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Trust administration
Day-to-day running of a trust: records, distributions, reporting and reviews, with us as holder of record.
Open Trust administrationSuccession
Cross-border estate planning with a trust
For a family with heirs and assets in several countries, cross-border estate planning with a trust sets out now who can benefit, when and on what terms. Your lawyers draft the deed and a letter of wishes. We act as trustee, hold the assets and carry out the terms.
Who it is for
Families who plan for heirs in more than one country
- Parents and grandparents who want to provide for children in stages or with conditions
- Families with members in several countries and assets under several legal systems
- Business owners planning who takes over the shares and how
- Executors and advisers settling an estate whose will sets up a trust
| Role | What it does |
|---|---|
| Settlor | Sets up the structure and transfers assets into it |
| Trustee | Holds the assets and manages them under the trust deed |
| Adviser | Gives investment directions that the trustee follows |
| Bank | Holds the account and acts on the trustee's instructions |
How it works
How a trust carries out succession, step by step
Set out your wishes
Who should benefit, in what shares, at what ages or events. Your lawyer turns this into a deed and a letter of wishes.
Name the roles
Beneficiaries, a protector if you want one, and anyone who keeps reserved powers. We explain what each role can do.
Fund the trust
Assets, or the holding company that owns them, move to the trust in the way the deed allows.
Administer during your lifetime
We hold the assets, keep the record and act on instructions within the deed.
Carry out the succession
When the deed says so, we distribute to the beneficiaries on its terms, with the protector's consent where the deed requires it.
In detail
Letter of wishes and protector: two ways to guide the trustee
A letter of wishes is a private note from the settlor explaining how the trustee should use its discretion. It guides the trustee; it does not bind it. The deed does.
A protector is a person or company the deed names to consent to, or veto, defined trustee decisions, such as adding a beneficiary or changing the governing law. A family can name a protector so that someone they trust has a say while the trustee keeps the legal duty.
In detail
Working with your lawyers and tax advisers in each country
Succession planning across borders meets forced heirship rules, succession law and inheritance tax, which differ from country to country.
Your lawyers in each country advise on them and draft the deed; your tax advisers handle the reporting.
We read the deed from the trustee side, tell you what we can and cannot administer, and keep the record that your advisers rely on.
Our role
What we do, and what we do not do
Your own advisers advise; we administer the trust.
What we do
- Act as trustee of family trusts and of a will trust, a trust created by a will
- Keep the letter of wishes on file and consider it when the deed gives us discretion
- Verify beneficiaries and pay distributions as the deed provides
- Keep the record of every decision, consent and payment
- Work with executors, lawyers and accountants in each country involved
- Review the deed with the family when circumstances change
What we do not do
- Draft wills or give legal advice on succession law or forced heirship. Your lawyers do that.
- Give tax advice or promise an inheritance tax outcome in any country.
- Manage investments or advise on them. Investment powers follow the deed.
- Change the beneficiaries or the terms. Only the deed and the law decide what can change and who can change it.
Documents and timeline
Documents and timeline
- Trust deed, letter of wishes and, where relevant, the will
- Identity and proof of address for each settlor, beneficiary with a vested interest, protector and controlling person
- Source of wealth and source of funds for the assets going into the trust
- Tax residence self-certification for each account holder and controlling person
- Family tree with the details of each beneficiary
- Title documents for property and shareholdings going into the trust
A trust can be in place once the deed is signed and the first assets are settled.
Distributions follow the events the deed names. Verification of a new beneficiary happens before the first payment.
FAQ
Questions families ask about trusts and inheritance
Does a trust avoid probate?
Assets the trustee validly holds are usually outside the settlor’s estate, so they do not pass through probate. The position depends on the governing law and on how the assets were settled, which your lawyers confirm. A trust is not a way around claims that the law of a country gives to family members.
How does a letter of wishes work with the deed?
The deed gives the trustee its discretion; the letter shows how the settlor hopes it will be used, for example for education or a first home. When we decide, we read the letter and record why we followed it or departed from it. The settlor can update the letter as the family changes, and we keep every version on file.
Can beneficiaries live in different countries?
Yes. A beneficiary abroad may be paid in another currency or to a foreign bank account, which we check against the deed before each payment. Where a beneficiary lives can affect how a distribution is taxed or reported, so the family’s advisers should look at it early.
How does the trust carry on after the settlor dies?
The trust carries on under the deed. The settlor gives no new instructions; the letter of wishes, and any protector the deed names, guide the trustee from then on. Powers the settlor reserved end or pass to someone else as the deed says. The trust does not wait for an estate to be settled, but the deed and the law decide the details.
Is a will still needed?
Usually, yes. A will covers assets that are not in the trust and can name guardians or direct assets into the trust. Your lawyers align the will and the trust deed so that they work together. We do not draft wills, but we can work with the executors the will names.
Where we work
Related jurisdictions
Singapore
Asia Pacific. We work alongside a local partner who takes a defined role in the trust.
See SingaporeNew Zealand
Asia Pacific. We work alongside a local partner who takes a defined role in the trust.
See New ZealandPlan the next generation with a trustee
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