Family Investments In Singapore: Child Trust Fund
You can financially support your children, family members, or charities by building trust. When it comes to keeping a family investment, a child trust fund is one of the most structured ways to give large sums of money to your children.
Trust arises when you want to give money to a beneficiary but don't want them to have complete control over the money. The trustee is appointed as the person who has limited control over the property or funds left behind. The trustee is responsible for managing the money for the beneficiaries. You can take help from UBS Global Family Office for family investment.
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The time that the liquidator will have control of the trust fund is pre-agreed. After this time, the money will be transferred to a specific person. The person is not necessarily the beneficiary, it can be anyone.
Suppose you want to send your nephew to business school and are happy to pay tuition fees. You can set up a trust fund to pay your tuition bills until you finish school. After receiving a diploma, trust fund money can be allocated to be distributed among your children.
The trust agreement determines the use of the funds. If you want to set up a trust fund for someone who is not financially responsible, create a trust fund. The Waste Trust was formed to pay for the living expenses of someone who would otherwise smoke money for other things.