Trust Accounts
Many Individuals or groups consider the formation of Trust Structures in support of strategic wealth management initiatives
For this purpose, such entities would be directed to open and maintain accounts with custodian operations such as Brokerage Firms or Banks.
Trust
Definition
A legal arrangement in which an individual (the trustor or grantor) gives fiduciary control of property to a person or institution (the trustee) for the benefit of beneficiaries.
Trustor
Definition
Individual who sets up a trust. also called grantor.
Fiduciary
Definition
An individual, corporation or association holding assets for another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party.
Trustee
Definition
An individual or organization which holds or manages and invests assets for the benefit of another. The trustee is legally obliged to make all trust-related decisions with the trustee's interests in mind, and may be liable for damages in the event of not doing so. Trustees may be entitled to a payment for their services, if specified in the trust deed.
Beneficiary
Definition
An individual, institution, trustee, or estate which receives, or may become eligible to receive, benefits under a will, insurance policy, retirement plan, annuity, trust, or other contract.
Please Note:
Tillerman Securities is of the opinion that services associated with strategic account opening structures, for Asset Protection or otherwise, (E.g. Corporations, Trusts etc.) are best provided by operations that are wholly independent of Custodial Operations (Banks, Brokers etc.). For this reason, we do not offer these services.
However, given that many clients opt to establish relationships via strategic structures, it is important that custodians (Banks, Brokers etc.) have a good understanding of these entities.
Further, in-order to deliver a hassle free experience to clients who may wish to operate accounts via a particular structure, Tillerman maintains a list of qualified & reputable service providers that offer advice & structuring services internationally.
We are happy to assist with initial introductions, and other support activity aimed at simplifying the process of opening an account in this fashion.
We maintain however that we do not give advice on strategic account opening structures, and therefore any related references should be considered as being for general information purposes only.
