Introduction to Trust Services
Entrust with confidence, wealth with wisdom.
Let us take on the heavy responsibilities!
Together, we open the door to trusts and safeguard your future.
Achieve Your Goals Early
Family Succession
Plan your family wealth distribution in advance to avoid lengthy inheritance procedures and reduce the risk of disputes.
Business Succession
Maintain stable equity structures to help preserve control over the business.
Tax Protection
Effectively isolate risks from uncertain future assets, including claims from wills, descendants’ marital property, and creditors.
Estate Planning
Customize wealth management plans according to specific circumstances for rational planning and asset integration.
Privacy and Confidentiality
Under legal and regulatory compliance, the identities and interests of trust-related parties are kept confidential.
The Role of Family Trusts
Settlor
Transfer ownership of assets under one’s name to the trustee,
so that the trustee holds those assets for the benefit of the beneficiaries.
Trustee (OceanTech)
Holding the legal ownership of the trust property, managing the trust assets according to the trust deed, and distributing the trust property or income to the beneficiaries.
Beneficiary
The beneficiaries enjoy the beneficial ownership of the trust assets, usually entitled to the benefits of the trust assets, as designated by the settlor.
Protector
Usually holds supervisory authority over the trustee
(for example: the power to remove the trustee, or requiring the protector to be notified before the trustee exercises certain powers).
Typical Family Trust Structure
🧱 What is a Traditional Trust Structure?
A trust is a legal arrangement where the settlor transfers assets to the trustee for management, serving the interests of the beneficiaries.
It can be designed according to the settlor’s wishes with a protector mechanism, varying by jurisdiction, revocable structures, asset distribution methods, and timing.
✨ Features of Traditional Trusts
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Irrevocable Trust: Once established, it cannot be changed, and the assets are completely removed from the settlor’s name.
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Revocable Living Trust: The settlor can modify or revoke it at any time, often serving as the trustee themselves.
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Discretionary Trust: The trustee has the authority to decide how and when the assets are distributed.
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Non-discretionary Trust: Asset distribution is executed according to fixed terms.
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Living Trust: Established and effective during the settlor’s lifetime.
However, with the evolution of times and environments, a simple traditional typical trust structure may no longer be sufficient to meet sound family planning and personal wishes.
New Trust Structures and Adjustment Factors
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Special Needs Trust: Protects the welfare of individuals with disabilities without affecting their benefits.
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Qualified Personal Residence Trust (QPRT): Transfers a residence out of the estate, suitable for high-value properties.
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Charitable Remainder/Lead Trust: Combines philanthropy with tax benefits.
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Generation-Skipping Trust: Enables wealth transfer across generations, reducing multi-generation estate taxes.
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Life Insurance Trust: Includes life insurance proceeds in the trust to avoid estate taxes.
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Qualified Terminal Interest Property (QTIP) Trust: Protects the spouse’s interests while controlling the final distribution of assets.
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Grantor Retained Annuity Trust (GRAT): A tax strategy tailored for high-net-worth individuals.
"The gold standard for asset protection and tax efficiency, combined with modern innovation to achieve dynamic wealth transfer."
Future Development Focus
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Blockchain Trusts (automatic execution through smart contracts)
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Environmental, Social, and Governance (ESG) Trusts (incorporating sustainability clauses)
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Cross-border Multi-jurisdictional Trust Structures
Establishing a trust with OceanTech through a clear and straightforward process
Initial Phase
| Week 1 |
Confirm the trust structure
Confirm the purpose and function of establishing the trust
OceanTech acts as trustee, consulting lawyers and tax advisors regarding trust establishment issues
Finalize trust structure and service scope
Sign the service agreement with OceanTech
Mid-Phase
| Week 2-3 |
Conduct KYC review and prepare trust documents
Perform due diligence and collect KYC information
Concurrently communicate drafts of the trust deed and letter of wishes
Upon trust compliance approval and receipt of trust fees, OceanTech drafts and provides the trust deed and letter of wishes for client review and confirmation
Sign the trust deed
Sign the letter of wishes
Final Phase
| Week 4-6 |
Client approval and structure setup (excluding the time required for opening bank accounts)
Assist with company incorporation
Assist with opening securities accounts
Assist with opening/updating bank accounts (if needed)
Client transfers personally held assets to the trust (subject to the specific asset situation, including shareholding details; transfer processes and required time will be analyzed accordingly)
Trust structure officially completed