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Things You Need to Know About Trust Assets Administration and Management Services in Hong Kong
A professional trust management services provider in Hong Kong can ensure that the administration and management your trust assets are properly taken care of. Trusts can help to preserve and protect wealth and assets while smart investment strategies can also help retain and even increase the value of trust assets over a long period of time.
The Importance of Administration and Management of Trust Assets
A trust is made when a settlor (or trustor) transfers the property and/or another type of asset (typically monetary) to a trustee who manages it for the benefit of the beneficiary. Trustees can be in the form of trusted individuals or professional trust services provider such as 3E Accounting Hong Kong.
Establishing trust early on in life can help to ensure that a person’s wealth and assets are properly preserved and arrangements are made to pass it on to desired loved ones. Proper administration and management of trust assets can also help to reduce taxes while ensuring that assets are distributed according to your preferences instead of the court’s legal standards.
Choosing a Good Trust Management Service Provider
A trust management service provider that is appointed as a trustee has a special fiduciary responsibility and are expected to make important decisions in the beneficiary’s best interests. There should, therefore, be a strict criterion that applies to choose a trust management service provider due to the amount of control and responsibility they hold.
A good trust management service provider should be able to:
- Prove that they have the Trust or Company Service Provider Licence (TCSP) which legally qualifies them to be a trust management service provider in Hong Kong
- Interpret legal trust documents accurately and professionally in order to properly administer the distribution of any trust assets to the beneficiary (or beneficiaries)
- Skillfully manage the finances of accounts within a trust and prepare any and all records on behalf of the trust (including statements and tax returns)
- Regularly communicate with beneficiaries in a clear and professional manner in order to keep them informed on the associated accounts and taxes
Looking for Trust Assets Administration And Management Services in Hong Kong?
3E Accounting Hong Kong is a holder of the Trust or Company Service Provider Licence (TCSP) which is granted by the Hong Kong Companies Registry. Our team of dedicated experts are fit and proper to handle matters of trusts and can carry out trustee services that can be tailored to a client’s specific requests and circumstances.
We are leaders in cost-effective professional solutions with expertise in professional company incorporation, accounting, corporate administration, company secretarial functions, compliance services, and more. We care about delivering quality service and are certified in various qualifications with high global standards of training and development.
Let our team of dedicated experts give you the service you deserve today.