A trust can be settled by a legal (incorporated entity) or a natural person or persons (individuals). Trusts can be settled with minimum $100 initial assets with additional assets being added on an ongoing basis.

Basically, anything can be held in a trust. (i)Financial Assets – Cash, securities, bonds, Shares of Funds, Rights, Options, (ii) Shares of private companies (iii)Real estate – (transfer would be subject to conveyancing and duty, exception being where trust has beneficiary restrictions) (iv)Jewelry, (v)Artwork (vi) Assets located within our outside The Bahamas etc.

Yes! Based on the terms of the deed a trust can be revoked or fully distributed. Normally a Settlor would retain the power to revoke the trust.

Any person (legal or natural) can be named as a Beneficiary to a trust. Normally family members and loved ones are named as Beneficiaries, however charities, foundations, churches or other organizations which the Settlor may wish to benefit from the assets settled in the trust can be also be named.

There are several differences between a trust and a will. Primarily a will is required to be probated subsequent to the Testator’s demise. A trust which is already established will continue functioning as it was prior to a Testator’s demise. Time period for the probate process may delay access to assets. The trust will continue to function without interference or delay and access to assets is immediate.

The Trustee receives at the time of establishing the discretionary trust a Letter of Wishes (LOW) from the Settlor. This letter provides the Trustee with guidance as to the actions the Settlor would take in administering and distributing the assets of the trust.

It is standard for the Settlor to be named as Beneficiary to the trust. This would allow him or her to receive distributions from the trust. Distributions can be requested by a Beneficiary from time to time as needed over the life of the trust.

There are varying types of trusts. The principle concept of the fiduciary relationship is the same, however the terms within each deed can differ, ie., a trust can be revocable or irrevocable, amendable or unamendable, have a specific period or purpose, have discretionary or fixed interest, and other variables.

Yes, Leno offers Private Trust Companies (PTC), Foundations, Purpose Trusts, Unit Trusts, all of which can be used along with corporate structures to meet wealth and succession planning needs

The cost of setup and administration for a trust depending on the complexity of the structure and time involved with the administration. Costs can be fixed or scalable based on the value of the assets under administration. Fees are discussed and agreed at the time of acceptance of the business.