What is a Trust?
A Trust is a legal arrangement whereby the owner (the Settlor) entrusts another party (the Trustee) to take care of his asset/s for the benefit of the beneficiaries he has chosen under instructions in the form of a trust deed.

​The Trust can be one of the effective legal tools to help you manage, protect, preserve and distribute your wealth or your financial plan. It can also be used to maintain yourself in the event some critical illness struck. It requires the Settlor to give away his assets such as shares, money and property to a trustee such as UBB AMANAH to hold on trust for the benefit and enjoyment of the beneficiary(ies). The Settlor may impose conditions for the Trustee to follow, such as releasing monies only for a certain purpose or in a staggered manner.

​Why do I need a Trust?
Trust is an excellent solution for many different kinds of problems regarding wealth accumulation, wealth protection, wealth preservation and wealth distribution. Having a will written is important, however unlike a Will, a Trust can serve many purposes to complete estate planning. For example, a Trust allows wealth protection and preservation which a Will cannot do.

Can I name anyone as my beneficiaries?
Yes, anyone can be the beneficiary(ies) including the Settlor, who creates the Trust.

Can I revoke/amend the Trust?
Yes, as the Settlor, you can revoke/amend it as long as it is a Revocable Trust.

​Does a Trust apply to Muslim and non-Muslim? 
Yes.

​What will happen to the Trust if I declare bankruptcy?
Your trust will not be frozen in the event of bankruptcy and you can always access your money.

What is the effect of a Trustee’s Bankruptcy?Whatever interest or whatever property a Trustee holds on trust does not belong to him but for the benefit of the Beneficiaries because the assets/property are held under trust accounts that are separate from the assets of the Trust Company. Therefore, in the event of a Trustee’s bankruptcy, the Trust property will not be vested in the Director General of Insolvency but instead a new successor Trustee would be appointed as Trustee to continue with the Trust.

What is “UBB CASH TRUST”?
UBB CASH TRUST is a trust established by you where in you place a sum of cash in a trust that can be made available to your named beneficiaries in the event of an emergency.

Why Should I establish a UBB CASH TRUST today?
It provides swift cash for expenses during emergencies and to tide your family over until the insurance payout and access to your money in your bank accounts or will. This cash can also be used to pay legal fees to access any inheritances and bereavement-related expenses.

Can I name anyone as my beneficiaries?
Yes. You can name several beneficiaries of your choice.

Will my UBB CASH TRUST be frozen like my bank accounts in the event of death?
No. Your UBB CASH TRUST cannot and will not be frozen in the event of death. This is the unique feature of the UBB CASH TRUST. It is a sum of cash placed “outside of the system”.

When will one need a Grant of Probate?
When a person dies and has a Will in place.

When will you need Letters of Administration?
When a person dies and does not have a Will and also to unfreeze a bank account and distribution of his estate.

If I am made bankrupt, will my UBB CASH TRUST be frozen?
No. Your UBB CASH TRUST cannot and will not be frozen in the event of bankruptcy. It is bankruptcy & creditor-proof. You or your family can access your money.

Can I access the cash in my UBB CASH TRUST?
Yes you can, subject to terms and conditions to be fulfilled.

This is the best thing I have come across! Is it a complicated process to apply?
No. To establish the unique UBB CASH TRUST is simple and quick. You will only need to fill out one application form and our capable staff will do the rest.

Why do I need a Will?
Well, you can leave the distribution of your assets to the law but you may not like the way the Distribution Act 1958 determines how your assets are distributed and the lengthy and arduous process.

Without a Will, your family will require an application for the Letter of Administration which takes over six months to arrive due to the additional legal requirements to be complied with.

With a Will, the time to complete distribution is considerably shortened as your family won’t have to search for guarantors or ra reliable administrator. You can also ensure that the welfare of your children are taken care of by appointing a guardian while you still retain control over your assets even after writing your Will.

What if I have no beneficiary to leave my assets to?
Even if you do not have any surviving family members that you would like to give to, you can always consider charitable contribution to organisations for the needy. 

​Why should I go to UBB Amanah?
There are many freelance will writers and will-writing companies who can do the job for you. However not everyone is reputable and can be relied on for top-notch professionalism and integrity. 

When it comes to comprehensive estate planning and business succession planning, it is important to have your will written with the necessary experience, expertise and support which does not just cover the legal aspects.