What assortment of Trusts
can one set up under the
CPF Trust Fund? Advanced Healthcare trust: that allows
decisions to be made on settlor’s behalf
with regard to healthcare and life support
decisions as per the settlor’s instructions.
CPF Imara offers a broad range of fiduciary
services including trust services for
individuals and institutional clients. Our
innovative solutions are tailored to suit the
unique needs of clients by providing the
following variety of trusts namely; Financial Durable Power of Attorney:
this grants authority to someone else to
manage the settlor’s financial affairs when
incapacitated.
The Special Needs Trust: that ensures
a lifetime provision for physically &
mentally challenged beneficiaries.
The Spousal Income trust: that allows
surviving spouse discretion to control and
name beneficiaries after settlor’s death.
The Asset Protection Trust: that
mitigates against divorce, litigation and
bankruptcy as the property ownership is
separated from the settlor/beneficiary in
the event they are sued.
Life Time Trust for Heirs: that protects
assets from others through marriage,
divorce, creditors, joint ownership,
bankruptcy or judgements which takes
effect upon death of the settlor.
Assignment of Personal Property:
Transfer of tangible and intangible
property which do not necessarily have
title documents but are of sentimental
value to the settlor.
Life Insurance: The Trust is named as the
beneficiary of the policy with instructions
on distribution to actual beneficiaries on
maturity of the policy.
Charitable Remainder: a charitable
trust where the settlor receives an annual
income from the trust and the remainder
of at least 10% of the original value must
be transferred to charity upon the settlor’s
demise.
Generation Skipping: this type of
trust preserves settlor’s assets for several
generations with the advantage of
appreciation of investment while saving
on taxes, protection from creditors.
Welfare/Benevolent
Funds:
this
particular trust administers funds on
behalf of collective groups with a common
agenda towards the members’ welfare and
support in alleviation of human suffering.
How can one get started?
Setting up a CPF Imara Trust is simple.
We normally employ two stages when it
comes to setting up a trust: Select the type
of arrangement/trust you need and give
instructions to create the trust; and Give
written instructions on how to deal with
funds/assets in the event of your untimely
demise (Grant Letter).
For feedback or any more discourse
on this piece please drop us a line at:
Info@marketingafrica.co.ke.