Whom can I assign to be the beneficiary(ies) of my Trust?

Anyone. as a settlor of the trust, you can also be one of the beneficiaries of your trust. According to Section 2(c) Recognition of Trusts Ordinance (Cap. 76), if you have not decided who will be the beneficiary/beneficiaries of your trust, you can always assign a class of persons as your beneficiaries. For instance, your children or grandchildren. The name of the beneficiaries can be changed anytime.
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How to add beneficiary(ies) to my trust?

You can assign, manage, and allocate beneficiary(ies) and their corresponding asset distribution via UTGL portal:

1. Navigate to 'My Profile' under the 'Account Center'.

2. Click on 'Change Beneficiaries' in the upper right corner.

3. Then, click 'Add Beneficiary'.

4. On the subsequent page, fill in the beneficiaries' information and their corresponding percentage of asset distribution. Check the box below and click 'Submit'.

*Note: After placing the instruction, you need to sign the “Change of Beneficiaries” and “Deed of Variation” documents and send them back to us to activate the changes. To obtain the forms, please get in touch with your relationship manager or customer service.

Can I assign my unborn child as the beneficiary of my Trust?

Yes. You can assign a class of persons as your beneficiaries, for instance, your children or grandchildren.