The custodial trust service provided by UTGL can act as a firewall of property. According to S.89 of the Trustee Ordinance (Cap. 29), trust assets are separate fund that is not part of the Trust Company's property. Furthermore, the legal title of trust assets is the trustee, the chance of the trust assets being claimed is low if the purpose of the trust is not illegal (e.g., the trust is not intending to defraud creditors), the settlor does not reserve extensive powers and control over the trust assets and the trust period is more than 5 years
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Written by Support
Updated over a week ago