Yes, clients maintain some control over trust assets through the terms of the trust.

While the assets in a trust constitute a separate fund held by the trustee, according to the Recognition of Trusts Ordinance (Chapter 76), the client establishes the terms of the trust which dictate how the trustee manages, employs or disposes of those assets. This allows the client to maintain investment power and permit or restrict certain actions.

The trustee then has discretion over carrying out the client's instructions within their legal duties to the beneficiaries. For example, a client can provide the trustee with parameters for selling the trust assets, but the trustee maintains the flexibility to decide if a specific instruction is prudent and in the beneficiaries' best interests.

At UniTrust, our relationship managers foster strong ties with clients, ensuring their instructions are meticulously followed. Within the boundaries set by trust terms and laws, this relationship aims to strike a balance between the client's level of control and the trustee's obligations towards the beneficiaries.