TRUST MANAGEMENT & ESTATE / SUCCESSION PLANNING SERVICES

NOV

18

Amicorp Trustees (India) Pvt. Ltd.

Amicorp Trustees (India) Pvt. Ltd.

www.amicorp.com

Amicorp
o o o o o o Founded in 1992 Currently 40 offices, in 27 countries Over 650+ employees worldwide Amicorp Group A.G. is a Swiss company Started India operations in 2007 In 2012 Amicorp established its Estate & Succession Planning company Amicorp Trustees (India) Pvt. Ltd.

Amicorp Trustees (India) Pvt. Ltd.

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 Estate & Succession Planning

Amicorp Trustees (India) Pvt. Ltd.

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What is Succession Planning?

Succession planning - is the process of anticipating and arranging for the disposal of estate during and after your life time An succession plan includes: o Estate management o Estate preservation and o Estate legacy

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Who needs Succession Planning?

o o o o o o o o o o o Business Houses, Entrepreneurs & Professionals Nuclear family or Joint family Family with no legal heir or with special child Family with beneficiaries across globe with different residential status NRI family with assets in India Family looking at generation skipping Multiple marriages Inheritance tax planning Muslim Families Person looking to protect his / her assets against unforeseen events Person who would like to distribute his assets as per his or her wish and not as per the governed law

Amicorp Trustees (India) Pvt. Ltd.

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Advantages of Succession Planning

o o o o o o o o o o o o o o o Asset protection from litigation Avoid claims, fights and litigation from within or outside the family Seamless & smooth asset distribution Safeguard interests of the dependents Efficient and uninterrupted management Asset protection during divorce & separation Medical emergencies Old age Care of special child Wealth preservation Demarcation of personal & business income Appointing a guardian for a minor Consolidation of assets Tax planning Philanthropic aspirations

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Consequences of not having a Succession plan

If one dies intestate, his wealth gets distributed among his natural legal heirs as per personal succession laws o It can be a lengthy process with undesired results leading to family disputes o Legal heirs may have to go through long drawn out legal battles to claim their rights o Business built over generations may split o Business may pass over to person who does not have the right skills to manage

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Succession Planning in India can be established in two ways:

Will
or

Trust
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WILL
o Will is a Legal document that comes in play on the demise of the testator o It carries the wishes of an individual regarding his / her estate / assets, i.e. Distribution of assets, Guardian for the children, etc.

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Who can write a Will?

o o o o Eligibility: Should be a major Indian National/ NRI/ PIO/ OCI Should be of sound mind Should not otherwise be debarred from making a Will

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Will Versus Nomination

Often there is confusion between a Will and a nomination. A nomination is not a Will. The nominee merely acts as the Trustee or Guardian for that asset A Will supersedes all Nominations

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 Trust

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Private & Public Trust

PRIVATE TRUST

PUBLIC TRUST

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What is a Trust?
Private Trust: o A Trust is a relationship whereby property (real or personal, tangible or intangible) o Is transferred by one party (Settlor) o To be held by another party (Trustee) o For the benefit of a third party (Beneficiaries) o Governed by the Indian Trust Act, 1882 Public Trust: o When a trust is formed for the benefit of the public or any section of the public, religious or charitable purpose includes a temple, any other religious or charitable endowment

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Parties to a Trust
Settlor :
(One who transfers the assets in the Trust, either direct or through the letter of Wishes)

Trust Assets
Investment Portfolio Real Estate, Bank Acc, Art, Etc Business , Inherited Assets

Trustees : One who holds the Trust property in the Trust for the benefit of others

Administrator / Managing Trustee :

(One who actually does the trust Job in terms of Filing Returns or Investment for the Trust)

Protector : (Protects the interest of the

Beneficiaries. Keeps a check on the Trustees)

Wife

Children

Parents

Charity

Settlor

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Assets that a Trust can hold

Business/Inherited Assets
Art & Jewelry Bank Accounts

Investments Portfolio

Family Trust

Real Estate

Beneficiaries

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 Different Trust Structures

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Trust for Investments

Trust Objective: o Investments
Settlor

Customer

Investment Advisory Board

Investment Trust

o o o

Trustees: Amicorp / Customer Managing Trustees: Amicorp / Customer Investment Advisory board.

Mutual Funds ART / FD / Bank Acc Others

Equity

Administrator: Amicorp or Customer

Customer / Family Members

o Beneficiary: Settlor or family members

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Trust Through a Will

Investment Portfolio Business Inherited Assets

Settlor

Assets

Bank Acc, Art, Etc

Registered Will

Family Trust

Trustees Amicorp and/or Family members?

Wife
Administrator: Amicorp or Customer

Primary Beneficiary

Children
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Secondary Beneficiary

Independent Trust for ABC Family

Investment Portfolio

Business , Inherited Assets

o o o

Trustees: Amicorp Managing Trustees: Amicorp An Advisory board would be set up for ABC Family Trust.

Real Estate, Bank Acc, Art, Etc

ABC Family Trust

Trust 2 for Daughter (Minor)

Trust 1 for Son (Minor)

Trust 3 for Wife

o o o o

Beneficiaries: Trust 1 Son (Minor) Beneficiaries: Trust 2 Daughter (Minor) Beneficiaries: Trust 3 Wife On the demise of the Wife, Trust 3 would be dissolved and the assets would be distributed to Trust 1 and Trust 2 in equal proportion

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Direct Trust for XYZ Family

Mr. XYZ seeks options for the protection of his family and himself against any unforeseen event.
Investment Portfolio Business, Inherited Assets

o o o o

Trustees: Amicorp Managing Trustees: Amicorp An Advisory Board was set up for XYZ Family Trust *Mr. XYZ will be the beneficiary to the Trust only in special cases i.e. when hospitalized

Real Estate, Bank Acc, Art, Etc

XYZ Family Trust

Wife

Child 1

Child 2

Parents

Mr. XYZ*

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 Our Expertise

Amicorp Trustees (India) Pvt. Ltd.

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Estate / Succession Planning Services

o o o o o o Will Drafting of Will Registration of Will Safe custody of Will Trusts Formation Drafting of Trust Deed Registration of Trust Management of Trust as Trustee / Managing Trustee Executorship Services o Identifying assets of the Testator o Obtaining letter of administration / probate from the court o Recovering dues o Paying debt, duties and expenses o Distributing the assets to the beneficiaries o Co-ordinating the preparation of tax returns o Filing final statement with the court

Document Preservation / Custodial Services o Safe custody of Will / Trust Deed o Safe custody of property documents mentioned in a Will or held under a Trust
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Amicorp as Trustees or Managing Trustees

As Trustees or Managing Trustees Amicorp will strictly abide and follow instructions defined in the Trust deed Scope of work: o Property management o Transferring movable (i.e. shares) and immovable assets (i.e. real estate) to the Trust o Pay rent or collect rent on behalf of the Trust o Payment of tax return and audit for the Trust o Conducting board/shareholders meetings where the Trust holds shares in a company o Family welfare and maintenance in reference to medical or any other requirements
Amicorp Trustees (India) Pvt. Ltd.
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Amicorp India Team

o Trust Specialists: 12 members o In-house Legal Team: 17 members o Back-office Operations: 60 members

Amicorp Trustees (India) Pvt. Ltd.

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THANK YOU
Amicorp Trustees (India) Pvt. Ltd.
# 63, Maker Chambers VI 6th Floor, Nariman Point Mumbai 400 021 Mob: +91 9870500786 Tel.: +91 22 2204 9894 / 95 Fax.: +91 22 2204 9893 Email.: estateplanningindia@amicorp.com
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