Overview
Declaration Trust is a flexible tool for financial provision. You may act as trustee while Rockwills Trustee is appointed as backup trustee when specified events occur.
What is Declaration Trust?
Declaration Trust is designed to provide for loved ones and secure their financial well-being. Assets need not be transferred immediately until selected events occur.
Triggering events may include death, total permanent disability, critical illness, mental disability, resignation as trustee, disappearance for an agreed period, or other specific events.
Benefits
- Speedy distribution to beneficiaries in their time of need
- Control while you act as trustee during your lifetime
- Flexibility to include yourself as a beneficiary
- Cost savings because transfer to Rockwills Trustee is deferred
- Continuity when Rockwills Trustee acts as backup trustee
- Impartiality and professional trustee experience
- Protector appointment to safeguard beneficiary interests
Next step
The right structure depends on family relationships, assets, liabilities, nominees, beneficiaries, and business interests. A consultation helps confirm which document or trust arrangement is suitable.