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The last few decades have seen a substantial increase in the creation of wealth by entrepreneurs and businessmen. Over time, some of these entrepreneurs and businessmen start accumulating serious wealth for themselves and their family, with investable wealth ranging from SGD 1 million to over SGD 50 million. From this point on, these wealthy individuals would typically need help in wealth management which broadly covers matters about protection, growth and provision of stewardship over their personal wealth into future generations of their families. Each wealthy individual is naturally different and has specific requirements. As such, various strategies and vehicles are often used by such individuals to effectively preserve and/ or enhance their wealth.

One vehicle that is commonly used by such individuals for wealth management purposes is a trust. Transferring/placing assets into a trust can bring forth a plethora of benefits. For example, it could:

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   •ÌýÌýÌýÌý enable a high net worth individual to carve a portion of his wealth for the family or philanthropic purposes while he is alive

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   •ÌýÌýÌýÌý enable family members to enjoy