Trust services in Asia

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Asset protection? Tax mitigation? When it comes to setting up a trust, there's a lot to consider.

There are many reasons why people need to establish a trust – asset protection, family protection/accession, and tax mitigation, to name just a few.

Infinity works with many of the world’s leading trust companies and tax advisers who are well-versed in tax laws to provide a holistic service covering all aspects of trust planning, tax planning, and implementation.

The benefit of establishing a trust will depend on factors such as your country of residence and country of domicile, location and extent of assets, potential risk of litigation, and family structure. Wealth management must also take into account tax laws from tax authorities.

At Infinity, our trust advisers take a ‘big picture view of clients’ circumstances to build a trust that’s exactly right for their objectives.

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What is a trust?

Trusts are a popular way to secure financial protection for a third party. This is a legal arrangement in which assets such as property, cash, or other kinds of investments are given to another person; a good example is leaving savings for children. Tax education is critical when one considers creating a trust.

Taxes and Trusts

Private trusts

While trusts are often considered a means of tax avoidance, the right financial advisor can help provide protection to your assets while keeping clients in line with tax laws. The concept of tax avoidance comes from the fact that tax laws tend to have loopholes that allow many to avoid the need to pay income tax. For many, the key takeaways are therefore negative; however, the process that goes into taxes and trusts is far more intentional and logical. Indeed, the issue of tax avoidance only arises when a taxpayer seeks to lower tax liability by structuring their transaction such that steps with non-commercial rationale are put in place.

Tax Benefit

Trusts nonetheless offer income tax-related benefits, where it is possible to minimise tax liability within the limits of tax law through the beneficiary’s marginal rate. According to tax authorities, personal finance, expenses, and transactions made to the beneficiary pass along ordinary income. Therefore, the distribution of the income from the trust to beneficiaries who pay tax at a lower rate means that the overall tax deduction from the trust will be less. Thus, this wealth management technique works as a significant tax benefit to a trust.

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