Glossary on Singapore Probate, Resealing, Estates, Wills

Declaration of trust

A document in which a person declares that he holds (or two or more persons declare that they hold) assets on trust for the benefit of one or more beneficiaries. A declaration of trust may create a new trust or may confirm the terms of an existing trust. A settlor may create a trust using [...]

By |2016-11-01T01:14:20+08:00March 19th, 2016|Glossary Probate and Wills|0 Comments

Trust document

A legal document (which may be a deed or other instrument) that creates a trust. The trust document appoints the trustees and states the terms of the trust, including who the beneficiaries are and the trust property that will be subject to the trust. In Singapore, the trust document usually takes the form of a [...]

By |2016-03-19T13:29:59+08:00March 19th, 2016|Glossary Probate and Wills|0 Comments

Vested Interest

 A beneficiary of a trust has a vested interest if he does not have to meet any conditions for his interest to take effect. The interest may be: Vested in possession, if it is a "present right to present enjoyment", such as an immediate right to income. Vested in interest, if it is a "present [...]

By |2016-03-19T13:28:31+08:00March 19th, 2016|Glossary Probate and Wills|0 Comments

Letter of wishes

A letter (also called a memorandum of wishes) written by the settlor of a trust to the trustees, to guide them as to how the settlor would like the trust to be administered. A letter of wishes is not binding on the trustees and often accompanies a discretionary trust, where the trustees may be in [...]

By |2016-03-19T13:22:54+08:00March 19th, 2016|Glossary Probate and Wills|0 Comments
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