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    CVS 
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Trust and Fiduciary Services

Knowing your loved ones are properly cared for offers a sense of comfort. Now is the perfect time to start the conversation.

Our team of experts will help you with planning, protecting and preparing for the distribution of your assets in accordance with your intentions to your loved ones.

Our fiduciary services platform is provided by Leno Trust Ltd, a Bahamian company, licensed and regulated by the Central Bank of The Bahamas. Planning for the future can be simple.  Protecting your assets as you earn them can be achieved! Ensure that your intentions for distributing your assets to your loved ones is decided by you and not the courts with the comfort of knowing that your intentions are upheld.

Leno as a fiduciary service provider will meet with you in developing your trust deed, discussing and clearly understanding your intentions for the assets during your lifetime and for your loved ones thereafter.

There are various ways to structure your trusts including:

  • Discretionary Trust – A named discretionary class of Beneficiaries providing for Trustee discretion
  • Fixed Interest Trust – Defined interest for Beneficiaries entitlement to trust assets
  • Asset/Creditor Protection Trust – Defined period for protection from Creditors on transfer of assets to the trust
  • Settlor Directed Trust – Provide direction to Trustees over the assets in the trust. Remove the threat of a “sham” trust
  • Purpose Trust – Define specific purposes for the Trust and we will ensure objectives and goals are attained

Other Fiduciary Services

  • Custody Services – Leno will hold assets in its name on your behalf. Ensure collection of all income entitlement, exercise of any rights and options, redemption and reinvestment as provided for in any agreements with you.
  • Private Trust Company (PTC) – Establish a privately held trust company for trustee services to your family group of trusts. Become involved in the decision making and direction of investment and structuring of assets comprising your group of trusts. Hold shares of your operating companies, Fund shares, within your trusts, under the trusteeship of your PTC. Leno Trust will assist you in meeting all regulatory and compliance aspects for your PTC.
  • Foundations – Do you have philanthropic goals? Is there a particular funding objective you wish to achieve or a charitable goal you wish to support? Leno can assist you with the establishment of a Foundation. Let us work with you to achieve your goal or objective.
  • Nominee shareholder Services – We can hold shares in the name of our Nominee companies. This will allow us to meet and report on any regulatory matters of the company
  • Directorships Services – Let us act as Corporate Directors for your company. We can remove the personal exposure and provide the corporate governance necessary in the current regulatory environment.

 

Company Management – Leno can take on the responsibility of company management for you, allowing you to focus on growing your wealth.

 

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Frequently Asked Questions (FAQs)

A trust is a contractual agreement with three primary parties (1) Settlor (2) Trustee and (3) Beneficiaries. Each of these parties have powers, duties and rights pertaining to the assets settled in the trust.

A trust can be settled by a legal (incorporated entity) or a natural person or persons (individuals). Trusts can be settled with minimum $100 initial assets with additional assets being added on an ongoing basis.

Basically, anything can be held in a trust. (i)Financial Assets – Cash, securities, bonds, Shares of Funds, Rights, Options, (ii) Shares of private companies (iii)Real estate – (transfer would be subject to conveyancing and duty, exception being where trust has beneficiary restrictions) (iv)Jewelry, (v)Artwork (vi) Assets located within our outside The Bahamas etc.

Yes! Based on the terms of the deed a trust can be revoked or fully distributed. Normally a Settlor would retain the power to revoke the trust.

Any person (legal or natural) can be named as a Beneficiary to a trust. Normally family members and loved ones are named as Beneficiaries, however charities, foundations, churches or other organizations which the Settlor may wish to benefit from the assets settled in the trust can be also be named.

There are several differences between a trust and a will. Primarily a will is required to be probated subsequent to the Testator’s demise. A trust which is already established will continue functioning as it was prior to a Testator’s demise. Time period for the probate process may delay access to assets. The trust will continue to function without interference or delay and access to assets is immediate.

The Trustee receives at the time of establishing the discretionary trust a Letter of Wishes (LOW) from the Settlor. This letter provides the Trustee with guidance as to the actions the Settlor would take in administering and distributing the assets of the trust.

It is standard for the Settlor to be named as Beneficiary to the trust. This would allow him or her to receive distributions from the trust. Distributions can be requested by a Beneficiary from time to time as needed over the life of the trust.

There are varying types of trusts. The principle concept of the fiduciary relationship is the same, however the terms within each deed can differ, ie., a trust can be revocable or irrevocable, amendable or unamendable, have a specific period or purpose, have discretionary or fixed interest, and other variables.

Yes, Leno offers Private Trust Companies (PTC), Foundations, Purpose Trusts, Unit Trusts, all of which can be used along with corporate structures to meet wealth and succession planning needs

The cost of setup and administration for a trust depending on the complexity of the structure and time involved with the administration. Costs can be fixed or scalable based on the value of the assets under administration. Fees are discussed and agreed at the time of acceptance of the business.

Available Downloads

Trust Services Fact Sheet

Start The Conversation About Your Financial Future





    At Leno, we know that one size does not fit all. Our team of experts work to design the perfect plan for you. Let’s get you started on a future that you can be proud of.

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