WELCOME TO INTERNATIONAL TOP WILL TRUSTEE BODY
Protecting Your Wealth For Everlasting Inheritance
Overview
International Top Will Trustee Body (ITWTB) is a private trustee association that allows and assists its Members on how to manage and provide a thorough, comprehensive, and holistic approach in Estate Planning.
We are a group of professionals encompassed of experienced lawyers and estate planners gathering together to share insides, knowledge, and experience into matters regards to Estate Administration, Functional Wills and being able to help our Members to oversee the Members’ appointed Executor carry out the execution of our Members’ estate hand in hand with their family members after the Members’ demise.
Our role is to act as protector ensuring members’ intention on how to distribute their wealth to their intended beneficiaries could be carried out amicably and for generations to come.
Our Objectives
01
Upgrade the social and economics of all members through a single platform and business development management network that connects local members with members around the world.
02
Plays the role of the business development management advisory body in developing and enhancing accountability and transparency in the management System including to administer all members wealth and succession plan for both Movable and Immovable Assets.
03
Prepare and strengthen comprehensive business development to enhance accountability to all sectors especially on execution of Wills, Assets, Probate and Estate Administration and insurance.
04
Organized various business development seminars among the community on the latest management succession plan covering Wills, Estate Administration, Assets Accumulation and financing advises.
05
Creating and providing opportunities and enacting members to venture into business development internationally focusing on Assets Accumulation and Succession Plan for their business and beneficiaries.
06
Foster closer relationships of friendship and goodwill among members and the general welfare of members. Publish quality Movable and Immovables Assets brochures, magazines and books, particularly in the field of Wills, Trust, Succession and business development in various languages.
What is A Private Trust?
A proper financial planning consists of 3 pillars, which are wealth accumulation, protection and distribution.
It can be defined as the process flow where you start to accumulate your wealth through savings & investments, then protect your wealth against unexpected events with insurance, and it ends with how your assets will be distributed during the time of your demise.
In Malaysia, the components of wealth accumulation & protection are well thought out, however, most of us struggle when it comes to the final piece of the financial pyramid, which is wealth distribution.
According to reports, RM70 billion unclaimed assets are frozen in legal procedure in Malaysia.
The frozen assets include unclaimed money, EPF monies, life insurance money and land & properties without any proper nomination from the deceased.
Unexpected events do occur unlikely. This is why proper estate planning is crucial in preventing any unwanted occurrences.
Wealth distribution can be done by writing a will, however, if you want to retain control of your wealth even after planning to distribute it away or seek for a more customized approach towards your estate planning, a Private Trust is more of what you are looking for.
A Trust is a legal instrument which is written on a Trust Deed for the Settlor (the person who creates the Trust) to provide instructions to the Trustee or Trust Administrator for them to hold, manage and distribute the assets to their intended beneficiaries.
ITWTB is a private trustee association formed in conjunction to support the increasing demand of wealth distribution. Members associated with our association are entitled to plan their asset distribution ahead with total security and privacy.
Private trust vs Public Trust
Private trusts are mainly for wealth protection & distribution purposes, while public trusts are mainly for charitable purposes. Public trust can also be used for wealth protection & distribution, but it has many limitations. For ITWTB, although we are a private trust, we also contribute greatly to charity.
Private trusts benefit a narrow & specific group, ex. the employees of a company, family members or specific individuals. Public trusts are meant to serve a large or substantial body of public, ex. for charitable purposes like education, poverty eradication, promotion of sports, medical welfare or for religious or scientific purposes.
Private trusts are managed by your appointed trustee with more privacy, whereas public trusts are managed by a board of trustees; you can’t appoint your own trustee & you have lesser privacy.
Lesser hidden cost are associated when private trusts are placed for management. But for public trusts, they are more expensive to manage with hidden cost often associated.
Benefits Of Managing Your Assets With ITWTB
How ITWTB Benefits Your Business?
- Provide asset protection and limit liability in relation to your business.
- Separate the control of an asset from the owner of the asset and so may be useful for protecting the income or assets of a young person or a family unit.
- Maximize asset growth through investments in the stock market, unit trust & property market, managed by our team of professional financial advisors.
- Ease the procedure of asset transactions and reduce the hidden costs associated.
- Reduce hidden costs associated with the sales of assets such as property & stocks.
- Stable income reimbursement based on the return of managed investments.
How ITWTB Benefits Your Family?
- Create a customized framework for efficient and easy management of assets through our private trust route to meet the different requirements of your family members.
- Consolidation of assets through ITWTB for ease of estate administration.
- Ensure transfer of assets to your family members to be completed in the most efficient and a phased manner.
- Achieve a practical balance between control and ownership of family business.
- Protect your family members from liabilities which arise from unfortunate events.
- Minimize the possibility of any family disputes, or conflicts within the family. ITWTB can help you structure your asset arrangements & settlements through family trust and avoid disputes among the future generations of your family members.
- Protection from marital disputes.
- Protection from possible legal disputes and claims over assets through your Will.
- Protect the interest of special children and transfer of assets to 3rd or subsequent generations over a period of their maturity.
- Family members of ITWTB who do not wish to continue the Family Business may continue to enjoy the proceeds of the Family Business without the hassle of managing it
