Legacy Trustee Ltd, has signed a Memorandum of Understanding (“MoU”) with multiple well known financial institutions and organisations in Labuan International Business and Finance Centre (“Labuan IBFC”) on Wealth Management Portfolio.
The signing partners includes Alpine Advisory Sdn. Bhd, AMS Trust Company Limited, Estate Planning Practitioners (HK) Limited EPPL (HK), Fintech Bank Limited, GLP Consultancy Sdn Bhd (U Need Will), J.Rotbart & Co Gold Precious Metal, Pacific Invesco Capital Ltd, PFPFA Pte Ltd, UOB Kay Hian Wealth Advisors Sdn. Bhd. and VCI Global Limited.
Through these partnerships, the Company aims to provide clients with an integrated wealth preservation plan. This collaborative approach enhances convenience as well as safeguard the best interest for settlors and beneficiaries.
The wealth management involves some strategic management of financial assets, to achieve an individual and family financial goals. Spanning from retirement savings to asset protection for future generations.
Trusts play a pivotal role in realising a spectrum of wealth management objectives. Among key benefits of using a trust for wealth management is that it offers flexibility in financial planning for asset growth and preservation while segregating power over managing, owning, and benefiting from trust assets.
When assets are placed under a trust, they are no longer considered part of the grantor’s estate, which means that assets under trust are not subject to traditional estate distribution. This can be particularly important for high-net-worth individuals who may have complex succession planning needs for their immovable assets, movable assets, and business empires.
As Labuan IBFC is a leading international business and finance centre that offers a wide range of financial products and services, including the new in demand wealth management mechanism named Labuan Foundations.
Among key benefits of using a Labuan Foundation, is that it provides asset protection and confidentiality.
Assets held in a foundation are owned by the foundation itself, and not by the founder or beneficiaries. Additionally, the names of the founder and beneficiaries are not publicly disclosed, ensuring confidentiality. Labuan Foundations are also flexible and tax efficient.
Successfully, Legacy Trustee Ltd and Bank Islam Trust Company (Labuan) Ltd have declared their respective intentions for the purpose of achieving the principles of collaboration which are to offer an innovative and an attractive option of Labuan Foundations structure for high-net-worth individuals and families as part of their wealth management plan.
The Malaysian government, through Labuan Financial Services Authority (“Labuan FSA”), having a wide array of financial products and services, and skilled workforce, is committed to developing Labuan as a world-class sustainable financial centre.
This MoU is also witnessed by representatives of Labuan IBFC Incorporated Sdn Bhd (“Labuan IBFC Inc.”), representatives of Bank Islam Trust Company (Labuan) Ltd and the President of Malaysian Institute of Estate Planners (“MIEP”), Mr See Kok Loong, which will mark a significant step towards promoting the utilisation of trusts and foundations in wealth management, estate planning and importance of legacy academic in fostering among financial institutions within the Labuan International Business and Finance Centre.
This initiative is believed could attract new businesses and investment to Labuan, which would benefit the Malaysian economy.
About Legacy Trustee Ltd
Legacy Trustee Limited (“Legacy Trustee” or the “Company”) is a leading Asian private trustee, known for its innovative Digital Asset Infrastructure Platform and expertise in delivering international wealth management services through custom-made trust portfolio solutions.
With a strong commitment to promoting wealth management, estate planning, and collaboration among financial institutions, Legacy Trustee provides clients with world-class financial mechanisms via trusts.
For more information, please visit: https://legacytrusteeltd.com/