Who can I assign to be the beneficiary(ies) of my Trust?
As a settlor of the trust, you can also be the beneficiary of your trust. According to Section 2(c) Recognition of Trusts Ordinance (Cap. 76), if you have not decided who will be the beneficiary/beneficiaries of your trust, you can always assign a class of persons as your beneficiaries. For instance, your children or grandchildren.
How to add beneficiary(ies) to my trust?
You can assign, manage, and allocate beneficiary(ies) and their corresponding asset distribution via FGA portal:
1. Navigate to 'My Profile' under 'Account'.
2. Click on 'Change Beneficiaries' in the upper right corner.
3. Then, click 'Add Beneficiary'.
4. On the subsequent page, fill in the beneficiaries' information and their corresponding asset percentage distribution. Check the box below and click 'Submit'.
*Note: After placing the instruction, you need to sign the “Change of Beneficiaries” and “Deed of Variation” documents and send them back to us for the changes to take effect. Please get in touch with your relationship manager or customer service to obtain the forms.
Can I assign my unborn child as the beneficiary of my Trust?
Yes. You can assign a class of persons as your beneficiaries, for instance, your children or grandchildren.