The custodial trust service provided by FGA can act as a firewall of property. According to Section 89 of Chapter 29 of the Trustee Ordinance, the trust assets are a separate fund that is not part of the Trust Company's property. Furthermore, the legal title of trust assets is the trustee, who is responsible for managing the trust assets in accordance with the terms and special duties imposed on him. If the purpose of the trust is not illegal and the trust period is more than 5 years, the chance of the trust assets being claimed is low.
Can creditors claim my assets in Trust?
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Written by FGA
Updated over 2 years ago