MILELE TRUST FUND. Protect your family assets

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1 MILELE TRUST FUND Protect your family assets

2 UNDERSTANDING TRUST A Trust can be compared to a safe deposit box that holds valuable items, for the benefit of loved ones or courses. It is a legal arrangement whereby a person or an entity (known as a trustee) holds property as its legal owner, not for their own benefit, but for the benefit of one or more beneficiaries. It is essential that the transfer is gratuitous, otherwise the transaction takes on the characteristics of some other legal entity. WHAT CAN MILELE TRUST FUND DO FOR YOU? Milele Trust Fund will provide a measure of comfort knowing that you have a plan in place to help provide for the safe and accountable management of family assets and to direct their use in accordance with your wishes, goals and objectives. Milele Trust Fund is used to help ensure the proper management of your assets throughout the different stages of your life: During your active lifetime, placing assets in Milele Trust Fund allows you freedom to continue managing your assets or to devote time to other priorities. In the event you are incapacitated, Milele Trust will help ensure that your needs are met and that your finances are kept in good order for your benefit. Upon your death, your trust becomes irrevocable, and your assets are managed and distributed by ITSL Trust Company Limited (Trustees), in accordance with your instructions throughout the rest of the trust s existence. Have you ever thought about what may happen to your savings and your retirement and insurance benefits if anything tragic should happen to you? Who will take care of your loved ones, especially children, and ensure their education, medical care and general well-being is taken care of? ITSL Trust Company limited (ITSL) can offer you a solution so that you can rest easy in the knowledge that all of these matters will be handled by a team of professionals.

3 WHY MILELE TRUST FUND? It is easy to set up as the settlor need only sign a Grant Letter to adhere to the Trust Deed and Rules (TDR) of the Milele Trust Fund. It will assure that funding is available for specific needs, such as education, health care or charitable interests, as specified in the Trust Deed and Rules (TDR). It provides a framework in which money is managed in a predictable fashion, by people you choose, according to standards you set. It creates guidelines for current and future distributions that reflect your wishes. It also has substantial tax benefits and provide an expedient method to transfer assets. Unbiased loyalty and independence to carry out your wishes. Knowledgeable management, protection and defense of trust assets. Funds are invested with a Registered Fund Manager ensuring long term returns. Cost effective. To state the facts frankly is not to despair the future nor indict the past. The prudent heir takes careful inventory of his legacies and gives a faithful accounting to those whom he owes an obligation of trust. John F. Kennedy The 35th president of the United States of America. Milele Trust Fund will: Provide an orderly means of administering your personal and financial affairs should you become incapacitated, or upon death. Ensure that your assets are managed for the benefit of your heirs, according to your wishes. Manage your estate tax exposure and avoid probate costs. Protect assets from a creditor s claims. Assemble a tax-advantaged charitable gift. How do I get started: Give us instructions to create the trust. Give written instructions on how to deal with funds / assets in the event of your untimely demise (grant letters). Assets that can be held in a Trust Term deposits and bank accounts. Stocks and shares. Insurance policies. Property. Mutual funds or unit trust investments. Private company shares. Retirement benefits. Documents needed to set up the Trust: Signed Grant Letter. Assets to be held in the Trust Fund. Resolution by the settlor to transfer the funds to the Milele Trust Fund. Evidence of Source of Funds/assets. Copy of Identification card / passport.

4 WITHDRAWAL PROCEDURE The authorized signatory draws a letter to the trustee (ITSL Trust Company Limited), attaching the documents evidencing the payment requested by the authorized signatory. Once the payment has been effected, the trustee calls the guardian to collect the cheque or EFT confirmation of transfer of funds. OUR EXPERTISE Our private client services are built around a team of experienced and qualified staff dealing exclusively with the needs of our private clients. OUR INDEPENDENCE Our independence status ensures institutions providing banking, investment, and other professional services to Milele Trust Fund and our clients are selected with complete impartiality and solely on the basis of their ability to meet individual clients needs. We are experts in administrating structures established to facilitate the effective management of family trusts. The fees charged by the Trustee shall be 1% per annum, charged quarterly in arrears and calculated on the value of the funds held in the Trust on the date of calculation. This fee will be subject to a VAT charge. The Trustee will debit the fees and VAT to the Trust.

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