Fiduciary advising | QORE MANAGEMENT CONSULTING

Fiduciary setup

Defining the purpose of trust
Selecting the jurisdiction and trust formation
Drafting the Trust Deed
Appointment of Trustees and Protectors (the person appointed to oversee the actions of the Trustee)

Formulating the trust’s objectives, such as asset protection, wealth saving, or inheritance planning

Analyzing and choosing the jurisdiction with the most favorable legal, tax, and regulatory environment

Preparing a legally binding document that outlines the trust’s purpose, beneficiaries, and operational framework

Selecting reliable individuals or institutions to manage the trust and oversee its proper functioning, with clearly defined roles and responsibilities

Underlying asset structuring

TReview and transfer of assets
Tax and regulatory assessment
Asset management framework

Conducting a comprehensive review of the assets intended for the trust, including their value, type, and legal ownership. Facilitating the legal transfer of selected assets, such as real estate, shares, or intellectual property into the trust

Reviewing the tax implications and compliance requirements involved in transferring assets to the trust

Creating strategies for managing and growing the trust’s assets, including investment planning or overseeing business operations if the trust holds operating entities

Letter of wishes

Drafting the letter of wishes
Development of specific scenarios
Periodic review and updates

Assisting the settlor in creating of Letter of Wishes (document in which the settlor of the trust expresses their wishes to the trustee regarding the management of assets and the distribution of income among the beneficiaries) that outlines personal preferences regarding the management and distribution of trust assets

Addressing various possible situations, such as the beneficiaries’ needs, family emergencies, or changing financial conditions

Setting a schedule for regularly reviewing and updating the letter of wishes to account for changes in circumstances dynamics

Succession planning

Distribution planning
Inheritance tax strategy
Contingency provisions

Creating a detailed plan for asset distribution to beneficiaries, including timelines and conditions (e.g., age or milestones)

Assessing and implementing strategies to minimize inheritance taxes and other liabilities that could affect beneficiaries

Including backup plans for unforeseen events, such as the incapacity or death of a beneficiary, ensuring the trust’s goals are still met

Family office advisory

Establishing the Family Office
Creating the governance framework, defining the roles and services
Ongoing advisory and support

Assisting in setting up a family office to manage the financial, legal, and administrative needs of the ownership structure. This helps to centralize the wealth management and simplifies decision-making

Developing a governance structure that ensures transparent and efficient decision-making within the family office, with policies for conflict resolution and reporting. Identifying the services the family office will oversee, such as investment and asset management, tax planning and reposting.

Continuous support and advisory services to adapt the family office’s operations to evolving family and beneficiaries needs, ensuring long-term effectiveness