Milele Trust Funds
I want
Ensure that my children’s education, upkeep and Medicare will be taken care of while I am still alive and / or in the unfortunate event of my demise until they attain the stipulated age.
You can create a trust for the purpose of your children’s current or future education The fund you build for this purpose will cater for your children’s education while you are still alive or in the unfortunate event of your demise. The structure of the trust will enable you to fund the children’s education kitty either via regular deposits or by a transfer in of lump sum amounts, e.g. from your life insurance maturity / sum assured, sale of an asset, among other sources.
The funds you place under the Trust are invested to ensure they grow over the lifetime of the Trust, while facilitating your children’s education financing.
As a parent you will have full control over the utilization of the assets under the Trust. In the unfortunate event of your demise, the trust will continue to meet your children education financing to the highest level possible as per your wishes.
Upon completion of their education or attainment of specified age, say 25yrs, the control of the trust may be given to the beneficiaries, including a lumpsum playout of the balance of the trust account.
I want
"Ensure proper administration of employee benefits (Pension, Group Life, Personal Accident, e.t.c) payable to minor beneficiaries."
Setting up a Trust Fund allows the most effective management of employee benefits for the good of bereaved minors by providing financing for their education, upkeep and medical expenses. A Trust helps to avoid possible mismanagement of such payable benefits by guardians thus helping such minors to enjoy the quality of education and care that would have otherwise been provided by the deceased.
I want
"Ensure that I and my loved ones upkeep and medical expenses will always be taken care of especially in the event of my incapacitation or untimely demise "
You can form a trust with the main purpose of providing upkeep and facilitating medical financing for yourself and your loved ones, this is especially useful in the event of your incapacitation or the unfortunate event of your demise. In most cases this is better combined with an education Trust.
In addition, well-wishers, may fundraise money to support the family of the deceased. Our Milele Trust fund provides a secure way of managing and administering such funds for the benefit of the minor beneficiaries. This ensures longevity and accountability of the usage of such funds.
This is especially helpful where you need to protect interest of beneficiaries with special needs. Building up a fund can remove the financial strain experienced as a result of medical and critical care for such groups. You can set up a Trust Fund for beneficiaries with special needs to assist them financially throughout the existence of the trust. You can also set up a trust to take care of your parents in their old age, to ensure that all expenses related to their well-being are taken care of.
I want
"Have a structured way to support and ensure continuity to my charitable interests "
You can set up a Charitable Trust for various initiatives such as supporting the community development projects, for educational sponsorships, supporting children’s homes among others. Periodic statements will be provided to you as the founder to track growth of the funds and progress of such projects.
I want
"Have a secure and accountable avenue of channelling my financial support from the Diaspora to my family back home"
Through establishing a trust, you can channel funds for investment and enable a co-ordinated disbursement approach to beneficiaries either for education, medical care, upkeep or projects. You as the founder (settlor) retains control over assets protected within the trust.
