A Trust is an irrevocable agreement through which a person (Grantor) transfers ownership of certain goods to another (trustee) so that he/she may manage and safeguard them, according to the Grantor’s instructions, for his/her own benefit or the benefit of others (beneficiaries).
What goods or assets can be transferred to a Trust?
Any type of goods, including cash or investments accounts, insurance policies and/or real estate.
What are some of the Personal Trusts that Popular offer?
Asset Protection Trusts
Educational Trusts
Special Needs Trusts
Irrevocable Life Insurance Trusts
Testamentary Trusts
Real Estate Trusts
Self Insurance Trusts
When do Trusts become effective?
As soon as the designated Trustee accepts the terms and conditions included in the Deed of Trust (Trust Agreement).
What factors should be considered when choosing a Trustee?
The selection of a Trustee is the most significant part of any Trust Agreement. Several factors should be considered, among others, sufficient knowledge and expertise in trust asset management, enough resources to comply and execute the necessary payments to the beneficiaries and enough objectivity and independence of judgment when having to interpret and comply fully with the terms and conditions included in the Agreement by the Grantor.
Why should you choose Popular as Trustee?
Over 55 years of experience in Trust asset management and administration.
Experienced personnel in different areas such as legal, tax, investment, insurance and financial planning.
Financial strength from the largest commercial bank in Puerto Rico.
1The content of this material is for informational purposes only and is not intended as legal advice. Banco Popular de Puerto Rico, its subsidiaries or affiliates are not engaged in rendering legal, accounting or tax advice. If legal, accounting, or tax assistance is required, the service of a competent professional should be sought. Insurance and investment products are not insured by FDIC, are not deposits, obligations, nor are guaranteed by Banco Popular de Puerto Rico and may lose value.
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Banco Popular de Puerto RicoPO Box 71589San Juan PR 00936
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