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Private Wealth Services – CSLT

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Farooq

Private Wealth Services

A significant aspect of our services involves helping private individuals organise, grow and protect their assets efficiently by setting up shielded structures which minimise estate and asset transfer taxes.

In addition to drafting core Private Wealth documents such as Wills and Trusts, we can also implement sophisticated trust structures if necessary to meet a client’s Private Wealth protection goals.

Our Trust Advisors and Lawyers are experienced in the most effective and sophisticated Private Wealth techniques to ensure seamless wealth and asset transfer, wealth preservation, business succession and tax planning.

Wills and Probate Services

The death of a partner or spouse in Nigeria may lead to significant financial hardship and the people you may want to benefit from your property and affairs may not do so If a Will is not prepared.

More and more people are coming into the realisation that without a Will (Intestacy), they have no control over who will receive any property, money or other assets as Intestacy Laws stipulate how the estate will be distributed in that instance.

People who die without a Will are therefore leaving unnecessary work, complications and costs to their family and friends and often unintentionally gift assets to the Government.

Administration of Estate should not become a problem for bereaved families. There are many factors to be taken into consideration when writing a Will and it is important to take qualified advice at that stage otherwise families may become divided over the Estate, spending valuable time and money on court hearings.

Our specialist Estate Planning team at CSL Trustees have considerable experience in drawing up Wills, Administration of Estates and Estate Planning and will guide you through the process expertly.

At CSL Trustees, we also offer a professional, caring and sympathetic service to assist and guide bereaved families through the complicated legal process of Administration of Estates, including:

  • Intestacy (where the deceased leaves no Will).
  • Estate Administration (we can serve as Executors and Administrators).
  • Attachment of Additional Assets where some assets have been omitted.
  • Confirming the value of the assets and debts of the Estate.
  • Applying for the Grant of Probate.
  • Disposal of Assets.
  • Liaising with banks, pension fund administrators, insurance companies and other institutions
  • Paying debts, taxes and other liabilities.
  • Paying out the estate according to the Will or under the Intestacy rules.
  • Provide estate accounts and tax returns.

Many individuals choose to instruct us to carry out some or all of the administration process and ensure their responsibilities are fully complied with. Our personal service ensures that this process is handled professionally and efficiently, and at affordable costs.

Private Trusts

A Trust is simply a legal relationship created when one person is given the property to hold for the benefit of another.

A Trust is a great tool available for the use of smart (not necessarily wealthy) individuals who want to go beyond writing a Will to explore the option of protecting their assets in a way that could help avoid the pitfalls of inheritance tax and the rigors/inadequacies of the Probate process.

CSL Trustees offers a range of trusts for use, taking into account clients’ Estate Planning, Wealth Preservation, and Privacy needs.

Setting up Trusts require specific expertise, as well as a full understanding of clients’ goals and priorities. Our Trust Advisors will work with you to understand your needs and collaborate with other advisors to help you develop a strategic Trust plan.

Education Trust

An Education Trust Plan is a Savings Trust managed and administered by CSL Trustees for the benefit of a named beneficiary, for the purpose of enabling you to build up funds towards the financial security for the future education of your children/wards.

Whether you want to make a certain amount available each year to pay for your child’s education or you want to provide for your beneficiary in the event of your demise to ensure education is not disrupted, we will craft bespoke Trust plans for you.

CSL Trustees pays the school fees directly to the school so the burden is taken off you. The funds will also be invested and yield returns.

Reserve Trust

Reserve Trusts are also Savings Trusts for upwardly mobile people who want to set aside funds in a short-term Trust attached to a specific purpose or intended for specific beneficiaries. The minimum investment tenor is 6 months and it is interest-bearing.

Investment Management Trust

CSL Trustees can manage individual investment portfolio through a separately managed Trust structure. We listen to your needs, goals and aspirations for the short term and the long term. With a clear understanding of your priorities and objectives, we work with you to develop and administer a coordinated approach for managing your assets and executing your plans through a carefully crafted Trust structure.

Separately managed Trusts have several advantages:

⦁ They are tax efficient
⦁ They are tailored to your specific investment guidelines
⦁ They are flexible to respond to changes in investment objectives

Frequently Asked Questions

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