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    The family wealth trust with a threshold of 1 million yuan is available.

    2019-04-15 07:42:30

    Financial Times

    recently,China Merchants BankAnnounced the launch of the Family Wealth Inheritance Service, the Sunflower Fortune Trust, to address the heritage of the middle class family.

    The above information was disclosed by China Merchants Bank at the “Meihua and Peony Family Wealth Forum Inaugural Meeting and Family Trust Seminar”. Liu Jianjun, deputy governor of China Merchants Bank, said that as a national joint-stock commercial bank with 17 years of wealth management experience, serving 125 million retail customers and managing retail customers with total assets of 6.8 trillion yuan, China Merchants Bank hopes to continuously improve its products and Service system, deepen the application of financial technology and enhance the customer experience.

    Family trust development space is broad

    In Liu Jianjun's view, the domestic family trust business is still in the early stage of development, and it is difficult to meet the needs of a large middle-class family. China Merchants Bank combines its years of service experience and professional accumulation in the field of wealth management to innovate and launch a family wealth inheritance service - Sunflower Wealth Trust, escorting the wealth of the middle class family.

    It is understood that the current concept of trust inheritance in developed countries and regions such as Europe and the United States is deeply rooted in people's hearts, and the family trust business is booming. The development of the trustee for the middle class, such as civil trusts, estate trusts, and other functions such as financial management and intergenerational inheritance distribution, is very mature and the threshold is also very mature. Relatively low, generally between 1 million and 2 million yuan, very suitable for the middle class's financial resources and needs.

    The industry believes that although the current family trust has the function of inheritance and isolation, but the threshold is too high, generally more than 10 million yuan, suitable for the middle class, family trust with intergenerational inheritance distribution function is still in its infancy, the market is very broad.

    How does the middle class protect family wealth?

    According to the results of the survey on the theme of “wealth inheritance” published by Nielsen in the middle class wealth report, nearly 60% of the respondents did not realize that they have the need to inherit wealth; 63% of the respondents did not consider using trust planning, etc. Means to achieve wealth transfer needs.

    Many middle-class customers believe that their current career is smooth, their families are happy, and they are in their prime, prematurely arranging “unlucky”, there is no need to consider the inheritance and distribution of wealth; and customers believe that wealth inheritance is a billionaire. Considering things, you can realize the inheritance of wealth even if you give cash and real estate directly to your children. However, in daily life, the risks caused by business operations, debt disputes, marital accidents, etc. are everywhere. Although the middle class has assets of only one million yuan, if it is only through gift or inheritance, it will easily lead to debt recovery and family disputes. The consequences of the division and loss of production and divorce property.

    Experts suggest that from the perspective of risk prevention, in the management of wealth, in addition to paying attention to the preservation and appreciation of assets, we must also consider the potential risks that may occur, and respond and arrange in advance so that we can “create wealth” for the family. It is better to give the family a "passion" and continue the happy and beautiful life. The trust is essentially a special property management system and legal behavior. The essence of its concept is “beginning with trust and finally entrusted”. Among them, Tianyi Trust has the unique characteristics of “isolation + designated distribution”, which can be based on customer wishes. Designing the legal framework to manage, apply and dispose of the interests of designated beneficiaries is the best means of inheriting family wealth.

    Set up a starting point of 1 million yuan

    The “Full Rich” service of the family of the China Merchants Bank directly refers to the demand for the inheritance and distribution of the wealth of the middle class families. According to reports, with the support of China Resources Trust, well-known law firms and consulting companies, it has been nearly two years to repeatedly demonstrate product structure and optimize service models. The threshold for setting up is set at 1 million yuan after in-depth investigation and evaluation, which expands the scope of group services for family trusts.

    It is understood that the Golden Sunflower Wealth Trust has five characteristics: “establishing low thresholds”, “service standardization”, “beneficial wide”, “flexible distribution” and “good isolation effect”. In the establishment, the sunflower wealth trust is simple and convenient to set up, and the procedures are relatively standardized. Can provide customers with a unified professional asset management services.

    In the beneficiary's choice, the client can assign the trust property to the family member who wishes to take care according to his or her own wishes. The scope includes: spouse, children, (spouse) parents and (outside) grandchildren, etc. Inheritance, and can achieve intergenerational care, but also flexible distribution. The Sunflower Fortune Trust can be distributed at a fixed time, and can be distributed when certain conditions such as progression, marriage and childbirth are triggered. It can continue to take care of the family and prevent squandering.

    In terms of risk isolation, the isolation function of the Sunflower Fortune Trust is mainly reflected in the difference between “the legal assets of the establishment of the Sunflower Fortune Trust” and the “other assets of the customer”. When a debt dispute, marriage is changed, and the estate is divided, this part of the assets is independent. Other assets owned by the customer.

    Hot searchIntergenerational inheritance Heyi Trust Risk isolation

    Editor in charge: Lu Shan RF10057

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