How do I appoint Kensington Trust as my Trustee / substitute Trustee for Testamentary Trust?
Please note
- This article is ONLY APPLICABLE for drafting a Testamentary Trust through getArrange.com. If you would like to have instead an Active Trust, Standby Trust, or Insurance Trust, the trust deed will be drafted by Kensington.
- Kensington Trust will only act as an Executor only if they are also acting as the Trustee of your Testamentary Trust.
FEE
S$250 excluding GST (PayNow to Kensington Trust, UEN 201541575G)
There is also no “trust set up fee” as the Testamentary Trust documents are drafted through getArrange.com.
The S$250 upfront fee is ONLY for appointing Kensington Trust as the Trustee/Executor. It is non-refundable even if Kensington Trust (e.g. as a substitute) is not required to act eventually.
The professional fees and other charges for work done in connection with the proving of your Will, obtaining the grant of probate, the administration of your estate under your Will, and in administering any trusts arising or activated are payable upon your passing.
PROCEDURE
1
Follow the
REQUIREMENT below when generating your draft Will.
2
Send your generated Will to Kensington Trust for review:
(a) Go to our
Professional Services page to submit your request.
(b) Email your generated Will to
Linda.Wong@kensington-trust.com and
James.Bates@kensington-trust.com. You can do this by replying to the email cc-ed to you when you submitted a professional service request in step 2(a).
(c) Kensington Trust will review the Will before agreeing to be appointed.
3
Once Kensington Trust has agreed to be appointed, please complete ALL of the following:
(a) Print and sign the reviewed Will according to the signing instructions written in the Will at your convenience.
(b) Sign the
appointment letter - "Appointment of Kensington Trust as Executor and/or Trustee form".
(c) Email both the scanned soft copy of the
signed Will and the
appointment letter to
Linda.Wong@kensington-trust.com and
James.Bates@kensington-trust.com.
(d) Make a payment of S$250 via PayNow to UEN 201541575G.
REQUIREMENT
REQUIREMENT 1 - FILL IN KENSINGTON TRUST DETAILS
Fill in KENSINGTON TRUST details when appointing them as a Trustee or Executor:
REQUIREMENT 2 - GIVE FULL DISCRETION OVER THE TRUST
If you appoint KENSINGTON TRUST as the Trustee or substitute Trustee for your Testamentary Trust, ensure that you select “ Full discretion over the Trust” under Trustee Powers. DO NOT toggle off any power.
REQUIREMENT 3 - INSERT CHARGING CLAUSE
Go to the " Select Clauses" tab and scroll to “Other Instructions”. Copy and paste the following charging clause given by KENSINGTON TRUST:
Should KENSINGTON TRUST SINGAPORE LIMITED (Reg No. 201541575G) carry out the role as my executor and/or trustee, they shall be paid all professional fees and other charges for work done in connection with the proving of this Will, obtaining the grant of probate, the administration of my estate under this Will and in administering any trusts arising or activated.
