Trust News

PreceptGroup International sees six-fold increase in people setting up trusts since 2008

PreceptsGroup International has seen a significant increase in people interested in setting up trusts over the years. From around 20 trusts set up annually in 2008, about 120 to 140 trusts are established annually now, a six-fold increase.

Responding to a Straits Times article dated 28 October 2022 and titled “More parents interested in setting up trusts for their children”, PreceptsGroup International chief executive officer, Mr Lee Chiwi, affirmed the growth in the establishment of trusts in Singapore and a broadening awareness of their value to safeguard assets. “Quick wealth in the hands of the beneficiary could dissipate in a short while,” said Mr Lee.

Trusts help to distribute wealth more systematically and efficiently, for the long term.  A trust is a legal arrangement that allows an individual to place his assets such that an appointed trustee can managed them on behalf of the beneficiaries. Trusts allow wealth to be distributed to beneficiaries over a longer period of time as opposed to handing over assets outright soon after the death of the individual who set up the trust.  

Meanwhile, in the wake of the Covid-19 pandemic, Mr Lee added that PreceptGroup is also sensing that, with the rising cost of living as well as the negative experiences of the Covid-19 pandemic, people are more conscious of vulnerable times ahead for their families. “They want to provide for them and make sure there are funds for that rainy day,” he added.

Trust News

PreceptsGroup International’s Lee Chiwi shares tips on trusts on Straits Times podcast

Chief executive officer of PreceptsGroup International, Mr Lee Chiwi, was invited to speak on Invest Talk, a podcast by The Straits Times that is held every first and third Monday of the month. The podcast took place on 19 December 2022.

In the 14-minute podcast, Mr Lee shared tips on:

  • What’s important as you start on estate planning
  • Why and how a trust can come in useful for young beneficiaries
  • Why it makes sense to do a nomination of CPF funds into a simple trust to avoid issues
  • How taxes may be an issue when it comes to estate planning
  • Trusts for special needs individuals

You can listen to Mr Lee’s expert views on “Invest Talk Podcast: Tips on Legacy Planning and Setting up Trusts” at:


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