Our principal activity is to act as Trustee of private trusts and to administer the assets under trusteeship in accordance with the terms of the Trust and the law. We only provide Trustee services in Singapore.
All trust assets are registered in the name of the trustees. Quoted securities will normally be held by a broker or bank and Cash will be deposited with a bank of repute in interest bearing accounts. Examples of the duties of the trustees include but are not limited to maintenance of trustee minutes and accounting records, regular monitoring of trust assets, preparation of annual accounts, trust tax returns and Government submissions, provision of relevant information to Settlors, Beneficiaries or their advisers for taxation purposes and regular meetings with the Settlor or Principal Beneficiaries of the Trust.
Fees are agreed in advance in respect of the cost to draft the appropriate documentation, form the trust, deal with on boarding of client data of the Settlor and family and arrange the transfer of assets. Riverside charges an annual trustee fee each January agreed with the Settlor dependent upon the size, nature, activity, responsibility, risk and the time required to administer the Trust. Otherwise, fees are charged on a time cost basis or can be agreed as a percentage of the value of assets under trusteeship.