The Blind Trust is established by obtaining the instructions from the client to form the Trust. The information required from the client is as follows:-
Details of the Assets
Valmet needs to know the type and scope of the assets to be held by the Blind Trust.
Name of the Blind Trust
The client should stipulate the name of the Blind Trust which may be anything and in any language. Generally, Blind Trusts to not bear names relating in any way to the Settlor.
Draft Letter of Wishes
The client should supply in their own words the way they would like their Letter of Wishes drafted. The information should include the order in which the beneficiaries are to benefit and in what manner incorporating such restrictions as access to capital and income which may depend upon age and other criteria. Valmet will redraft the Letter of Wishes into a clear legal statement for the Settlor's signature.
Choice of Investment Advisor
The Settlor should name the people to act as the Investment Advisor if one is to be included (the majority of trusts do not have Investment Advisors).
The Indenture
The Indenture will be prepared and executed by Valmet and given to the Settlor to sign in duplicate, one copy retained in a secure place by the Settlor and the other returned to Valmet. The Indenture deals with the Power to Appoint the Protector.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
