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Together with you (the Caregiver), we will go through a holistic needs assessment of your loved one (the Beneficiary) that is focused entirely on his/her well-being.
This will enable us to develop a Care Plan that is helpful to project the amount of trust funds you need to set aside to provide for your Beneficiary to receive similar daily care needs when you are no longer able or not around to look after him/her.
As the caregiver, you decide and set out your wishes in a Letter of Intent on how the funds are to be managed and disbursed to meet your Beneficiary’s daily living needs.
Upon your demise or incapacity, the Trust will be activated and SNTC will act according to your wishes in disbursing the funds and in the best interest of the Beneficiary.
You only require a minimum of $5,000 to set up the account and you can top-up the trust fund anytime. You can gift the proceeds from your property by will and nominate your insurance policy as well as CPF savings to the trust.
The Public Trustee holds and invests the Trust funds with principal guaranteed by the Government.