Personal Management Trust

A type of arrangement that is ideal for those who wish to preserve or earn from their assets to answer for the current needs or for the future use of the trustor or his beneficiaries.

In a PMT, a trust agreement between LANDBANK Trust Banking Group and the trustor is established during the lifetime of the trustor, with the purpose of providing for the financial needs of the trustor and/or his/her designated beneficiaries.

 

 

The PMT may either be revocable or irrevocable. Being a living trust, PMT becomes operational during the lifetime of the trustor as soon as the agreement is accomplished. In a PMT arrangement, the Trustor may or may not nominate third-party beneficiary/ies. In case of death, distribution to nominated third-party beneficiaries may be released on staggered or lumpsum basis according to Trustor’s wishes. The agreement shall clearly state the specific purpose(s) for which the account was established which shall be consistent with the general objectives of the PMT which is the preservation of the assets or property for the future use of the beneficiaries and/or answer for their current needs.