Private trust is a trust created for the benefit of individuals other than a public or charitable purpose. It is created for the financial benefit of one or more designated beneficiaries rather than for the public benefit. At Meristem Trustees, we aid Individuals manage their assets through:
- Wills Drafting / Executorship Services: Most people are concerned about what becomes of their loved ones and their estates after death. They are worried about family stress, misuse/abuse of inheritances, and warring family claims and thus appreciate an opportunity to appoint an independent and reputable corporate entity as their Trustee to take charge of their estate and administer it in line with the provisions of their Trust Deed. At Meristem, We ensure that the individual’s wishes and desires as reflected in a will are adequately protected and executed after his/her death.
- Procurement Of Letters Of Administration: When a person dies without leaving a Will, or where he made a Will which is invalid for non-compliance with the law, he is said to have died intestate and his real and personal estate vests in the government.
As a result, personal representatives of the deceased normally come forward to apply for letters of administration in order to have control over the estate.
At Meristem, we provide services that include procuring Letters of Administration on behalf of personal representatives as well as acting as Administrators for the estate of deceased clients who died intestate.
- Custodial Trusteeship: Meristem Trustees offers custodial services to both corporate and individual clients. We act as custodians of very important title documents, legal documents, share certificates, expensive jewelries and articles etc. We have state of the art security facilities required for keeping such documents. The benefits of this service include:
- Safe-keeping of your assets
- Strict adherence to your wishes as stated in the Custodial Agreement
- State of the art security facilities on -site and off -site
- Living Trusts: A Living Trust, which can either be revocable or irrevocable, is a Trust created during one’s lifetime and which is expected to take effect during that lifetime of the Settlor. Our Living Trust service ensures that assets of clients are transferred to their loved ones whilst they are still alive and that same is done without the delay and publicity associated with wills and probate. The advantages of the service include:
- Probate is avoided
- Confidentiality is preserved
- A living trust can’t be easily challenged unlike a Will
- Speedy transfer of assets to heirs
- Management of your assets while alive and upon demise
- Safeguarding of assets and record keeping
- Private Education Trust Are you thinking of how to secure the education of your children, grandchildren or for an individual? At Meristem, we provide private education trusts which ensure that you are able to secure the education of the named beneficiary. The Meristem Education Trust Fund allows you to set aside either a lump sum amount or periodic contributions over time to provide for the education of the named beneficiary. The standard, level of education are determined by you, subject to adequacy of funds in the Trust account. You are at liberty to make this Trust revocable or irrevocable. In other words, you may guarantee the education of the beneficiary by precluding yourself or any future guardian from terminating the Trust or withdrawing the funds.
- Meristem Diaspora Trust (MDT) is aimed at ensuring that the fear often faced by Nigerians in the Diaspora who want a reliable “Eye” in Nigeria over their investments or Home-coming plans are eliminated. It is a service/product designed such that those responsibilities are transferred to a trustee who represents and protect the interests of the owner with a view to ensuring that those objectives are achieved. The services provides the following advantages:
- It relieves the client of any stress and anxiety often experienced in undertaking investments whilst abroad.
- The investment will be managed by a team of experts, and is executed in line with your desires.
- Meristem Trustees will ensure adherence to the Trust Deed (This is a Legal Agreement, which will be executed between Meristem and the investor containing the terms of engagement).
- Philanthropy Service: We are surrounded daily by people in our immediate community who cannot afford the basic needs of health care and education. This product creates an avenue for you to “give back” to the community in which you live. The Meristem Philanthropy Trust allows you to actualize your philanthropic desires without getting involved in the day to day activities which may be required. The features of this product include:
- Periodic deposits (monthly, quarterly or yearly) to the Trust.
- Liquidation upon your instruction and with due notice as provided in the Trust Deed.