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Our Bureau

Will enable individuals or married couples to structure their wealth

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Mumbai Feb. 2 DSP Merrill Lynch Trust Services (DSPMLTS) will offer `Trust Services' for high net worth clients. A trust is an estate planning solution that allows individuals or married couples to structure their wealth for the benefit of the current and future generations, and is governed by a trust deed that sets out the terms agreed between the settler and the trustee.

"Estate planning and wealth preservation are part of the financial planning process, which enables a client to achieve his financial objectives during his life span and see that his family members are protected," said Mr Pradeep Dokania, Head-Global Private Group, DSP Merrill Lynch.

The trustee will be responsible for administering the settled wealth of clients, both during and after their lifetime and for overseeing the management of assets in accordance with the financial goals of the clients, or settlers.

Initially, trust services will be offered to resident Indians.

DSPMLTS will have access to the Merrill Lynch International Trust and Wealth Structuring, which has over 20 years of experience in offering trust services to a global clientele.

"There is a growing change in the mindset of people, resulting in a better understanding of the benefits of using trusts to structure wealth," said Mr Kevin Horrocks, Chief Trust Officer, International Trust and Wealth Structuring at Merrill Lynch.

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DSP Merrill Lynch launches `Trust Services'

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