Let’s begin to familiarize ourselves with the concept starting from the definition of Trust on the Treccani encyclopedia website:
“Legal institution born in England in the Middle Ages and then spread throughout the Anglo-Saxon world, according to which one or more assets are entrusted to a fiduciary subject (trustee) so that he manages them for a specific purpose or in favor of one or more beneficiaries”. 

A Trust is created when a subject – the settlor – transfers assets to another subject – the trustee – who must administer and manage them in favor of other subjects – the beneficiaries – to whom the trustee will have to transfer the assets after a given agreed period of time, or in relation to which they will produce a benefit for the achievement of a specific purpose. 

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Choosing between a trust company and a traditional bank depends on your specific financial needs and preferences. Trust companies and banks offer different services, and individuals may prefer one over the other based on various factors. 

Here are some reasons why someone might prefer our trust company over a bank:

Wealth Management Services: Trust companies often specialize in wealth management and estate planning services. If you have significant assets or complex financial arrangements, a trust company may offer more specialized expertise in managing and preserving wealth for future generations.

Fiduciary Services: Trust companies commonly act as fiduciaries, managing trusts, estates, and other financial arrangements on behalf of clients. They have a legal obligation to act in the best interests of their clients, which can be particularly important in estate planning and wealth management.

Personalized Service: Trust companies may provide more personalized and tailored services compared to large banks, especially for high-net-worth individuals. Clients may have direct access to dedicated trust officers who can offer individualized advice and support.

Long-Term Relationships: Trust companies may prioritize building long-term relationships with their clients. This focus on continuity can be beneficial for individuals and families seeking financial services over multiple generations.

Succession planning: One of the main goals of the trust companies is succession planning.
Working closely with clients, helps create well-structured succession plans that ensure efficient and consistent distribution of wealth to future generations. 

Regulatory Environment: Trust companies are subject to specific regulations and oversight related to fiduciary responsibilities. Some individuals may prefer the regulatory environment of trust companies, viewing it as providing an additional layer of protection for their assets.

Independence: Trust companies may operate independently of commercial banking activities, allowing them to focus solely on fiduciary services and wealth management. This independence can be appealing to clients seeking unbiased advice.

Placing your assets in a trust can potentially offer various tax advantages, depending on the type of trust, your jurisdiction, and your specific financial situation. 

If I have a fiduciary contract I am no longer the owner of the asset but become the settlor or beneficiary, so I become a person who has decentralised his assets. I have anonymised my assets, resulting in tax relief, especially in the case of managing the succession of assets.

The banking system is unlikely to collapse, but it will undergo increasing centralisation and agglomeration of banking structures. 

What an institution like a digital trust aims to achieve is the decentralisation of assets. It leads its customers to a new economy and a new management of their financial assets.

It’s important for individuals to be aware of the deposit insurance coverage in their respective countries and to spread their deposits across different institutions if necessary to stay within the insured limits. Additionally, staying informed about the financial health of the banks where you hold accounts is prudent.

While these measures aim to mitigate the impact of a banking system collapse, it’s crucial to recognize that no system is entirely risk-free. Economic conditions, regulatory frameworks, and government policies can all influence the effectiveness of these safeguards. Individuals should stay informed, diversify their financial holdings, and seek professional advice to navigate potential risks.

You can contact us by e-mail at: info@atlastrust.io, or write us using the contact form on the relative page “Contact”.

You will then be assigned a reference person who will follow you in your registration for our services. 

KYC stands for “Know Your Customer,” and it refers to the process that businesses and financial institutions use to verify the identity of their clients or customers. The primary goal of KYC is to prevent illegal activities such as fraud, money laundering, terrorist financing, and other financial crimes. By understanding the identity and risk profile of customers, institutions can assess the legitimacy of their transactions and comply with regulatory requirements.

Key components of KYC include:

Identity Verification: Collecting and verifying information about the customer’s identity. This may include documents such as government-issued IDs, passports, or driver’s licenses.

Address Verification: Confirming the customer’s residential or business address. This is often done through utility bills, bank statements, or other official documents.

Customer Due Diligence (CDD): Assessing the customer’s risk profile based on factors such as their business activities, transaction patterns, and location. High-risk customers, such as those involved in international transactions or certain industries, may undergo more extensive due diligence.

Monitoring Transactions: Regularly monitoring customer transactions for unusual or suspicious activity. This helps institutions identify and report potentially illicit transactions in accordance with anti-money laundering (AML) regulations.

Risk Assessment: Assigning a risk rating to customers based on various factors, including their industry, geographic location, and transaction history. Higher-risk customers may undergo more stringent KYC procedures.

KYC processes are a crucial part of regulatory compliance for our digital trust Atlas. These requirements are imposed by government authorities to combat financial crimes and ensure the integrity of the financial system. This procedure may take from 2 to 5 working days.

The documents required are similar to those that are normally requested, instead of the identity card you can present the certificate of incorporation of the “ente” institution, but proof of residence is still required.

The costs for maintaining and managing the Atlas Digital Trust account are the same as for private individuals. 

The transfer of assets held in a trust to heirs following the death of the settlor involves several steps and typically follows a well-defined legal and administrative process.
The specific procedures can vary based on the terms outlined in the deed of trust document.

Here is a general outline of the steps often involved:

Notification of Death: The first step is to notify relevant parties, including the trustee, beneficiaries, and any co-trustees, of the settlor’s death.

Review Deed of Trust Document: The trustee and beneficiaries should carefully review the trust document to understand the terms and conditions that govern the distribution of assets upon the settlor’s death. The trust document will outline how assets are to be distributed, the timing of distributions, and any specific conditions that must be met.

Probate Avoidance: One of the advantages of placing assets in a trust is often to avoid the probate process. Trust assets typically pass outside of probate, allowing for a more efficient transfer to beneficiaries. The trustee may need to provide proof of the settlor’s death and the existence of the trust to financial institutions and other relevant parties.

Distribution to Beneficiaries: The trustee can distribute the trust assets to the beneficiaries according to the terms of the deed of trust document.

Trust Termination: If the trust document specifies conditions under which the trust should terminate, the trustee will follow those instructions. Termination may occur after the distribution of assets to beneficiaries is complete.

For all disputes and interpretation of the Terms of Agreement, American law, District of Columbia shall apply. The American courts shall have non-exclusive jurisdiction over any dispute arising out of or relating to your use of the Atlas Custody Service, if the dispute is initiated by you. This is without prejudice to your rights under the laws of the country in which you are resident, including (where applicable) the right to submit a dispute relating to your use of the Atlas Custody Service to the courts of that country. In the event that Atlas Digital Trust needs to take legal action against you, we shall have the right to do so at our discretion in your country of residence, or country of nationality.