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HoverTrusts
Global Excellence in Digital Asset Management

All you need to know

Migle Virbalaite

Head of Trust Operations

Migle is a STEP qualified international finance professional with an LLM and over a decade of immersive experience in the trust industry. Accredited by ACAMS, she brings a wealth of knowledge to ensure financial excelence and compliance.

Frequently asked Questions

The most frequently asked questions about Trust.

What is a Trust? 

A trust is a legal arrangement where a person, known as a grantor or settlor, transfers assets to a qualified third party, who in turn holds and manages such assets on behalf of a beneficiary. The settlor and beneficiary may be the same person. HoverTrusts is a licensed Trust Company that specializes in the trading and holding of digital assets.

Why use a Trust?

Trusts, a longstanding tool for secure asset management, utilize licensed trustees to explore investment opportunities while safeguarding assets. Hover extends this concept to crypto, granting customers access to unavailable investments like cryptocurrencies, DeFi, NFTs, and exchanges in their region.

Who can use a Trust?

Accessible to everyone globally, trusts were historically expensive, mainly serving the wealthy. Hover changes this by enabling customers to establish and maintain affordable digital asset trusts. Compliant with international laws, HoverTrusts excludes individuals on watch lists or involved in criminal activity.

How much does it cost?

Hover’s trusts are operated in a similar manner to that of digital exchanges. People who are familiar with the fees of digital asset exchanges will see similar costs at Hover.

Can I deposit my digital assests in the Trust?

Yes, you can deposit any digital asset supported by the Hover Platform. We are always working to improve and expand the assets offered on the Hover Platform.

How are assets traded in the Trust?

You may request that the trust distribute some or all of the assets (including profits) of the trust to the beneficiary of the trust at any time. Often the trustee can fulfill this request immediately, but a delay of 1-2 business days may be required.

What is a Trustee?

A trustee is the qualified professional assigned to hold and manage of the assets held in trust. Hover Trust Company (Anguilla) SEZC Ltd. is a licensed General Trust Company in Anguilla, British West Indies.

How are assets removed from the Trust?

You may request that the trust distribute some or all of the assets (including profits) of the trust to the beneficiary of the trust at any time. Often the trustee can fulfill this request immediately, but a delay of 1-2 business days may be required.

How are assets traded in the Trust?

You may request that the trust distribute some or all of the assets (including profits) of the trust to the beneficiary of the trust at any time. Often the trustee can fulfill this request immediately, but a delay of 1-2 business days may be required.

What is the difference between a settlor and a beneficiary?

A settlor is the person who opens a trust. A beneficiary is the person entitled to receive the benefits of the assets held in trust. The settlor and beneficiary can be the same person, provided that an additional beneficiary is also included in the trust. All HoverTrusts pre-include a charitable beneficiary entitled to less than 0.01% of the trust assets in order to comply with trust law.

Does a Trust reduce my tax liability?

Financial transactions in a trust have the same tax liability as for the settlor and/or beneficiary of the trust. All such persons should contact their local tax advisor on such issues.

Questions or queries

Contact us

support@hovertrusts.com 

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