HSBC Bank Malta is the first bank in Malta to start offering estate planning services. The Bank will be giving guidance and support to clients who would like to create trusts, formulate wills, or invest in life assurance as a means of estate planning.

In the case of wills, HSBC’s role will be limited to referring customers to the notary of their choice to draw up their will.

The bank feels the need, and indeed duty, to continue raising customer awareness in this area and refer any interested customers to notaries.

Estate Planning is a process whereby wills, trusts and even life assurance are set up and managed. It is the process of accumulating and disposing of an estate and making sure its proceeds pass to the estate owner’s intended beneficiaries. This includes providing for, and designating, guardians for minors.

“It is still a common perception that if you die, everything you own will automatically be passed on to your spouse. This is not the case. If you die without having made a will, your estate will be distributed according to the law of intestacy.

HSBC’s Estate Planning services continue to enhance the Bank’s financial planning service,” said Richard Reid, Managing Director of HSBC Life Assurance Ltd.

HSBC is already heavily involved in the setting up of trusts. The bank is a licensed trustee and HSBC Trust Services are already actively assisting customers in the setting-up of trusts. With HSBC Bank as a Trustee, customers can be assured of administrative services, security, experience, expertise and confidentiality at all times.

In an effort to inform people, HSBC has published a brochure that provides general information to guide customers as to the different types of wills and the main considerations to take in planning their will, about the setting-up of Trusts, on the importance of life insurance and on inheritance tax. This brochure is available at all HSBC’s branches around Malta and Gozo.

For more information one can also contact customer service on 2380 2380 or visit HSBC’s website at www.hsbc.com.mt. Further guidance can be also obtained from the Financial Planning Officers at any HSBC branch.