Shinhan Investment Corp. Launches Customized Trust Services for Persons with Disabilities and Single-Person Households

Shinhan Premier Independence Trust for Persons with Disabilities and Single Household Trust

Expansion of the "Happiness Connection Trust" lineup, a brand specializing in inheritance and gifting

On September 29, Shinhan Investment Corp. announced the launch of the "Shinhan Premier Independence Trust for Persons with Disabilities" and the "Shinhan Premier Single Household Trust," designed to support comprehensive asset management and wealth succession for customers with disabilities and single-person households throughout their lives.

These new products are based on the "Shinhan Premier Happiness Connection Trust," a specialized trust brand for inheritance and gifting. Their key feature is the design, which goes beyond simple asset storage or succession processes, allowing for the payment of living expenses, asset management, appointment of related parties, and the transfer of assets after death—all in accordance with the wishes of the customer, covering both their lifetime and posthumous plans.

To begin with, the "Shinhan Premier Independence Trust for Persons with Disabilities" allows individuals with disabilities to entrust cash, securities, real estate, and other assets they receive as gifts, and have them managed over an extended period. The trust agreement can be structured to provide regular payments for living expenses, medical bills, or educational costs. For real estate, the service can also be utilized to ensure a stable living environment. Furthermore, it is possible to use dividends or distributions generated from securities such as stocks or Exchange Traded Funds (ETFs) as living funds by outlining such arrangements in advance.

Depending on individual customer situations, family members, relatives, legal guardians, or institutions can be designated as trust-related parties. The appointed parties will provide support for necessary procedures, such as claims for living expense payments, within the scope of their approved authority. If the relevant requirements under tax law are met, up to 500 million won (up to 1 billion won from 2027 onwards) of assets gifted to persons with disabilities are excluded from the calculation of gift tax. However, to qualify for this exclusion, all applicable legal conditions must be met and reports must be filed within statutory deadlines.

The "Shinhan Premier Single Household Trust," launched together, is a trust service designed to address asset management gaps that may arise if a customer suffers from diminished decision-making capacity due to dementia, illness, an accident, or after their death. The service allows customers to predefine conditions for living and medical expense payments, designate a death notifier, and name successor beneficiaries, so their intentions can be fulfilled according to the trust contract.

In particular, after the customer’s death, assets can be distributed or donated to a predesignated family member, acquaintance, or institution, as specified. Customers wishing to use funeral and belongings arrangement services can access these through separate contracts with partner institutions, and such costs can also be reflected in the trust agreement’s payment plan.

The service is not strictly limited to customers who are actually living alone. According to the company, even those with a spouse or family—such as customers whose children live abroad or who may have difficulty receiving help in emergencies, or those wishing to systematically prepare for asset management and posthumous plans—are able to seek consultations.

Shinhan Investment Corp. plans to continue expanding these services in response to the growing demand for long-term financial care among families with disabled members and the increasing asset management needs of single-person households. The company also intends to provide tailored trust solutions in cooperation with specialized organizations in legal, tax, medical, charity, and funeral fields.

Kwon Youngdae, Head of Investment Products at Shinhan Investment Corp., stated, "The Independence Trust for Persons with Disabilities and the Single Household Trust are meaningful in that they not only manage our customers' assets, but also help ensure their lives and wishes continue into the future. We will continue to strengthen our specialized trust expertise and partnership networks to best serve the lifecycle and social changes of our customers."

This content was produced with the assistance of AI translation services.