Yuanta Securities Korea Launches Wealth Succession Trust 'Gaon'... "Offering Tailored Services"

Yuanta Securities Korea has launched Gaon, a wealth succession trust service.

According to Yuanta Securities Korea on November 11, a wealth succession trust is a specialized inheritance and gifting service that manages and operates assets entrusted by clients during their lifetime according to their wishes under a trust agreement, then safely transfers the assets to their families at the time and in the manner they have specified. As South Korea enters a super-aged society, the service is growing rapidly because it can help prevent disputes among heirs, provide descendants with tailored distributions of assets, and establish a family safety net in preparation for the client's death or the onset of dementia.

The service comprises four types: will-substitute trusts, gift protection trusts, trusts for supporting people with disabilities, and insurance benefit claim trusts. It allows a range of assets, including cash, securities, and real estate, to be placed in a single trust agreement for integrated management and operation. During the client's lifetime, the client manages the assets as the beneficiary. After the client's death, the assets are transferred according to arrangements made in advance, such as providing for a spouse's retirement or supporting the independence and future plans of children and grandchildren. This is intended to help the surviving family carry out the client's wishes without complex procedures or undue burdens.

Yuanta Securities Korea has established a dedicated wealth succession trust team within its Trust Solutions Team at headquarters. With advice from external law firms, the company plans to provide systematic support for inheritance and gift planning, drafting contracts, legal and tax reviews, and posthumous execution. It also plans to offer services tailored to each client's circumstances by combining consultations with private bankers at its branches and aftercare from its head office.

"We have established a comprehensive wealth management system that supports clients throughout their lives, from building and managing their assets to transferring them to the next generation," said Hong Donghun, head of the Product Strategy Division. "We will be a reliable wealth management partner connecting generations by providing careful planning and services tailored to each client's circumstances, so that the assets they have built over a lifetime and their care for their families can be safely passed on to the next generation."

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