We participate in transactions covering all sectors of the national and international economy, including the financial, renewable energy, construction, industrial and commercial sectors.
We have effectively structured and administered more than two hundred (200) trusts. At present, the value of the trust assets administered by Icaza Trust Corporation exceeds Four Billion Dollars (USD 4,000,000,000.00), legal currency of the United States of America.
Created in 1996 as a subsidiary of the law firm ICAZA, GONZALEZ-RUIZ & ALEMAN, becoming the first independent trust company authorized by the Superintendency of Banks.
Structuring, Incorporation and Administration of Trusts
Estate planning trusts
It refers to trusts constituted by a patriarch or a family in favor of which assets are transferred to plan and manage their succession to the following generations.
Discretionary Trusts
Refers to Trusts in which the Trustee has discretion regarding the administrative and dipositive provisions of the Trust. Under discretionary trusts, distribution of capital and income arising from the trust patrimony in favor of the Beneficiaries is at the discretion of the Trustee. This means that no beneficiary is entitled to call on the Trustee to distribute capital or income arising from the trust patrimony.
Generally, a discretionary trust establishes a class of beneficiaries, and indicates sufficient elements to identify the members of the class. Power is generally conferred on the trustees to appoint beneficiaries of the established class or to remove of exclude individuals as beneficiaries.
It is common that, due to the extent of the broad discretional powers of administration and disposal of the trust patrimony, the Trustor provides the Trustee with a non-binding “Letter of Wishes” setting out his wishes on matters such as distributions, and the investment of the trust patrimony. The Trustee must consider the Trustor´s wishes in order to abide by them provided that they are reasonable and feasible in the prevailing circumstances.
Generally, a discretionary trust establishes a class of beneficiaries, and indicates sufficient elements to identify the members of the class. Power is generally conferred on the trustees to appoint beneficiaries of the established class or to remove of exclude individuals as beneficiaries.
It is common that, due to the extent of the broad discretional powers of administration and disposal of the trust patrimony, the Trustor provides the Trustee with a non-binding “Letter of Wishes” setting out his wishes on matters such as distributions, and the investment of the trust patrimony. The Trustee must consider the Trustor´s wishes in order to abide by them provided that they are reasonable and feasible in the prevailing circumstances.
Fixed Trusts
Refers to Trusts where the Beneficiaries and their substitutes as well as the rules for the disposition of the trust patrimony are set forth in the trust instrument. It is important to take into account that a trust may be a hybrid between a fixed trust and a discretionary trust.
Special Purpose Trusts
It refers to a trust created to meet a determined purpose. The object for which the trust is established must be clear so that under all circumstances be possible to state with certainty whether a proposed use or destination of the trust assets is within the purpose of the trust.
Commercial
Credit trust
It refers to trusts that serve as special purpose vehicles for granting or facilitating credit.
Administration
It refers to trusts through which property or assets are administered for the benefit of beneficiaries of the Trust, or for a specific purpose, as established in the Trust Agreement.
Guaranty
Refers to trusts by means of which credit obligations are guaranteed.
Source of payment
It refers to trusts that serve as special purpose vehicles to pay, administer, or make payments of a commercial nature.
Real Estate Development
It refers to trusts that serve as a special purpose vehicle to manage and control the development and sale of real estate projects.
Establishment & Administration of Escrow Accounts
Means a bank account set up by the trustee for a donor or depositor to transfer funds to be administered by the trustee as agent to secure a one-time transaction (i.e., sale and purchase).Custody of Corporate Documentation
Includes custody of corporate documentation that has an important value for the client, and therefore requires to be kept in custody by a professional who supervises and/or gives the required follow-up to this documentation.
