Question 1

1.	Is the Mwamba Trust Fund a registered legal entity?

Accepted Answer

Yes.  The Mwamba Trust Fund is established under Cap 164 of the Laws of Kenya.  It is registered and was duly incorporated under the Ministry of Lands and Physical Planning on the 20th of June 2019 vide Certificate Number 310590.

Question 2

2.	What is the difference between a trust and a Will?

Accepted Answer

A trust is long term and the instructions of the client cannot be contested in a court of law, unlike a Will which can be contested and broken by a court of law. Therefore, a trust offers you anonymity unlike a Will which becomes a public document on your demise.

Question 3

3.	What is a trust?

Accepted Answer

It is a form of estate planning which provides the client with a solution to plan and provide for his nominated beneficiaries without the interference of public scrutiny as is the case with Wills.

Question 4

4.	Who is eligible to set up a trust?

Accepted Answer

Any person above the age of 18 is eligible to set up a trust.

Question 5

5.	How do fund the trust?

Accepted Answer

The client is at liberty to contribute/fund the trust in a manner that is suitable to them.  It can be a one-off contribution/capital injection or periodical in a frequency of their choosing.

Question 6

6.	Discretionary trust and powers executed by the Head of Pension

Accepted Answer

Each Individual shall be governed by the terms and conditions of the Trust Deed. In transferring benefits to the Mwamba Trust Fund. Where there are disputes the HOP ensures the client signs a grant letter.
The Administrator shall furnish to the Mwamba Trust Fund in writing the names of the settlor, beneficiaries, and their ages in respect of setting a Trust.

Question 7

7.	What is a grant letter?

Accepted Answer

This is the contractual document/service level agreement that establishes the relationship between the client and the Trust.

Question 8

8.	Can I access the money at any time?

Accepted Answer

This is dependent on the initial instructions given in the Grant letter.

Question 9

9.	How long will the Mwamba Trust Fund pay school fees for my beneficiaries?

Accepted Answer

The Mwamba Trust Fund will pay fees for the nominated beneficiaries until that time when either the fund in the account is diminished or the youngest beneficiary has completed their education or as per the settlor.

Question 10

10.	How to get started?

Accepted Answer

Execute a grant letter giving instruction on your preferred Trust to be set up to suit your need(s).

Question 11

11.	How can I apportion benefits?

Accepted Answer

Using the principle of equity where no party is disadvantaged on account of their status.

Question 12

12.	When and how can I access my statement?

Accepted Answer

At any time through the website member portal or from our offices on request

Question 13

13.	Will my money earn any interest?

Accepted Answer

Yes.  The funds are invested by a professional and licensed fund manager to ensure that the principal amount is conserved while earning interest.  The Trust also has a professional custodian who ensures that your money is held in safe custody.

Question 14

14.	Why MWAMBA TRUST FUND and not insurance?

Accepted Answer

The Trust offers a wide range of services to the beneficiaries e.g. payment of fees directly to the learning institutions, paying for medical fees, catering for upkeep for more than one nominated Next of Kin without bias while earning interest over the period the funds are in our custody.

Frequently asked questions

1. Is the Mwamba Trust Fund a registered legal entity?

2. What is the difference between a trust and a Will?

3. What is a trust?

4. Who is eligible to set up a trust?

5. How do fund the trust?

6. Discretionary trust and powers executed by the Head of Pension

7. What is a grant letter?

8. Can I access the money at any time?

9. How long will the Mwamba Trust Fund pay school fees for my beneficiaries?

10. How to get started?

11. How can I apportion benefits?

12. When and how can I access my statement?

13. Will my money earn any interest?

14. Why MWAMBA TRUST FUND and not insurance?