DESIGN AND IMPLEMENTATION OF A COMPUTER BASED TRUST FUND MANAGEMENT INFORMATION SYSTEM (A CASE STUDY OF PTDF)

CHAPTER ONE

1.0 INTRODUCTION

A computer based trust fund is used in collection and processing of trust fund data and information. It is an effective tool in the hand of the organization to effectively manage trust fund data and information for the benefit of their clients. Trust funds are arrangements that allow individuals to create sustained benefits for another individual or entity. Parents sometimes establish a trust fund to provide some degree of financial security for their children; with the trust providing resources to meet basic needs after the parents are deceased. A trust fund can also be established to benefit a charity or other non-profit organization. A trust can include a wide range of assets. In addition to cash, a trust fund may include resources such as property, stocks, bonds, or any other type of financial instrument. The trust fund may be managed by a single trustee, or be structured to allow for more than one trustee. It is the responsibility of the trustee to see that the resources included in the trust fund are used in the best interests of the recipient of the trust. A trust fund normally has some limitations imposed on how the assets contained in the trust may be utilized. For example, the recipient may not be able to begin drawing any type of annual income from the trust until he or she reaches a certain age. In the interim, the trustee may be empowered to disburse funds necessary to provide food, clothing, and shelter to the recipient, and possibly also cover education related expenses. When the recipient reaches the age cited in the terms of the trust, he or she can normally begin to draw a limited amount of annual income from the trust, as well as petition for the right to assume full control of the trust. The main idea behind a trust fund is to allow grantor or donor who established the fund to rest assured that loved ones or a particular organization receive the benefit of his or her estate after the grantor dies. The trust is aimed at providing sustained support in some manner, rather than simply leaving the assets to beneficiaries through a last will and testament. This is a particularly efficient means of making sure that children are mature enough to manage the assets well before placing the responsibility in their hands.

1.1 STATEMENT OF THE PROBLEM

The events of Computer based trust fund management information system have been documented. This research will evaluate the perceived motion of Computer based trust fund management information system. In doing so, attempts will be made to answer the following questions:

a. What steps are taken in designing a Computerized Trust fund?

b. How can a Computerized Trust fund be implemented?

c. What are the implications of not meeting the above requirements?

d. How far have the Computerized Trust fund gone in achieving the desired goals?