Trusts and Private Clients
Explore the innovative Trusts (Guernsey) Law, 2007. In this piece, readers will learn about the relationships between Protectors, Settlors, Trustees and Beneficiaries, the fiduciary relationship. This piece explores the practical uses for a Trust, such as asset management and protection, free choice of beneficiaries including provision for vulnerable beneficiaries, multi-generational succession planning, philanthropy and flexibility over distribution of assets.
The protection of a Trust is also outlined, and provisions against misuses of a Trust within the Law under Section 27 and Section 15. The key features of the Trusts (Guernsey) Law are outlined, including;
-
A Trust may be charitable or non-charitable
-
A settlor may reserve certain powers or confer certain powers without affecting the validity of the Trust
-
A Guernsey Trust can last for an unlimited period
The highlights of choosing Guernsey are explained, highlighting the Independence, experience, and stability of the jurisdiction.
