Offshore Trust Company, Offshore Planning, Offshore Relocation

Trusts

Trusts, Offshore Trust Company, Offshore Planning, Trust Companies Isle of Man

We are able to assist with the setting up and administration of Trusts.

What is a Trust or Offshore Trust?

A trust (or Offshore Trust) may be described as an arrangement by which one or more persons (the "trustees") agree to accept property from another (the "settlor") and to deal with that property for the benefit of one or more persons ("beneficiaries"). If created during the settlor's lifetime, a trust will be established by deed or declaration. The trust deed will contain the terms on which the trustees are to hold the property, the powers the trustees may exercise and details of any protector (being an independent person appointed to monitor the actions of the trustees). It is also possible for an offshore trust to arise on death and specific trust provisions are often incorporated in a person's will.

Trusts have a wide range of uses for both private and corporate clients. A small sample of uses for a trust would be as follows:

• For wealth protection say where external threats to family wealth exist


• To protect the education of a minor


• For wealth transmission (e.g. where a business is being sold)


• For wealth succession (e.g. to manage the needs of a spendthrift, a minor or an incapacitated beneficiary)