Private Trust

A trust is a legal obligation that comes into existence when an individual or other legal entity (known as the settlor) transfers the legal ownership of assets to another person or legal entity (known as the trustee) to hold these assets, not for their benefit, but the benefit of beneficiaries who can be individuals or otherwise, which would often include family members.

The settlor will provide the trustee with a letter of wishes which is a confidential letter between the two parties and although not legally binding on the trustee the letter acts as guidance for the trustee when administering and distributing the trust fund.

Uses and advantages of a private trust include:

  • Estate planning - avoid probate formalities and succession laws in the settlor's county of residence
  • Tax planning - income taxes, capital gains tax and inheritance tax may be minimised or deferred by transferring assets to a private trust
  • Asset protection – assets are no longer held by the settlor and can be used for protection against future claims made against them
  • Confidentiality - assets are held in the trustee's name and not by the settlor or beneficiaries
  • Consolidation of assets whereby worldwide assets can be placed in one holding vehicle to simplify both asset management and financial reporting

Our services include:

  • Provision of a corporate trustee
  • Library of trust instruments available for ease of creation
  • Provision of corporate protector