David Hutchins and Grant Howitt of Fortis Guernsey explore recent developments in the review of Guernsey trust laws with particular emphasis on the impact of planned UK Treasury legislation and the role of the trustee
Reviews of the trust laws in Guernsey will ensure that offshore trusts remain flexible and attractive to individuals, corporate entities and their advisers who wish to explore the use of trusts in order to manage or structure their wealth. This article explores some recent developments, reviews the role of the trustee and also looks at steps being taken by the UK Treasury that may impact on this area of financial planning. The basic concept of a trust is that the settlor (the original owner of the assets being placed in the trust) gives the assets away to trustees who become subject to ...
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