The ability to place assets into a structure which can be used to benefit others has been at the heart of the use of trusts for centuries.
Trusts allow their creators to set out the terms on which their family and descendents will be able to benefit for their duration. This provides an element of influence over the destiny of a family’s assets that would not be possible through merely transferring them by lifetime gift or upon death.
The creator of the Trust can maintain contact with the Trustee during his lifetime and consult over decisions and strategies affecting the Trust and its beneficiaries. The creator might also retain some ability to add or remove beneficiaries or even revoke the Trust if this is appropriate.
The Trustee will hold and administer the assets in accordance with the rules set out in the Trust and its main consideration is for the beneficiaries. The Trustee must be able to account for the assets and for its administration and any failure to keep to the terms of the Trust can be challenged by the beneficiaries, whose rights are fully protected in Jersey Law.
Creation of trust structures and the transfer of legal ownership to a Jersey trustee can provide benefits and opportunities in many areas of wealth and fiscal planning. It also provides comfort that the trust assets will be protected for generations by the Laws and Regulation in an island with a global reputation for its expertise and integrity.
