Your family spans multiple generations and your assets and investments span across various jurisdictions and structures. Protecting your assets is fundamental to managing your wealth.
You want to feel confident that your assets, both personal and business, are protected, safeguarding your investments now and for the next generation of your family. Your asset protection structures need to in place early to guard against any future liability not when the liability has occurred or expected to occur. Asset protection structures – which often include a trust but may also include a foundation – offer a number of benefits.
Your reasons for establishing a trust may be for a variety of reasons including:
- Asset protection.
- Succession and estate planning.
- Preservation of family wealth.
- Avoiding forced heirship rules.
- Protecting the interests of minors.
Whatever your reasons, we can help by:
- Establishing your trust, whether it’s a discretionary, purpose, grantor, settlor directed or reserved power trust.
- Working with your legal advisers to draft the trust deed.
- Acting as trustee.
- Carrying out the day-to-day management and administration of the trust.
- Providing accounting services.
Private Trust Companies
If you want to remain involved in the on-going management of your trust structure, then it is worth looking at Private Trust Companies (PTC’s). Widely used by structured finance specialists for many years, PTC’s are now becoming a popular choice for private individuals and families. PTC’s are companies incorporated solely to act as a trustee of a specific trust or group of trusts. You can retain an element of influence over your underlying assets by directing the appointment of various roles at each level of your structure. We can help you and your family set up your own PTC.
If you wish to retain control over your assets but don’t wish to create a trust, then a foundation may be the answer. Foundations are attractive alternatives to a common law trust, particularly if you are more familiar with civil law. They can be an effective planning tool for private wealth, asset protection and charitable purposes; in some jurisdictions, they may be used for commercial purposes.
Like trusts, foundations do not have shareholders. Instead, they have a founder and beneficiaries. Unlike trusts, foundations are run, in accordance with their regulations, by a council rather than trustees or directors. Foundations also have their own legal personality and the ability to enter into contracts in their own right.
Our services in relation to foundations include:
- Establishing and administering foundations in a number of jurisdictions.
- Working with your advisers to draft appropriate rules and regulations for your foundation.
- Provision of council members, all drawn from our experienced senior management team.
- Acting as a registered agent.
- Administration and accountancy services.
When you establish an entity, it needs to meet your requirements. You need to feel confident that it’s the right type of entity, in the right jurisdiction. Our expert teams work with you and your advisers to ensure those needs are met. We also provide qualified professionals – trustees, directors, protectors, company secretaries - for your entities and on-going administration support throughout the lifecycle of your structure.