Trusts may be created under many circumstances and for many purposes. These include:
- Asset Protection. Ensure assets are controlled and managed by experts, in accordance with the settlor’s wishes and in the best interests of beneficiaries, especially where children are concerned.
- Tax Planning. Protect against possible wealth, inheritance and capital gains tax where appropriate.
- Succession Planning. Ensure assets are dealt with after the settlor’s death according to his or her wishes. Preserve the family fortune for the long-term benefit of the settlor’s heirs.
- Continuity of Business Ownership. Prevent fragmentation of control but preserve the intended economic benefit.
- Philanthropy. Provide an ongoing means to benefit chosen charities.
- Confidential Provision. Make provision, during lifetime or on death, for third parties.
A trust can be used directly or with other entities, such as holding companies, to own assets almost anywhere in the world. These assets include:
- Private company shares
- Quoted shares, bonds and government stocks etc.
- Real estate
- Cash – in any currency
- Intellectual property rights
- Hedge funds
- Life policies
- Art, yachts etc.
