Partner | London
More and more families are choosing to set up their own private trust companies to facilitate the preservation of family wealth for multiple generations.For those who have resources, private trust companies provide several advantages. These include the opportunity to choose the fiduciaries involved in managing the assets with limited trustee liability. They also offer continuity in management, reduced fiduciary risk and personal service which is becoming more important to families.
Worked for a Greece based family office of a family with USD 3 billion of shipping, mining, commodity trading and real-estate assets on the establishment of Cayman and Bermuda based private trust company structures for the segregated protection and ongoing management of their personal and business interests in such a way that they are protected from domestic risks.
We advised a long term UK resident European family on the reorganization of their trust structures in light of potentially penal changes to their home tax code. Private trust companies and trusts were converted into limited liability partnerships with the general partner mimicking the control and governance mechanisms previously used in the private trust company.
We worked alongside Brazilian counsel to advise a client on the FATCA and CRS reporting requirements applicable to their complex succession structure for his offshore assets. These included a private trust company, trusts, companies and other entities, a private investment fund and multiple investment accounts, and involved the Bahamas, the Cayman Islands, Switzerland and the US. The advice also needed to take into account the client's plans to relocate his family from Brazil to London, and possibly thereafter to New York City.
Creating multiple trusts, and private trust company arrangements to govern them, for a billionaire Mexican family to ensure compliance, confidentiality and efficiency in the management of their non-Mexican assets.
Advised clients with cross-border interests in relation to the construction of private trust company structures, which effectively allowed for family business succession planning, cost reduction and greater control over certain trust decisions and tax minimization in the jurisdiction of domicile and internationally.
We were instructed by this family, consisting of several members spanning two generations, in relation to setting up a private trust company structure (PTC). The PTC acts as a trustee of a master trust to hold the family office, family business and family investment entity. The beneficiaries of the master trust were a series of "feeder" trusts established for the benefit of each of the family members and their respective families together with a number of charitable entities. In addition, we advised the family on establishing a sophisticated governance structure, including a family council and family constitution.
We have lots more news and information that you'll find informative and useful. Let us know what you're interested in and we'll keep you up to date on the issues that matter to you.
We offer a full range of services to individuals and businesses. Find out how we can help you solve challenges and maximize opportunities.
Our website will give you a flavour of the advice we provide - if you would like to talk to us for more information, please contact our client services team who will be happy to assist.