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Parental support, your control

Guernsey's fusion of ?new foundations law ?and trust heritage offers the best of both worlds when clients want control of their structures, says ?Edward Stone

4 June 2013

Private trust companies have become popular with clients. They offer a far greater degree of control or influence over the trustee than where an institutional trustee is appointed, whether through the client being directly involved in decision-making as shareholder and director, or indirectly through the ability to choose or influence who makes the key decisions.

There's also continuity, which is all the more important where the underlying wealth is substantial and more complex than an ordinary trust with a classic portfolio of liquid investments. Where an institutional trustee is appointed and needs to be changed for whatever reason, the handover is not only time-consuming and expensive but also disruptive as new personnel familiarise themselves with the assets and needs of the family.

Recently, this has become significant as more and more trust companies across the industry consolidate or se...

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