Bermuda Trust Law - The Past 30 Years

With the Society of Trust and Estate Practitioners (STEP) recently celebrating its 30th anniversary, Carey Olsen's Ashley Fife has looked back at the key legislative, regulatory and trust law developments to take place in Bermuda over the past 30 years.

Bermuda remains a preferred jurisdiction in which to establish and maintain trusts (and increasingly, family offices). Bermuda's Courts and regulatory regime carefully balance privacy with the objective of maintaining appropriate regulation to preserve Bermuda's stellar reputation as a premier international financial services jurisdiction.

An important feature of Bermuda trust law is that it contains many provisions that can resolve problems or otherwise address concerns regarding the administration of trusts. This feature is supplemented by Bermuda's Courts' willingness to apply these provisions in a constructive manner. These qualities attract many high net worth families to establish trusts under Bermuda