The Use of Trusts - Including Offshore Trusts

Trusts have been employed for over 400 years for a variety of personal, family or business purposes, for example:

a) to reduce substantially or eliminate death duties in respect of the settlor's assets;

b) to the extent permitted by law and public policy to protect assets against attacks by future, unknown creditors;

c) to protect family assets from the extravagance or bankruptcy of a beneficiary (protective trusts);

d) to make provision for someone under a legal disability (e.g. minority);

e) to lessen or eliminate probate formalities on the death of the settlor, while distributing assets in accordance with the settlor's wishes;

f) to set aside both legally and physically, assets to be used in a flexible way in the future, thus as a financial planning tool for a family;