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ARTICLE · 18 AUGUST 2015

Bend Me Shape Me...Restructuring And Reshaping Trusts In Bermuda

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A significant problem with older or bespoke trust deeds is often that they may have been rigidly drafted to suit a client's intention or reflect statutory requirements which have long since changed.

BermudaWealth Management
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A significant problem with older or bespoke trust deeds is often that they may have been rigidly drafted to suit a client's intention or reflect statutory requirements which have long since changed. Unfortunately, they may not provide sufficient flexible powers to enable the trustee to adapt to unforeseen circumstances.

The unforeseen circumstances may be:

  • A change in the settlor's business, investment objectives and strategies
  • A marriage breakdown of the settlor or a beneficiary
  • Disputes involving beneficiaries a change in the settlor's or a beneficiary's financial circumstances
  • A change in residence or domicile of the settlor or beneficiaries or location of trust assets

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