Cayman Conversations - Part Two: Chris Duncan Talks With James Long Of Summit Trust

In this second instalment of our new Cayman Conversations series, Chris Duncan of Carey Olsen talks to James Long of Summit Trust about the role of the next generation of family members (or 'Next Gen') in the context of trust and private wealth structures in the Cayman Islands.

Chris Duncan (CD): James, it's great to catch up after so long in lockdown – our last round of golf seems like a distant memory!

There is a lot of talk in the private client industry about the impact that the 'Next Gen' of private clients (generally being the children of the settlor who are reaching adulthood and want to be more involved in family businesses) are having on trust structures and the private client industry in general. That certainly mirrors my experience, and if I reflect on my current matters (both contentious and non-contentious) they nearly all have a significant Next Gen element, either because our clients are proactively planning for the future alongside the Next Gen or