Offshore Trusts: Misunderstandings, Pitfalls And Solutions (3 Of 3)

Establishing an effective Offshore Trust that is both operationally sound and achieves the Settlor's objectives is of paramount importance, but can be fraught with pitfalls. As a Trust service provider we often find that Settlors and individual Trustees can have misconceptions about their roles, responsibilities and the Trust itself. These misunderstandings can culminate in issues and create unintended liabilities. This series has considered the key elements of Offshore Trusts; If you would like to read the other articles in the series you can find them here:

• Offshore Trusts: An Introduction (1 of 3)
• Offshore Trusts: Types and Uses (2 of 3)

In the final article in this series, we will examine the most common misunderstandings and pitfalls for Settlors and Trustees to be aware of. Where appropriate, we suggest some best practices for avoiding future problems and how a Trust service provider can help. We will be discussing: