Trusts

Guernsey trusts can be tailored to almost any individual client situation, the most common form being the Private Discretionary Trust accompanied by a Letter of Wishes from the Settlor which can be updated from time to time as circumstances change.

The extension to Guernsey in 1993 of the Hague Convention on the recognition of foreign trusts has given further impetus to the expansion of trust services in Guernsey. Under the Convention any jurisdiction which ratifies the Convention must recognise trusts which have been duly established under the laws of countries which have ratified the Convention.

Besides their private use in family situations, increasing use has been made of trusts as public investment vehicles (unit trusts) and for company pension schemes.