Charitable Trusts And Guernsey

Kerrie Le Tissier of Bedell explains why non-charitable purpose trusts can be a useful tool for estate planning and wealth preservation.

Guernsey statutory law has provided for non-charitable purpose trusts (usually known simply as 'purpose trusts') since the Trusts (Guernsey) Law, 2007 (as amended) was brought into force in March 2008. This type of trust operates much in the same way as the more traditional types of trust structures and the form and contents of the trust documents are usually similar. The trustee still holds the trust property on trust subject to the powers and duties set out in the trust instrument and the legislation and the same requirements for a valid trust apply.