Multiple Choice: Choosing The Right Guernsey Fiduciary Structure

With Guernsey's new Foundations law coming into effect back in January 2013, Guernsey now has the full 'toolkit' of fiduciary structures for wealth planning needs. In this briefing, Heath Martorella looks at the key issues for international clients and their advisors to consider when choosing the right Guernsey structure.

BACKGROUND

As recently as six years ago, a discretionary trust was the principal Guernsey fiduciary structure offered to international clients. Now, a far wider choice of structures is available following the advent of the Trusts (Guernsey) Law 2007, which allows the creation of non-charitable Purpose Trusts, Reserved Powers Trusts and Private Trust Companies, now accompanied by the new Foundations Law which came into effect in January 2013. But what are the key factors that clients and advisors should consider before making their choice of structure?