ARTICLE · 06 MARCH 1998

Trusts In Jersey - Reasons for Creating a Trust

KPMG

JerseyTax

There are many reasons why a person may wish to create a trust. The following are some of the most common:

To protect assets from the effects of taxation, exchange control and the risks of expropriation by foreign authorities.

To achieve confidentiality.

To dispose of the beneficial ownership of assets before taking up residence or becoming domiciled in a country with high gift, capital or income taxes.

To avoid dissipation of family wealth by virtue of, for example, bankruptcy or marriage.

As a means of relinquishing legal ownership while retaining some enjoyment of assets (for example the occupation of real property).

To create a separate and specific fund to provide for, for example, mentally handicapped members of the family.

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Trusts In Jersey - Reasons for Creating a Trust

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