The Law Commission's review of trust law now enters the decision-making phase with the release of a 'directions paper'.

Many fiduciaries will be surprised when preparing fiduciary income tax returns for 2013 because of the new 3.8 percent tax imposed on net investment income, sometimes known as the Medicare surtax.

Courts in common law jurisdictions continue to grapple with how to deal with a spouse's interest in a discretionary trust when there is a marital breakdown, and whether to include them in property division.

The Isle of Man is a jurisdiction well known for the establishment and management of both Isle of Man Trusts and Foundations.

A recent High Court decision has been published which demonstrates the care required when dealing with gifts to non-UK charitable entities.

At Ogier we continue to see Jersey trust companies winning substantive mandates for new private wealth structures.

Where a trustee makes a mistake in the exercise of their powers, innocent beneficiaries should have relief from the consequences of that mistake.

Exoneration clauses are used in trustee documentation in order to restrict a trustee’s liability for loss or damage to the trust fund.

For those who attended the STEP Isle of Man annual conference on 14 October 2022, you will have heard Isle of Man Senior Associate Erin Trimble-Cregeen, together with Partner Jared Dann from Appleby Jersey...

One of the key features of the newly transposed Fourth Anti- Money Laundering Directive (Directive 2015/849/EU) is the imposition of an obligation on all European Union Member States to ensure that all incorporated corporate ...

Bermuda has been engaging in tax information exchange with other jurisdictions since the 1980s. This article, which is based upon a paper presented at the...

Governor Andrew Cuomo signed the New York Non-Profit Revitalization Act of 2013 into law on December 18, 2013

Both statute and common law principles allow a trustee to invoke the Court’s supervisory jurisdiction of a trust.

On the 21st March, 2020 the MFSA published a circular it drew up the day before on the timing of certain regulatory reporting due by various licensed entities, licensed by the MFSA.

The Cayman Islands Government has passed a number of amendment laws to strengthen Cayman's anti-money laundering and counter-financing of terrorism regime.

The Cayman Islands Government has passed a number of amendment laws to strengthen Cayman's anti-money laundering and counter-financing of terrorism regime.

It is worth noting as a starting point that there is no requirement to appoint a protector. It has been suggested that the concept has been more popular in relation to offshore trusts because ...

In 2015, the MFSA conducted a Thematic Review Questionnaire amongst 60 authorised trust companies (‘authorised persons'), which represent approximately half of the licence holders authorised in terms of the Trusts and Trustees Act.

Once upon a time there were only two certainties, death and taxes – both highly relevant to private client legal advice.

It has been said that the narrow view of protector consent provisions has the effect of limiting the role of the protector.[1] To this, Kawaley AJ in X Trusts said: