Trusts and Trustee Services
A Trust is a financial instrument for personal financial planning. It is created by one or more ‘Settlers’ asking one or more ‘Trustees’ to hold assets for the benefit of a third group, the ‘Beneficiaries’.
Settlers and Trustees may be individuals, companies, charities or other legal entities. The assets are held in accordance with the terms of a Trust Deed, which grants the Trustees specific powers over the assets for a prescribed period of time.
One of the main reasons to hold assets in a Trust is that it allows you to minimise taxation at source. Many Trusts are established in offshore jurisdictions, with an offshore Trust company acting as Trustee, so that the assets and income are free from inheritance and gift taxes, capital gains tax, income tax and wealth tax.
Particularly for individuals, a Trust is an ideal way to:
Preserve wealth against uncertainly – political, economic, or other;
Transfer wealth in the most tax-efficient manner and in accordance with your wishes, rather than the laws of a country;
Consolidate ownership of assets in one location with centralised reporting.
There are many different types of Trusts, and the choice depends on nationality, country of residence, domicile, as well as other factors.
There is no doubt that a Trust is a master holding vehicle that can provide considerable financial benefits and significant flexibility – if handled by experts who fully understand their complex scope and versatility.
Woodbrook Group Corporate Service will create the ideal Trust to match your circumstances and offer all the necessary Trustee services so you can simply enjoy the benefits.