Trusts & Settlements

For centuries trusts have been a feature of wealth preservation. Modern estate planning continues to utilise trusts, both during an individual’s lifetime and under his or her will. Trusts are useful not only for financial planning purposes, but also to provide for the orderly administration of a family’s assets or to enable certain assets to be managed on behalf of those who would be unable to do so for themselves either because of age or incapacity.

Our trust specialists have an enviable reputation in the establishment and administration of Isle of Man trusts. We have experience in co-ordinating advice received from advisors in various countries in situations where clients have a multi-jurisdictional asset and/or family base. Through our membership of Lex Mundi, we have a network of contacts throughout the world who are able to help us in providing comprehensive advice to international clients.

Our private client department can advise on the proper interpretation of trust documents, the duties of trustees and rights of beneficiaries. We can draft the appropriate trust documentation and prepare trust accounts, the former including both appointments under settlements and applications to the Court, where the Court’s consent is required to the variation of a trust.

Recently, the regulatory issues facing the financial services industry have grown considerably, putting professional institutions under increasing pressure to ensure proper compliance in a manner which does not impinge unduly on the day to day running of their businesses. Professional trustees have also been faced with legislation, such as the Trustee Act 2001, affecting the extent of their various powers and duties. Against this background we are well placed to advise both financial services institutions and corporate trustees on the impact of new legislation and on the implementation of business systems to ensure ongoing compliance.

In addition we have considerable experience of acting for professional trustees in relation to specific structures and representing their interests when considering the exercise of their powers and discretions, answering beneficiaries’ requests for information or being caught in the middle of family disputes. Advice in these situations needs not only a detailed knowledge of the law, but also a proper understanding of the circumstances of the beneficiaries in question and a commercial approach to problem-solving.

More information

For more details please contact: Ben Hughes .

Contact us

If we can help you with any requirements please call us on +44 1624 638300 or email us your enquiry to