Effectively Building and Managing a Family Trust [Part Five] The Running of a Family Trust
It’s been quite a journey establishing a family trust, and making all the appropriate arrangements. Now that we’ve run through the process of setting up and managing a trust, there is only one part left: the execution of the trust, and the distribution or accumulation of the capital and income. One of the key advantages of a discretionary trust is that assets can be distributed at any time, before or after the death of the settlor. A trust continues beyond the lifetime of the settlor. You can take advantage of this opportunity during your lifetime to observe your trust fund, even if you don’t wish for assets to be distributed yet.
Effectively Building and Managing a Family Trust [Part Four] Managing a Family Trust
Once your family trust is in place your assets are now under the control and oversight of professional trustees. However, this series wants to take you through the process in its entirety. The next step is the management of a family trust, and what needs to be done in order to maintain it and keep it working as you, the settlor, intended for the benefit of the beneficiaries.
Register of Beneficial Owners of UK Property Held by Foreign Companies
Last week, David Cameron hosted the international Anti-Corruption Summit, and met with world leaders to discuss plans to ‘expose, punish and drive out corruption’. It was a landmark event, marking the first such global declaration against corruption, and so served as a platform for some radical suggestions for worldwide reform. Among the commitments announced was
Effectively Building and Managing a Family Trust [Part Three] Drawing Up The Trust Documentation
Previously in this series, we have reviewed what a family trust is and what it can do for you, and the considerations you should make when planning to establish one. Now, having carried out your research into what being the settlor of a trust will entail, the stage is set for actually drawing up the trust documentation.
Effectively Building and Managing a Family Trust [Part Two] 3 Things To Consider When Setting Up A Family Trust
In part one of the family trust series we looked at the added benefits and assurance that family trusts or a will trust can provide you with, particularly when compared with a standard will. A family trust can be a great option to ensure that your hard-earned assets go exactly where you want them to
Effectively Building and Managing a Family Trust [Part One] Will, Trust or Will Trust?
When you work hard all your life to ensure a comfortable retirement and security/legacy for your family after you’re gone, you want your effort to be worthwhile. This means that you need to make suitable arrangements for your assets. A will is often the standard go-to approach when it comes to where your assets go, but a family trust can ensure that your wishes are followed as closely as possible, with a few key advantages which should definitely be considered.
The Alex Picot Team Dive In For Charity
This weekend saw the Alex Picot team don their speedos and swimsuits to take part in the annual Jersey Swimarathon. Three teams took to the water and powered through an average of 55 lengths. Their dolphin like endeavours raised approximately £600. Since it launched, in 1972, the Lions Club of Jersey Swimarathon has raised over
Double Whammy! Domicile And Property Rules To Come Into Force In 2017
UK Domicile and residential property rules are changing as of April 2017 and many people could be caught in the tax trap unless they act quickly. Whilst the changes proposed for 2017 are still out for consultation, it is widely accepted that the timeframe for being deemed domiciled in the UK will be shorter. It
Live in Jersey And Own A Property In The UK? You Could Be In For A Tax Shock!
UK residential property owners living in Jersey may be in for a shock. From April 2016, properties valued at £500,000 to £1 million will be liable to a property tax for the first time. Importantly for Jersey residents, the tax – known as the Annual Tax on Enveloped Dwellings (ATED) – applies to all properties
Jersey Developing Links In Africa
Along with attracting international delegates from the mining industry a small delegation from Jersey attended, sharing the stage with government representatives from countries including China and Canada. The mining industry is in decline clearly apparent with a substantially lower attendance than 2015. Official estimates are that it is 10% down but it feels like much
