Harbour Trustees Limited can act as Trustee for Trusts governed by Guernsey or other laws, subject to the terms of the Trust or the law.
Trusts are used for a variety of purposes and are a flexible instrument which can accommodate family needs as well as commercial transactions.
A traditional Trust is created by the transfer from an individual (the Settlor) of the legal ownership and control of assets (the Trust Fund) to a third party (the Trustees). Certain terms and conditions will apply and will be recorded in writing (the Trust Deed). The Trustees are required to act in the best interests of the persons for whom the Trust has been established (the Beneficiaries).
The Beneficiaries may be named in the Trust Deed or by reference to their relationship to the Settlor (a class of Beneficiaries).
In administering the Trust the Trustees may seek general guidance from the Settlor as to who, when and in what manner various people may benefit. The Settlor provides such guidance in a “Letter of Wishes”. This letter can be amended by the Settlor as circumstances change. It is not legally binding on the Trustees.
Harbour Trustees Limited not only has extensive experience of establishing new Trusts, but also of taking over the trusteeship of existing Trusts.
We always welcome the opportunity to discuss with potential clients and their advisors how we can assist, please just contact us to do so.