Settlor’s reserved powers and trustee’s limited liability – are private foundations the best of all worlds?
By Paolo Panico, Private Trustees SA, Luxembourg and Geneva, Switzerland
As private foundation legislation is promulgated in common law and mixed jurisdictions, Paolo Panico ponders two captivating features which differentiate this fashionable investment structure from the trust: the founder’s ability to retain powers and the unlimited personal liability of the foundation councillors.
Keeping Private Foundations in Perspective
By John Goldsworth, Director, The Foundation Society, UK
By Paolo Panico, Private Trustees SA, Luxembourg and Geneva, Switzerland
As private foundation legislation is promulgated in common law and mixed jurisdictions, Paolo Panico ponders two captivating features which differentiate this fashionable investment structure from the trust: the founder’s ability to retain powers and the unlimited personal liability of the foundation councillors.
Keeping Private Foundations in Perspective
By John Goldsworth, Director, The Foundation Society, UK
John Goldsworth illustrates the versatility and adaptability of the private foundation but warns of the need for careful consideration and individual drafting to suit the needs of each client.
Coming to America
By Gideon Rothschild and Ira Zlotnick, Moses and Singer LLP, New York, USA
Gideon Rothschild and Ira Zlotnick embrace the advantages of the hybrid trust and demonstrate why this creative structure has forced many to abandon traditional thinking and consider settling trusts in the US.
Asset Protection Techniques
By Joseph Field, Senior Regional Partner – Asia, Withers Worldwide, Hong Kong
Joe Field contemplates how asset protection trusts, as envisioned in the 1980s, have effectively disappeared and reveals how the innovative techniques pioneered during this period can be incorporated into traditional trust planning.
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