Trust specialist Edward Stone ran a breakfast briefing on the effectiveness of private trust foundations at the Transcontinental Trust Conference in Geneva last week.
Mr Stone, a consultant at law firm Collas Crill in Guernsey, presented at the event on Thursday 20 June on how foundations can be used to simplify private trust company structures. Guernsey introduced its own foundations law at the beginning of this year, providing an added level of flexibility to service providers who now have an extra tool on the menu of options available for best meeting client needs via Guernsey structures.
The Transcontinental Trusts Conference, now in its 28th year and the oldest trust event in Europe, brought together more than 25 key jurisdictions. This year's conference focused on key themes including the current issues facing trusts and trustees, particularly information exchange, and how trusts remain practical structures for clients across the world, whether from developed or developing countries.
Mr Stone said: "The Transcontinental Trusts Conference, with its wide mix of delegates drawn from across the globe, is the ideal forum to discuss using a foundation as trustee of a trust - as it combines elements which are familiar to clients, as well as their advisors, from both common and civil law jurisdictions. It can also simplify the private trust company structure and so will be an attractive alternative to the common model of a private trust company owned by a purpose trust."
* Follow this link to learn more about how Guernsey foundations can be used to simplify private trust company structures
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