The legal qualifications for a trustee are simple: he/she must be over the age of 18 and legally competent to manage his/her own affairs.
Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals.
The use of trusts for long-term planning can provide many benefits; however, setting up a trust at one point in time to cover all potential future circumstances without flexibility is not advisable
The raison d’être for families to form a Private Family Trust Company (PFTC) is to maximize their lawful control over their wealth held in trust.
A Private Family Trust Company (PFTC) should be aware of its potential for liability and the ways in which liability can be limited or controlled.
In the coming years, it is likely that Trustees will be asked increasingly by beneficiaries to invest trust assets with an objective of advancing social or charitable causes, as opposed to achievin
Given today’s litigious society, Trustees should always ensure they are acting prudently in administering trusts by keeping an eye on inadvertently exposing trust assets to creditors.
Estate planning is often part of a divorce settlement, and negotiation of these terms can be as integral to the divorce settlement as allocation of parental responsibilities, support issues, or div