Applications

• Efficient estate administration and succession - avoiding delays and costs
• Forced heirship provision - avoiding related problems in ‘settlor’s’ country of residence
• Tax planning – assist in structuring your affairs in a tax efficient manner
• Protection from Estate Taxes
• Cross border financial planning
• Protection of assets from seizure and unreasonable claims
• Confidentiality
• Simplified administration - ease of administration and reporting of family’s worldwide assets
• Protecting the interests of minors and vulnerable family members

Types of Trusts
Although there are many kinds of trusts, for a variety of different purposes, the most common private trusts are listed below.  Private trusts are also known as specialist trusts because they are set up for a special reason.

Discretionary Trusts - give the trustees complete discretion in the distribution of capital and income, to the beneficiaries.

Accumulation and Maintenance Trusts - income is either accumulated or paid out for the maintenance and education of the beneficiaries, until they reach a certain age.

Fixed Interest Trusts - provide one or more beneficiaries with a defined interest in the Trust.

Purpose Trusts - created for a particular purpose (often an identified transaction), there are no ascertainable beneficiaries and they are generally dissolved when the purpose is achieved.

Trust Taxation
Trusts can, in certain cases, provide a tax efficient environment to hold or manage assets. These assets can range form cash and shares to property and other unique assets such as works of art or other collections. Close will work closely with your tax advisors to establish a solution, which meets your individual circumstances.