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Specialism: Lawyers Non-contentious Trusts Estate Planning
Location: St Peter Port, Guernsey
How can trust litigation be avoided?
When drawing up a trust structure, “the prospect of divorce is never far from the mind, these days, of the settlor or the draftsman”, said Chris Hards. “A successful claim against trust property, has the potential to deplete assets and thus the anticipated benefit to future generations.”
With that in mind, asset protection structures are established in a way to reduce this risk. Examples may include, “ensuring that spouses of the beneficiaries are not themselves beneficiaries and limit the beneficiaries’ rights to both trust assets and trust information so far as the law permits”.
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Average client size: £5 million - £25 million
Fixed fee offering: Yes
Number of offices globally: More than 5
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Trust's beneficiaries involved in divorce, drug and alcohol problems, and challenging their late father's will
Assisted a local fiduciary firm with a trust embroiled in family issues where the four beneficiaries had variously been involved in English divorce proceedings, dealing with drug and alcohol problems, and challenging their late father's intentions and wishes with regards to the establishment of the trust. We assisted the trustee in navigating the complicated legal issues that this unique set of circumstances presented.
Providing Guernsey trust law advice on a multi-million pound company acquisition
Providing Guernsey trust law advice on a multi-million pound company acquisition with sale proceeds routed through several Guernsey trusts and particular consideration given to the transfer of liabilities under the sale and purchase agreement.