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Specialism: Lawyers Non-contentious Trusts
Company: Carey Olsen
Location: St Helier, Jersey
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Average client size: Over £25 million
Fixed fee offering: Yes
Number of offices globally: 1-5
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Restructuring of UHNW assets and creation of new trust
Creation of a new private trust company structure as part of the restructuring of an UHNW client’s assets, involving a private trust company owned by two shareholders: the trustee of a purpose trust and a foundation (each having different powers in respect of the PTC), with three independent professional trust companies providing different services to the structure. The principal wished to divide the roles of the service providers for internal risk management reasons. Complex negotiation and drafting was required in respect of the division of services between the three different trust company businesses.
Advising on a wealth structure enabling UHNW to retain high level of control
Establishment of a private trust company structure for a high net worth individual with complex constitutional arrangements at all levels to allow the settlor (and thereafter various family members) to retain a high level of control over all aspects of the structure. Sadly, the settlor has since passed away and oversight of the structure has passed to the successor’s family members. Advising on, and drafting complex bespoke documents for, all Jersey aspects of the structure, including the transfer of substantial assets into the structure.
Restructuring of a family office
Advising on all Jersey law aspects in connection with the major restructuring of a family office structure established for the benefit of an ultra-high net worth family, including winding-up six substantial private trust company structures, including approximately 50 trusts and over 100 underlying companies.
Advising and drafting documents in connection with a corporate trustee transferring the trusteeship of a portfolio of approximately 150 trusts and the related transfer of trust assets and novation of contractual obligations.