Supporting your assets - the rise of the use of trusts for modern commercial transactions
The development and use of the trust in the common law world has come a long way since the notion of holding property for the benefit of others was established during the Crusades. Trusts were later used as a way to keep landed estates in the same family over many generations while allowing the eldest son certain benefits. After this time, the use of trusts expanded and they were used to hold cash and other simple investments, often for tax deferral. In the last 20 years, trusts have been used for a wide range of purposes and for holding most forms of assets, including the most complex structured products and alternative investments. Typically, the trust is used to achieve the particular wishes of the settlor. But now others with a financial interest or stake in a family business are requesting the protection that a trust brings.
Maples and Calder’s Richard Grasby describes the rise in the use of trusts for modern commercial transactions to safeguard assets and highlights the Cayman Islands as the jurisdiction of choice
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