What is a Trust? A Trust is a legal entity involving three roles: The Grantor or “Trustor”, the Trustee, and the Beneficiary. The Grantor (the creator of the trust) will give the Trustee the right to hold and manage property...more
Unanticipated changes in the law or circumstances may derail a careful plan to preserve a client’s intent to transfer wealth through trusts. A “trust protector” originated from a need to protect offshore trusts from...more
Welcome to the sixth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia. This edition features articles on offshore...more
In the Matter of the X Trusts [2021] SC (Bda) 72 Civ (7 September 2021) - Assistant Justice Dr Ian Kawaley of the Supreme Court of Bermuda has provided a seminal judgment on the role of Protectors in offshore trusts. Such a...more
This presentation will cover Texas cases dealing with fiduciary issues over the survey period. Some of the issues involve the removal of a trustee, the resignation of a trustee, the production of confidential trust...more
One of the most important decisions a special needs trust's donor (the person who supplies the funds for the trust) makes is the choice of a trustee for the trust. A trustee typically manages the day-to-day operations of the...more
In In re Macy Lynne Quintanilla Trust, a settlor created three trusts for his children in 2014. No. 04-17-00753-CV2018 Tex. App. LEXIS 8223 (Tex. App.—San Antonio October 10, 2018, no pet. history)....more
A recent article in the Real Property, Trust and Estate Law Journal [Volume 50, Number 2, Fall 2015] discussed the phenomena of grantors of trusts "increasingly naming trust protectors, particularly for a trust that may...more
The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0%, which is unchanged from last month. The December applicable federal rate ("AFR") for use with a sale to a defective...more