The best plan is worthless if not properly executed.
This article follows on from our earlier discussion on issues clients may need to consider before passing assets to their intended heirs. Here, we highlight some...more
4/2/2025
/ Asset Protection ,
Beneficiaries ,
Estate Planning ,
Family Limited Partnerships ,
High Net-Worth ,
Joint Tenancy ,
Offshore Funds ,
Succession Planning ,
Tax Planning ,
Trusts ,
Wealth Management ,
Wills
Under section 43(b) of the Trusts (Guernsey) Law, 2007, when a trustee resigns or is removed it may require that it be provided with reasonable security for liabilities before surrendering trust property....more
3/28/2025
/ Asset Management ,
Beneficiaries ,
Breach of Duty ,
Contract Disputes ,
Fees ,
Fiduciary Duty ,
Indemnity ,
Tax Liability ,
Trustees ,
Trusts ,
UK
As widely reported, the coming years will likely see a significant transfer of assets and wealth across generations.
Each family's circumstances will ultimately determine the nature and extent of these transfers, and any...more
Jurisdiction clauses in trust deeds are critical in determining the forum for resolving disputes. These clauses can be either exclusive, conferring jurisdiction to a specific court, or non-exclusive, allowing for flexibility...more
3/6/2025
/ Arbitration ,
Bermuda ,
Breach of Contract ,
British Virgin Islands ,
Cayman Islands ,
Contract Terms ,
Dispute Resolution ,
Enforcement Actions ,
Fiduciary Duty ,
Island of Guernsey ,
Jurisdiction ,
Settlement ,
Trustees ,
Trusts
In a remarkable evolution from its origins as a mere memecoin, Shiba Inu - now the 18th-largest cryptocurrency by market capitalisation, valued at an impressive US $8.8 billion - is on the cusp of a bold new chapter: the...more
2/25/2025
/ Blockchain ,
Corporate Governance ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Digital Assets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Trusts
As wealth management evolves, South African high-net-worth individuals ("HNWIs") are increasingly looking for efficient offshore structures to protect and grow their assets. One such option is "The Alphabet Trust" -...more
2/5/2025
/ Asset Protection ,
Beneficiaries ,
Corporate Governance ,
Corporate Structures ,
Estate Planning ,
Foreign Investment ,
High Net-Worth ,
International Tax Issues ,
South Africa ,
Tax Planning ,
Trusts
Employers are increasingly aware of the essential role top-performing employees play in the success of their business. With a globalised workforce and competitive job market, companies that do not focus on employee retention...more
Currently, no, there are not public beneficial ownership registers in respect of trusts (at least in the British Virgin Islands ("BVI"), Cayman, Jersey, Guernsey or Bermuda), however, if enacted in the form gazetted, the BVI...more
Introduction -
The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to...more
Introduction -
The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to...more
8/22/2023
/ Bodily Injury ,
Burden of Proof ,
Compensation ,
Contract Terms ,
Financial Services Industry ,
Foreign Currency ,
Insurance Industry ,
Island of Guernsey ,
Negligence ,
Summary of Consumer Rights ,
Unfair Contract Terms
This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more
8/9/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
EU ,
FATCA ,
General Data Protection Regulation (GDPR) ,
IAIS ,
International Monetary Fund ,
International Tax Issues ,
Island of Guernsey ,
Jurisdiction ,
OECD ,
Regulatory Agenda ,
Taxation ,
Telecommunications ,
TIEA ,
Transparency ,
UK
In our recent article (available here) we considered the findings of LB Marshall KC in Domaille, Clarke & Hannis (together the "Respondents") and the Guernsey Financial Services Commission (the "Royal Court Judgment"). In the...more
The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified...more
This briefing is the fourth in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to Virtual Asset...more
Notwithstanding the turbulent past few months, which have seen roughly $2 trillion worth of value disappear from the digital asset ecosystem, we are still seeing an increase in enquiries by high net worth individuals...more
This briefing is the third in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”), and provides an overview of the licensing regime applicable to “financial firm...more
“It is only when the tide goes out that you learn who has been swimming naked”. This quote – usually attributed to Warren Buffett – resurfaces when economic conditions worsen, but what does it mean? In the context of the...more
The States of Guernsey has approved the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”) which will regulate various virtual asset service providers (“VASPs”) and financial services businesses...more