AW Trust services
Anthony Whatmore and Company is a specialist provider of trust services offering expertise in the formation of trusts, assets protection and estate planning. There are numerous benefits in transferring ones assets into a properly structured and administered trust including:
- Asset protection
- No Capital Gains tax
- No executors fees
- No estate duty
- Protection of minors
- Estate freezing
Various court cases have highlighted the role of an independent trustee in trusts and have held that the trust is undermined where the functional separation between control and enjoyment ie. Between trustees and beneficiaries, is lacking. The appointment of an independent outsider as trustee to every trust in which the trustees are beneficiaries and the beneficiaries are all related to one another is no longer an option but a prerequisite.
Furthermore, without the independent trustee, the assets in the trust will be deemed to be an extension of yourself and susceptible to attachment by creditors and the trust viewed as a “sham trust”.
It follows therefore that the independent Trustee role can no longer be taken lightly. The administrative consequences are that the independent trustee needs to be active in your trust. In fact having a person who is skilled in the administration of trusts as your independent trustee will be to your benefit because they will be able to assist you with the correct administration of the trust ensuring that at all times you comply with the prevailing law and thus ensuring that the trust does afford you the protection that you seek from it.
We are able to offer you the services of an independent trustee. Contact our offices for more information.