Non-charitable purpose trusts in Guernsey
Traditionally, a valid trust requires at least one beneficiary capable of benefiting. The reason for this restriction lies in the enforceability of the trust — if there is no beneficiary to enforce the trust, who will ensure that the trustees are doing as they should?
However, while many elements of trust law are as they always were, one of the attractions of trusts is that they are a flexible, evolving concept, developed to cater for changing times and capable of adapting to modern life.
This evolution has paved the way for purpose trusts, which under English law are permitted in certain circumstances. For instance, charitable trusts and trusts for certain kinds of limited purpose are permitted, but with a number of restrictions…
If you are registered and logged in to the site, click on the link below to read the rest of the Ogier briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
Funds update: AIFMD implementation under fire; European agreement on beneficial ownership registers; and more
Also: new Jersey accounts documentation and recent case law.
One of the key features of Jersey’s funds industry is the range of structures and regulatory approaches that can be used.