A fiduciary structure can help preserve your wealth as well as offering you greater flexibility over the management and distribution of your assets. The most common type of fiduciary structure is a trust, a binding arrangement whereby assets are transferred to a “trustee”. The trustee becomes the legal owner and is responsible for managing the assets and distributing them to the beneficiaries of the offshore trust (which could include the person or corporation which transferred the assets to the trustees) in accordance with the terms of the trust deed.
The terms on which the trustees administer the trust assets are detailed in a trust deed and trust legislation to govern trusts has been enacted in many common law jurisdictions. The trustee is required to administer the trust assets for the benefit of specified beneficiaries strictly in accordance with the terms of the trust. Through Orianda Management Group’s licensed Trust and Trustee companies, clients are offered:
A tailor-made service for the establishment of an offshore trust
Trusteeship and related services
Administration of the trust funds.
Trust accounting and maintenance of asset ledgers
Reporting and filing as appropriate
A correctly structured and administered trust may produce substantial savings in income tax, capital gains tax and inheritance tax/estate duty.
Trusts are a powerful tax-planning tool but they also have many other uses that are of equal, if not greater, importance. A properly drafted and managed trust can be advantageous for any or all of the following:
