You can safeguard your investments for the future with Royal Skandia Trust Company
Royal Skandia Trust Company is an expert in its field. You can choose to appoint a professional trustee to act on your behalf to ensure you can fully enjoy the numerous benefits where relevant in your circumstances.
Asset Protection
By holding assets within an Isle of Man trust structure, the legal ownership of those assets has been transferred from your ownership to that of the trustees. Therefore, these assets are no longer considered your personal assets. This is still the case even if you are still a potential beneficiary under the trust. It may be worth considering appointing offshore trustees of a trust as a form of protection in the event of anything happening to your assets in the future.
Confidentiality
The terms of a trust, unlike those of a Will, are private and can offer confidentiality. The information contained in a trust is not a public document unlike, in certain jurisdictions, a Will. Where there are complex family situations or the person declaring the trust would like some privacy over who can benefit then a Royal Skandia trust may prove an appropriate vehicle..
Non-biased assistance
Without the possibility of personal complications, you can be confident that when Royal Skandia Trust Company act, they are not biased when acting in accordance with the provisions of the trust deed. Whereas a friend or family member might struggle with the complexities of trust law, especially if the trust is subject to a different jurisdictional legal system, when you appoint Royal Skandia Trust Company, you can be confident that the relevant Isle of Man regulations are not being breached.
Stable jurisdiction
It is important to ensure that the trust assets are held in a jurisdiction noted for its stability, both political and legal, as well as its regulatory environment. For these reasons the Isle of Man is a popular location.
Forced Heirship
Depending upon the jurisdiction in which you live or own your property, you may not be free to decide who should benefit from your estate when you die. In many countries, laws of succession define specific rights for heirs, known as forced heirs. Argentina, Brazil, Spain and France are examples of countries which have such prescribed rules.
The primary purpose of forced heirship is to ensure that you make proper financial provision for your dependents. A trust governed by the laws of a country other than that in which you live can sometimes be used to provide more control over asset distribution in these circumstances.
The law in the Isle of Man recognises your right to create a trust under Manx law, even if your home jurisdiction does not. The Isle of Man courts will not enforce the rights of dispossessed heirs under a Royal Skandia trust set up in the Isle of Man. The forced heirs disinherited by the trust may try to challenge in a different country. Whilst the Isle of Man courts would claim jurisdiction, it would be for the foreign courts to decide if they are willing to hear the action.
Final thought
When considering professional trustees, it is extremely important to consider carefully the many jurisdictions where professional trustees are based. Costs cannot be overlooked, but where the services are linked to an established financial services strategic partner like Royal Skandia these costs can be significantly reduced.
Professional trustees will not be suitable for everyone, but the potential benefits, cost savings arising from use of our expertise and peace of mind we can offer for you, may well be worth considering.
Click here for more information on RSTC.