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25 September 2018 / Alice Bricogne , Gavin Ferguson
Issue: 7810 / Categories: Features , Tax
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A wealth of trusts in the Channel Islands

​Gavin Ferguson & Alice Bricogne explain current trends in Guernsey & Jersey

  • Explains why semi-contentious trust practitioners are in demand in the Channel Islands.

In the past four decades, the trust industry in the Channel Islands has witnessed enormous growth and change, precipitating a corresponding evolution within the private wealth legal sector which has adapted to meet the increasingly complex needs of its clients. 

The 1970s, 1980s and 1990s saw a surge in the number of trusts being established in Guernsey and Jersey as a result of an increase in the sophistication of international tax planning, the UK's exchange controls and the migration of wealthy residents to the islands.

At that early stage, the lawyers servicing the growing body of trust companies tended to have broad, mixed practices, encompassing other legal disciplines such as corporate law, banking and litigation.

However, as the industry grew, and as trusts evolved from simple vanilla vehicles to the more complex, bespoke structures that began to emerge in the 2000s, lawyers started

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MOVERS & SHAKERS

Walkers—Muriel Marseille

Walkers—Muriel Marseille

Ashurst's Chief Risk Officer joins Walkers

Excello Law—John Osborne

Excello Law—John Osborne

Northern family lawyer John Osborne joins Excello

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

Trio of promotions announced at Kidderminster law firm mfg Solicitors

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The Chancery Division's long history comes to an end this autumn as it is reborn as the Business and Property Division, prompting questions over whether the shake-up is really necessary
The Financial Conduct Authority (FCA) continues to show that failing to disclose regulatory issues can attract harsher consequences than the original misconduct itself
Rejecting a generous settlement can prove an expensive mistake, as two recent high-profile cases demonstrate
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