In the ever changing financial
environment, the Private Foundation is now seen to offer not only greater
flexibility to Founders and associated Beneficiaries, but also to those vested
with the responsibility of administering their assets.
A Private Foundation is a unique form
of legal entity, which acts like a Trust and operates like a company, without
members or shareholders.
There are a number of similarities to
Trusts in as far as there is a Founder, (like a Settlor) who can divest himself
of assets for inheritance, asset protection and investment reasons, and a
Foundation Council (Trustees or Board of Directors) who oversee the
administration of the foundation. A foundation is generally used to protect the
wishes of the founder whether that be an individual or corporate entity.
Importantly the Foundation has no owner, this means the assets held by the
Foundation form a separate estate from the Founder's personal assets for all
A Foundation is not normally used for
trading or commercial activities in its own right, though it is common for a
foundation to have an underlying company to carry out non-habitual trading or
Our group is able to act as professional
trustee to international private clients. We will arrange the formation of a
suitable trust and then administer the trust affairs as professional corporate
The original Settlement deeds
are prepared with assistance from our own legal advisors to ensure that best
industry practice is followed in the light of recent legislation at the time of
We can create Malta, Jersey,
Guernsey or other jurisdiction trusts in accordance with client requirements.