Unfortunately, they may not provide sufficient flexible powers to enable the trustee to adapt to unforeseen circumstances.

The unforeseen circumstances may be:

A change in the settlor’s business, investment objectives and strategies

A marriage breakdown of the settlor or a beneficiary

Disputes involving beneficiaries a change in the settlor’s or a beneficiary’s financial circumstances

A change in residence or domicile of the settlor or beneficiaries or location of trust assets

A change in tax or other laws applying to the settlor or one or more beneficiaries

A commercial trust was established for certain purposes which have been fulfilled but there is now a desire to apply the trust fund for different purposes.

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Type

Insight

Locations

Bermuda

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