Trusts
Fides Trustees sees their role as trustees as having three fundamental functions:
1. Acting as a “real trustee” for our clients by providing guidance and at times making difficult decisions.
2. Delivering highly efficient administration and implementation of the decisions of the trustee and/or their advisers.
3. Providing accurate and up to date accounts and reporting for the Trusts.
Fides is able to act as a sole trustee or as co-trustee for a variety of Trusts as the situation demands.
With the correct advice and in certain circumstances Trusts offer many benefits for wealthy families. Either alone or in tandem with underlying companies, they can be flexible, reliable and effective structures to hold and protect assets and control how those assets are passed on to future generations, often in a tax efficient manner.
Fides Trustees has particular expertise in holding in trust not only bankable assets and securities, but also real estate (residential and commercial), intellectual property, trading companies and family businesses, fine art, bloodstock and chattels such as jewellery, aircraft and ships. This can be of particular interest to family offices which may require trustee services to handle complex assets of this nature.
Trusts can be used for many purposes, and often provide a range of financial benefits. These include:
Tax Planning
Depending upon the tax status of the settlor and beneficiaries as well as the location and type of the assets a Trust can mitigate the impact of local and foreign taxes.
Protection of Assets
A Trust can protect and shelter assets from a range of potential threats including political and/or economic instability, irresponsible heirs and domestic upheaval.
Enhanced Administration
Consolidating assets through a Trust can enable more efficient administration and reporting, which facilitates better analysis of the Trust’s assets and investments and can save both time and money.
Family Companies
Holding a family business company through a Trust can protect the company from break up after the death of the settlor and can facilitate the appointment of external management if required.
Estate Planning
A Trust enables family members, future generations and charities to receive benefits from the Trust without ownership and control of all the assets being given to the beneficiaries.
Privacy and Anonymity
Trusts can provide greater privacy and enhanced confidentiality concerning the ownership of assets, and how they are managed, thus avoiding unnecessary publicity and attention.
Avoid Probate
A Trust enables assets to be distributed to selected beneficiaries without the cost and publicity of formal probate proceedings.
