Overhaul of Jersey trusts could hurt settlors

As the Jersey government plans to overhaul its trust laws, the impact on tax planning will be significant. Gilead Cooper QC is far from convinced about the benefits for settlors

It is almost impossible to open a newspaper without reading about someone ‘calling for a change’ in some area or other. Campaigners never seem to call for things to be left as they are. But I would suggest that, more often than not, doing nothing is a better option than any of the available alternatives.

In April 2016 the chief minister’s department of the states of Jersey published a consultation paper inviting comments on various proposed amendments to the Trusts (Jersey) Law 1984. These included (1) changes to the rights of a beneficiary to call for information from his trustees; (2) the possibility of introducing provisions to enable trust disputes to be dealt with by arbitration; and (3) extending the jurisdiction of the court to vary trusts.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe