Recent studies and reports have shown that Foundations, Family Offices and Trusts are ideal vehicles in which to drive positive social change.
The reason being is that investments and business operations in addition to having much more flexibility do not have ardent protocols and institutionalised decision making to content with. These types of vehicles normally have clear recipients and goals from the outset without the tiresome constrictive measures if circumstance happen in which these recipients or goals need to adapt and change during the course of time.
Here at Chesterfield we have reported on a number of jurisdictions that have introduced clear laws and regulations concerning Foundations and Trusts in order to adapt to modern challenges and make their vehicles more attractive to the progressive businessman.
The mostly unrestricted nature of these vehicles makes it difficult to sum up the countless advantages that can be availed from setting up these structures, but to name a few:-
- Have more control over how assets are to be managed in the event of death or incapacity
- Possible tax benefits
- Reduced delays and probate costs
- Increased protection from creditors and lawsuits
- These can also be used to not just hold assets, but generate income and therefore continue to provide for an extended period of time even in the event of death
If you would like to know more about how you can benefit from establishing a Trust or Foundation then please do not hesitate to contact us.