Secondly, within the arrangements of a standard Guernsey trust there are special provisions which allow for the Settlor
to take some control of the wealth or assets; the use of structures involving a PTC or purpose trust gives the Settlor
greater control - they may sit on the board of the PTC and also be in command of the purpose trust which is the ultimate authority over the PTC board.
Charitable remainder trusts: Just as its name implies, a CRT pays an annuity or percentage amount (known as a unitrust, if the trust agreement calls for a percentage payout) to a designated beneficiary for a term of years (not to exceed 20) or the life of the beneficiary, with the remainder passing to a charity selected by the trust's settlor
1950), involved a challenge to a trust by the son of the settlor
With a Discretionary Trust, the settlor
makes a gift into trust which the trustees hold for a wide class of potential beneficiaries.
Hostile trust litigation is reaching "near epidemic" levels, and many settlors
and trustees view arbitration as an excellent means of limiting spiraling litigation costs.
Importantly, Congress could follow Justice Arabian's concluding dicta and devise a compensation scheme that would award an equitable percentage of the profits/lump sum payment to the John Moores and Ted Slavins amongst the trust's settlors
almost certainly have no inkling that these provisions exist--let alone that they seriously erode beneficiaries' rights.
The purpose of the article is not to argue against use of the GST exemption in the post-RAP world but rather to demonstrate that, in all but a few lucky cases, settlors
of dynasty trusts are unlikely to actually establish dynastic wealth with their so-called dynasty trusts.
may designate special fiduciaries to serve specific roles with respect to family wealth.
17) Consequently, the ability of settlors
to designate the same individual as both sole trustee and one of the trust beneficiaries is codified.
the Pule Against Perpetuities is driven by the desire of settlors
The court concluded that the disposition contained in the trust instrument indicated the bequest should go to or for the benefit of the corporation acquiring the assets of the dissolved corporation provided, however, that such disposition be devoted by the acquiring corporation or organization for the purposes intended by the settlors