Types of Offshore Trusts

It is essential that you consult with us as to the most suitable type of trust and to select the terms of the trust deed. There are numerous categories of trust, the most common types being: a Fixed Interest Trust (also known as an Interest in Possession Trust), a Discretionary Trust (in conjunction with a letter of wishes), Protective Trusts, Accumulation & Maintenance Trusts and Asset Protection Trusts.

The Letter of Wishes
A letter of wishes is a memorandum setting out the settlor's wishes concerning the manner in which the trust should be administered and/or how trust property should be distributed. It may be handed to the trustees of a discretionary trust once the trust is established. It can be replaced at any time to meet changing circumstances. It may also indicate the person or persons whose wishes should be considered after the death of the settlor. Although a letter of wishes is not legally binding, conscientious trustees would certainly give due consideration to the settlor's wishes.

Aston Trustees Limited is qualified to undertake the trusteeship of private trusts established under the laws of the Isle of Man (Please ask for further details on this jurisdiction) and is able to provide trusteeship services in other jurisdictions.