| The firm’s Trusts, Wills and Estates team frequently advises foreign lawyers, professional trustees and private clients on all matters relating to BVI Trust law, including matters requiring consideration of private international law or involving uncertainty or disputes. In particular, the team advises on all aspects of BVI trusts including classic discretionary trusts and life interest trusts, as well as other trust instruments such as orphan vehicle trusts, charitable trusts, purpose trusts, unit trust structures and employee share ownership structures. The enactment of the Trustee (Amendment) Act 2003 and the Virgin Islands Special Trusts Act, 2003 (VISTA) has provided greater flexibility for BVI trusts and has widened their uses. The Trustee (Amendment) Act 2003 includes new statutory provisions dealing with variation of trusts and charities and addresses trustee and third party dealings. The VISTA legislation enables special trusts to be set up catering to particular circumstances such as family businesses, where in a shareholder of a company may establish a trust which disengages the trustee from company management responsibilities. The team is also able to prepare wills disposing of British Virgin Islands assets (such as shares in International Business Companies) and our lawyers advise on all aspects of testamentary and intestate succession in the Territory. The firm is able to assist with applications for BVI grants of probate and letters of administration, and to advise generally on the law relating to estates. For further information please contact sheila.george@harneys.com or zac.lucas@harneys.com.
Click here to learn more about Share Trust
|
|
|
