The "flee clause" and trusts - How to adjust when trouble strikes
The world of trusts continues to change. One technical but important point to consider is when an event leads to a trustee resigning and the trust fund appoints a different trustee in another jurisdiction. The “flee clause” is designed to protect assets during emergencies or crises - wars are obvious examples, as are cases where governments try to confiscate assets and persecute individuals.
Henry Mander discusses the phenomenon of the “flee clause”, how it works and why it matters, originally published inWealth Briefing Asia.