Trust
Trusts are often set up with an underlying holding company for holding different trust assets. Trusts offer many benefits for private wealth management and they offer advantages and flexible mechanisms for:
- Succession planning
- Tax efficiency
- Pre-immigration planning
- Pre-IPO restructure
- Legitimate confidentiality of ownership
- Protection against forced heirship laws
- Private investment platform
Private Trust Company
Private trust companies are increasingly used in more sophisticated private wealth contexts, often in connection with trusts holding significant family assets such as family companies. In many cases, private trust companies allow family members to be involved in decision-making or, with advisers, to take an active and direct role in the control and management of the trust’s affairs.
Foundation
A Foundation has separate legal personality and is therefore able to hold assets, contract with third parties and can sue and be sued in its own name and capacity. There are no shareholders. Incorporation of a Foundation requires a charter and regulations.