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Trust Essentials: December 2024

Newsletter

06 December 2024

Global

2 min read

As we approach the end of the year, it's time to reflect on the significant developments and achievements that have shaped 2024. In this edition, we delve into the evolving landscape of trust law across Ogier's key offshore jurisdictions.

Below, you'll find insights on preparing the next generation for the great wealth transfer, updates on the latest changes in Cayman Islands perpetuity legislation, and a discussion on whether trust disputes should be arbitrated in the BVI. We also feature a focus on company migrations in Cayman, as well as a key promotion within our Trust Advisory team.

Enjoy this edition of Trust Essentials. If you'd like to discuss any of the issues covered, please reach out to your Ogier contact or any member of our team.

Meet Ogier's Trust Advisory Group.

Shaping the future: 2024 trust law developments across Ogier's offshore jurisdictions

Our expert partners across BVI, Cayman, Guernsey and Jersey have gathered and analysed recent legislative and case law developments that have reshaped the offshore trust landscape. Read our lead article ...

STEP Private Client Awards success for Ogier's Trusts Advisory Group

Ogier's Trust Advisory Group's technical excellence and dedication to client service were recognised at this year's STEP Private Client Awards as they were named Contentious Trusts and Estates Team of the Year (large firm). Find out more ...

Conversation with the next gen: preparing for the great wealth transfer

Over the next decade, considerable wealth will be passed from one generation to the next, in what's being called the great wealth transfer. In this article, Catherine Moore answers key questions on the concerns, preparations, and educational strategies that are essential for a smooth and successful transfer of wealth. Read more ...

Cayman Islands abolishes perpetuity rule in legislation

The Cayman Islands has enacted new legislation to remove the rule against perpetuities for ordinary trusts, allowing these to last indefinitely. Previously, Cayman Islands trusts were constrained by a 150-year perpetuity period, mandating distribution of trust assets within this time frame. Find out more ...

Can and should trust disputes be arbitrated in the BVI?

Arbitration is widely used as an alternative to court proceedings, offering parties confidentiality, flexibility and ease of enforcement. However, arbitration remains largely untested in resolving trust disputes. But what could be the benefits of arbitrating trusts disputes? And what are some of the legal complexities? Read more ...

Reversing or setting aside actions taken by statutory provisions – a focus on company migrations

What is the scope of the Grand Court of the Cayman Islands' jurisdiction to reverse and / or set aside actions taken by statutory provisions? This has been a core question causing considerable discussion. Read more ...

Ogier recognised as the largest top-tier offshore law firm in eprivateclient 2024 listing

Eprivateclient has ranked Ogier in tier one for its multi-jurisdictional private client offering, acknowledging the firm as having the largest private client team of any offshore law firm. Find out more ...

"NextGen Leader" Chris Hards joins the Ogier partnership in Guernsey

Guernsey trusts and foundations expert Chris Hards has been promoted to partner at Ogier. Chris, who was recently recognised as a rising star of the private client profession in the 2024 eprivateclient NextGen Leaders list, progressed through Ogier's partner development programme. Read more ...

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