Two consistent priorities for the families Minerva work with are succession planning, and wealth preservation that balances the needs of current and future generations.

In today’s reality, families recognise many factors outside their control can have negative impacts. Social and cultural change, divorce, litigation, change of country of residence, tax and ill-health can all have unintended and potentially adverse consequences for their wealth and estate planning.

Increasingly, families are seeking ways of mitigating such risks and typically they look to professional trustees to provide flexible trust arrangements that protect the family’s assets and safeguard the interests of those with an existing or future beneficial interest in those assets.

Appointing trustees is a significant event in a family’s wealth management strategy. Careful consideration is necessary in their selection and the jurisdiction in which they are based. Factors, such as regulation, tax neutrality, governing trust law, political stability, privacy, ease of access, supporting financial and legal services infrastructure will influence this decision. However having experienced trustees who truly understand the family’s culture and values is critical to the long-term success of the relationship.

Minerva has 40 years experience of providing trust services in which time we’ve seen trusts used for a variety of purposes and a range of different types of trust have emerged, all designed to satisfy specific situations.

Discretionary trusts remain the most flexible and widely-used form favoured by many families. Trusts can provide benefits in areas important to families such as:

  • Privacy
  • Asset protection
  • Tax planning
  • Estate planning
  • Succession between generations

When associated with a family constitution, the trust can serve as a reminder of family values and help set behavioural standards.

Minerva provides trust services through its offices in Jersey, Mauritius, Geneva, Kenya and London and more information concerning what is a very broad topic can be gained from related resources referred to below.

Contacts

“You have been amazing and I am glad you are looking after dad's file.”

Private client, Nairobi