Trusts can get flexible

Tuesday 26th February 2008, 2:30PM GMT.

Gavin St Pier

GUERNSEY’S new Trusts Law will come into effect from Monday 17 March.

It was passed by the States last July, given royal assent by the Privy Council on Tuesday 12 February and was registered with Guernsey’s Royal Court on Monday 18 February.

Some of the most significant changes include the introduction of non-charitable Purpose Trusts and the removal of limits on the length of a trust’s duration, allowing perpetual trusts. Barclays Wealth Guernsey director Gavin St Pier said: ‘Fiduciary practitioners are looking forward to the law’s enactment.’