Bove, Jr, Alexander A
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(Article) Asset protection: the missing chapter from the family office manual
01.12.2016
Donald Hess, a wealthy Swiss businessman, was not happy when his wife of 20+ years sued him for divorce. He was even less pleased when she went after his $200 million estate. Fortunately, so he thought, he had the foresight to have her sign a marital agreement providing that, in the event of a break-up, she would receive only a few million dollars. But she was not happy with that. Hess was concerned in spite of the marital agreement that the courts often find a way to favour the ?poorer' spouse and therefore, shortly after the divorce was filed, he established an offshore trust to which he contributed the bulk of his $200 million estate. -
(Article) Trust protector - the new bodyguard for the family office
01.03.2021
Dr Alexander Bove of Boston, Massachusetts focuses on an intriguing role of the trust protector, "the new bodyguard for the family office". A recognised expert on the role of protectors (and the author of the book Trust Protectors - a practice manual), Alexander reviews the history of protectors, and adds the use of a protector on an as-needed basis, known as a 'springing protector'. Then if a problem does arise, "the trustee, instead of preparing for court action, can simply call upon the trust bodyguard to deal quickly and privately with the issue".