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Leaving a global legacy - the settlor's intent beyond borders
The International Family Offices Journal
Vol. 3 - Iss. 2 pp. 9–14
Dec 2018
Joan Crain covers a crucial subject - how a settlor's intent can be implemented in a multijurisdictional setting. She notes ?When family members are spread throughout multiple countries, settlors have even greater challenges in incorporating their wishes and objectives into their estate plans ? Trustees are provided with broad discretion, because with multinational families, it's especially important to be able to take into account and provide for the increasing mobility of family members who may be living in different cultures and/or have various tax residencies. At the same time, settlors struggle to articulate their wishes so that future trustees and beneficiaries understand and embrace their intentions.? Joan gives very practical advice for ensuring that the settlor's intent is followed. She includes a number of the important offshore jurisdictions and the differences in English law.