The principle of trusts is steeped in history. For centuries, people would assign their assets and servants to a trusted person - a trustee - before going off to war. The trustee had full control over the assets until the other person returned.
Today, a Trust remains an agreement between an owner of assets and the trustees. The trustees legally own the assets of the trust, but are not allowed to benefit themselves - unless they are also beneficiaries. The Trust is a legal entity that holds your assets before they are eventually released to those you designated to receive them. Its main value is in its ability to keep your estate out of probate after your death.
In recognition of the vital role trusts play in modern financial planning, the Genus Trust Company in Jersey specialises in the provision of trustee services. Jersey enjoys complete autonomy in its internal affairs, including taxation and other legal issues, and has a strong financial infrastructure, befitting its position as a leading centre for international finance.
The Genus Trust Company has been established to forge lasting relationships with clients, providing services and an extensive range of solutions as opposed to selling products. As a trustee the company represents the interests of the beneficiaries and ensures due regard is given to clients' wishes and guidance. In all cases these wishes are discussed in detail and placed on record, discreetly and confidentially.
It should be noted that trusts are not regulated by the Financial Conduct Authority. However, please be aware that Genus Trust Company Limited is regulated by the Jersey Financial Services Commission.