Concept Fiduciaries are specialists in designing, implementing and administering efficient wealth planning structures. Concept Fiduciaries are able to design bespoke solutions for its clients that address their own particular circumstances and issues. In some cases and in certain jurisdictions, the use of a Foundation would be preferred to the establishment of a Trust.
Trusts have their roots in the common law, while foundations have their origins in civil law.
A Guernsey foundation has the following component parts:
• A constitution of a Charter and a set of Rules
• A Council to administer the foundation
• A Founder to provide the initial endowment
• A Guardian (if there are disenfranchised beneficiaries or no beneficiaries)
Both Foundation and Trust structures are suitable for succession planning, asset holding and privacy issues that clients may need to address.
Why Concept’s Foundation’s
• Ideal solution for private wealth management, succession planning and charitable giving
• Those with a civil law background will be familiar with the product
• Foundations are considered more flexible than a company
• Foundations have legal personality and may contract or sue, in their own name
• Unlike a trust, there is no segregation of legal and beneficial title
• Allows concerned founders to limit the flow of information to certain classes of beneficiaries
• Foundations are private structures
• Foundations do require registration however, the information that is publicly available is restricted
• Concept are reputable and experienced in the provision of long term wealth planning structures
• The Guernsey Foundations Law was very recently introduced and draws upon the strengths of many other jurisdictions legislation