CASE UPDATE
Catch up on the latest decisions. Mark Bridges presents recently decided trust cases from around the world.

Mark Bridges - Farrer & Co
 

DOES THE CARIBBEAN HAVE A KEY ROLE TO PLAY IN THE FINANCIAL SERVICES OF THE FUTURE?
Facing increasing competition from other jurisdictions and regions, increased regulation and ever higher customer expectations, how does the Caribbean respond to the challenge of steering high calibre financial services into the region?”

Peter Larder - AMS Group
 

LONG ARM OF THE ONSHORE COURTS
The far reaching effects of orders granted by onshore courts and their impact on offshore jurisdictions. To what extent can they effect a shift in future business to a particular jurisdiction and settlors perceptions of who is really in control of the trust?

Randall Krebs - Appleby
 

12:20 - 1:15
 
1:15 - 1:45

 

THE LEVIN REPORT: FACT, FICTION OR SIMPLY POLITICS?
Elise Bean, the author of the Levin Report, will share her candid insights on this critically important report followed by a panel of practitioners outlining their perspectives from the USA, Latin America and the international financial centres. The panelists will examine the report, its motives and its impact on IFCs and effect on international capital flows.

• Elise Bean, Staff Director and Bob Roach, Chief Investigator for Senator Carl Levin on the US Senate of the Permanent Subcommittee on investigations – by VIDEO
• David B. Chenkin - Zeichner Ellman & Krause
• Miguel Jauregui Rojas - Jauregui, Navarrete y Nader
• Richard Hay - Stikeman Elliott
• Moderator: Conrad Griffiths QC- Misick & Stanbrook

THE MODERN FAMILY: TRADITIONAL AND CONTEMPORARY PERSPECTIVES
The definition of marriage is constantly evolving. With the increasing recognition of same-sex marriage, civil unions, and other close personal relationships, the notion of family has become relatively elastic. The presenter will consider whether trust law has kept up with these developments and will provide guidance on drafting techniques to deal with evolving notions of membership in the modern family.

Michael McAuley - Appleby
 

RULE AGAINST PERPETUITIES
Once a sacred rule of such significance that any incursion could make trusts and powers void 'ab initio', this grand old lady of the trust world seems to be on her last legs. This session will cover the origins and development of the rule against perpetuities and associated rules and whether it has any future in an age in which the predominant preference of the super rich appears increasingly to be that their structures should last forever.

Colin Shaw - Colin Shaw & Co
 

PROTECTORS: ANIMAL, VEGETABLE OR  MINERAL?
Although still rare in onshore trusts, protectors are commonplace in the offshore arena. In this session, Anton Duckworth will look at a number of issues which arise from the office. These include the extent to which a protector has a fiduciary role, the consequences which follow if they do, and the relationship between protectors and trustees. He will also look at consent, notice and direction requirements in so far as they relate to both dispositive and administrative powers and give some helpful guidance to trust draftsmen.

Antony Duckworth - Charles Adams, Ritchie & Duckworth
 

QUISTCLOSE TRUSTS & OTHER ODDITIES
Trusts often arise automatically in commercial transactions frequently without the parties being aware of the potential consequences. They can arise automatically in commercial transactions frequently without the parties being aware of the potential consequences. Shan Warnock-Smith QC will examine how and why some of these trusts arise and the potential consequences.

Shân Warnock-Smith QC - 5 Stone Buildings 
 

IN THE RED: TRUSTS,  LIABILITIES AND INSOLVENCY
James Corbett QC will take a look at what issues arise when a trustee incurs a liability and what creditors can do to protect themselves.  Other issues that will be covered in this session include: risky assets, insolvent trustees, insolvent companies, commercial trusts, sub-trusts, the ring fencing of assets and alternative structures.

James Corbett QC - Serle Court

2:35 - 3:30





























 

#1 - THAT’S ONE FINE MESS YOU’VE GOT ME INTO STANLEY! THE USE AND ABUSE OF PRECEDENTS
Trust precedents are a feature of today's trust industry but they can create traps for the uninitiated.  In this session, Heather L. Thompson will look at how precedents should be used, how they should properly be adapted and when legal advice should be taken before making amendments to "boiler plate" documents.

Heather L. Thompson - Higgs & Johnson
 

#2 - PRIVATE TRUST COMPANIES: THE SETTLORS’ DREAM
Private trust companies have become increasingly popular over the last twenty years. Simon Beck will consider why this is the case, the drawbacks of private trust companies, various associated structuring issues and opportunities which arise for professional service providers. He will then go on to consider some of the regulatory issues which surface in various offshore jurisdictions and the choices that are available for settlors who go in for “jurisdiction shopping”.

Simon Beck - Baker & McKenzie LLP
 

#3 - MULTI-JURISDICTIONAL TRUSTS AND RELATED ENTITIES
In the era of globalized tax and estate planning, it is becoming more common for trusts and related entities to have co-trustees or joint service providers in different jurisdictions. Simon Jennings will address the legal and practical issues that arise from these multi-jurisdictional trusts.

Simon Jennings - Rawlinson & Hunter
 

DEALING WITH DIFFICULT CLIENTS
Strategies for  working with difficult clients; helping to bridge the understanding gap; handling the client who likes to dabble in the investment strategy and coping with particular family office issues to make your working life easier.
 
Stella Mitchell-Voisin - Close Trustees (Switzerland) SA
 

Sponsored by FirstCaribbean International Bank

Wine Tasting by Jacques Scott Group
 

UNTAPPED NEW MARKETS
Globalisation is creating new wealth and new markets. Responding to these changes will be an ongoing challenge for offshore jurisdictions and the financial services sector which often is the mainstay of their economies. Among these challenges is the growing number of onshore jurisdictions competing for the same business and the increased sophistication of legislation in IFCs. Do globalisation and increased competition represent new market opportunities for offshore jurisdictions? How should institutions and professionals respond to this new environment?

Peter Cohen - Trident Trust Group
 

PANEL: INTER-JURISDICTIONAL TAX AND REPORTING ISSUES ENCOUNTERED BY TRUSTEES
An unfortunate reality is that a trustee often may not know in advance whether a beneficiary intends to change tax residence to an onshore country. It is a challenge to cope with the tax and reporting requirements for which the trustee may be responsible during the lifetime and/or upon the death of the settlor where the family residences, domiciles and location of assets and investment vehicles through which they are held are spread throughout many jurisdictions. The purpose of this presentation is to highlight certain common and unusual situations which the trustee may face and how such issues can be best addressed with the trustee working together with practitioners from the United States, the United Kingdom and Canada.

• Steven L. Cantor - Cantor & Webb P.A.

• Paul LeBreux - Bayshore Wealth Management

• John Riches - Withers LLP 

• Moderator: Richard Pease - Chair, STEP Worldwide

THE GEORGE TOWN LECTURE: BOOMERS TURNING 60
Dubbed the largest cohort of the 20th century, baby boomers have dictated trends and fads, influenced healthcare and education systems and will be the recipients of the largest transfer of wealth that the modern world has ever seen as their ageing parents pass on. When boomers retire over the next several years, they will leave behind a depleted workforce and serious competition for the remaining workers in the system in all walks of life. How will this cohort’s ageing affect the offshore world and the financial services sector? What new trends will boomers spawn in the years to come? Join Dr. Jeffrey Rosenswieg for an in-depth look at the boomers turning 60!

Jeffrey Rosensweig - Goizueta Business School, Emory University