TRS - Registerable Trust?

Trusts Discussion
1

We have a trust that was required to be set up by the Swiss probate authorities.

The deceased, a UK resident, died leaving a will covering her UK assets, but it did not cover her Swiss property.

Her UK will left everything to her husband.

Swiss law determined that a proportion of her intestate Swiss property (£50k) was due to her minor child.

The Swiss authorities would not release this direct to the surviving spouse under a Statutory Trust arising under intestacy, but required a buffer between him and the child.

The Swiss authorities accepted that a discretionary trust set up by then partners of the firm with the spouse as an excluded person would be a suitable buffer.

Is this a registerable trust, and if so, is it an express trust?

JGH

2

It is an express trust and so registrable. Presumably it may also be taxable. I assume a foreign law statutory trust on intestacy would be excluded as a trust imposed by legislation though in a civil law jurisdiction a “trust” may not exist at all. The discretionary trust could conceivably have originated as an excluded pilot trust, depending on date of creation and initial trust fund if any, but it would even so seem to become registrable once the major funds are acquired.

Jack Harper

3

Thank you Jack.

Jeremy