Amendment n. 7 (Jersey) Trust Law 1984
| Insights
An interesting study on trust in light of the amendment n. 7 entered into force last June 8, 2018, aimed at making the trust tool more ductile and adaptable to the needs of the settlors. In particular we highlight the amendment of article 29 on the provision of information to beneficiaries which gives the settlor the power to restrict access to the aforementioned information by the insertion of specific provisions in this regard in the trust deed, however, bearing in mind that the court always has the right to issue a disclosure order contrary to the terms of the trust deed.
We invite you also to pay attention to the extension of the provisions on indemnities for outgoing trustees, which resulted in the introduction of article 43A, on the basis of which the outgoing trustees are entitled to receive a compensation for liabilities even if in the trust deed under which the mandate was taken, this compensation was not foreseen but was the subject of an agreement with the incoming trustees.
The Professionals of Andersen & Legal are at your disposal to provide you with any clarification and support in the drafting of trust deeds, also in the light of recent legislative innovations.