Trust beneficiaries are missing out on more entrepreneurial investment opportunities, according to Marc Farror, Private Client and Family Office Director of Vistra Jersey Limited.
"Being entrepreneurial in the current environment is relatively easy for an individual if they control assets directly. If assets are held in trust and are not controlled directly by the beneficiaries, then the beneficiaries need to request that the trustee consider making such investments. This requires the trustee to consider risks and be more adventurous than they ordinarily might. As a result, trustees may refuse these types of requests," explains Farror. The answer, according to Farror, is to establish a process whereby the trustee can take a degree of risk within the trust, without...
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