How does a trust work?
When establishing a trust, you become the ‘settlor’ and transfer the legal ownership of assets (cash, investments or property) to another person or organisation, known as the ‘trustee’. Those assets are looked after by the trustee until they’re passed on to the ‘beneficiaries’ – usually the settlor and their family, friends and nominated charities. The way this is done is set out in a legal document called a ‘trust deed’ – by law, the trustee must act in the best interests of the beneficiaries.
What are the benefits of trusts?
While the advantages will depend on the country in which the settlor and beneficiaries are resident, trusts offer some general benefits.
Tax and cost efficiency benefits
Why choose Blevins Franks?
Blevins Franks Trustees Limited is the largest trust company in Malta and has been in operation for over 16 years. We’re authorised and regulated by the Malta Financial Services Authority (MFSA) under both the Trusts and Trustees Act and the Retirement Pensions Act.
Through 13 qualified and experienced officers, we offer trust services to UK residents and expatriates in Spain , Portugal, Malta and Cyprus. We currently manage around 1,500 trusts and companies as well as over 200 pension accounts.
There are some good reasons for choosing a trust based in Malta:
What types of trust do we provide?
At Blevins Franks Trustees Limited, we have the expertise to administer any type of trust. The most commonly used trust is the ‘discretionary trust’ and a version of this known as a ‘pilot trust’.
A discretionary trust enables us, as the trustee, to administer assets in the best interests of the beneficiaries and in the most efficient way, in line with your guidance. If you want to access your assets during your lifetime but would like to take advantage of the estate planning benefits of a trust, a pilot trust may be a suitable option.
For many expatriates, pilot trusts are a good wealth management solution that enables their estate planning to roll across generations.
Is a trust right for you?
Whether a trust structure is suitable for you will ultimately depend on your personal circumstances, aims and objectives. Blevins Franks can outline all your options – not just trusts – and make tailor-made recommendations to help you find the best solution for your savings, pensions, investments and estate planning.