Trust Formation & Administration
Freeport Trust Company are a licensed Trust Service Provider and offer a wide range of bespoke trust services to suit the requirements of our various clients.
There are many types of trusts that can be set up, however they all follow similar principles in that a trust is a legally binding agreement which transfers the ownership of property from a ‘person’ (the settlor) to another ‘person’ (the trustee) whom thereafter assume the responsibility of managing the trust’s assets under the direction of the trust deed for the benefit of the beneficiaries.
There is an option to appoint a protector whom usually assumes the responsibility to safeguard the trust’s assets, usually by the ability to veto decisions made by the trustees.
There are various benefits that can be enjoyed by the operation of a trust, which include: