Estudio Legal Bernal specialises in structuring Trusts for commercial and financial enterprises. It one of the most secure ways to conduct business. Commonly, Trusts have a tri-partite structure:

 

• A settlor that places assets in a Trust to be used for a designated purpose and for the Trust to be administered by a trustee.

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• A trustee that is responsible for administering the Trust in accordance with the stipulated purpose for the benefit of the beneficiaries. The trustee can be a professional institution that specialises in the administration of Trusts.

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• A beneficiary for whose ultimate benefit the Trust is administered.

 

  A Trust is an adaptable instrument and can accommodate a variety of structures and interrelationships. Some of the most common ones include:

 

Real Estate: a project where one party provides the land, another the financing and a third develops the land and obtains the permits. The entire project can be placed in a Trust in order to protect the respective rights and interests. Each of the parties will have rights in the Trust, which will operate to protect them and apportion the benefits.

 

Corporate: any corporate business can be placed in a Trust which will become a separate legal entity. It will have its own tax identification number and be liable for any tax, levies or duties on its own behalf.

 

Guarantees and Collateral: any assets that are used as a guarantee or collateral in a commercial arrangement can be placed in a Trust that will administer the guarantee or collateral in accordance with the stipulated terms. The rights related to a guarantee or collateral that is placed in a Trust can be enforced through a specialist extrajudicial proceeding.

 

Estate & Inheritance: All assets that will form part of a person’s estate can be placed in a Trust. Upon passing, the Trust is administered in accordance with the stipulated terms of the person’s last will and for the benefit of the beneficiaries.

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Company shares: the shares or stock of companies can be placed in a Trust. It is a pragmatic solution in complex corporate structures as a Trust can facilitate harmonised decision-making between the shareholders as well as apportion the respective rights and benefits.