This is an excellent book both for the non-lawyer offshore trust manager, and for the experienced professional
adviser. The introductory chapters set framework and outline the principles of the ‘where and why’ for offshore
trusts. This is ideal for the debutant student or aspirant trust officer, providing substantial background to supplement the study materials for the STEP Diploma in International Trust Administration and Management.

Thereafter, the book assumes more heavyweight characteristics, dealing in detail with matters of immediate and current concern to professional advisers and managing directors of trust companies, such as:

• cross-border tax enforcement
• settlor reserved powers and sham trusts
• asset and creditor protection trusts
• trustee investment accountability
• the disclosures of trust information to benefi ciaries and third parties
• the practicalities of bringing and defending litigation against/by offshore trustees and
• protectors and their powers.

Relevant laws and recent cases in many jurisdictions are analysed in a courageous and effective tour de force to identify current trends in litigation and judgments. The way in which cases from different jurisdictions are counter-balanced and grouped together under the above (and other) subject-headings makes this well-researched and clearly expounded book a welcome and overdue addition to the offshore trust practitioner’s library.

There was one personal disappointment. The excellent chapter dealing with trustee investment responsibilities was just building to its climax, moving towards dealing with underlying investment companies (the classic offshore trust structure) when inspiration seemed to disappear.

Surely this is the topic that the courts may next be required to address in some detail but on which there is, as yet, little to say. Perhaps that best demonstrates the overall approach of this book – it is immensely practical in its approach to leading-edge offshore trust practice, and does not offer unsubstantiated speculation of where the law may next develop.

The only (minor) irritation was in the footnotes. There are numerous occasions where ‘footnote x’ simply said ‘see note y’ for a case reference, sending you back to a footnote that may be five or more pages preceding in the text. The balance of repeat references was not quite right for this reviewer. That, however, is a small criticism of this useful and well-researched book.

Stephen Arthur TEP is a Barrister with 9 Stone Buildings and an editor of The STEP Journal

Download this review - Click Here