Hannah Hughes was pleased to be invited to Scotiatrust’s Spring Talks in the Bahamas, where a fascinating set of discussions took place on how international families are approaching structuring and governance in a changing world.
They included:
▶︎ Advanced Planning: Structures and Choice of Jurisdictions
▶︎ Using Governance and Family Constitutions in conjunction with Trust and Fiduciary Structures
These are areas we are working on regularly with clients, trustees and other professional advisors, particularly in a cross-border context, and it’s a good opportunity to exchange views with trustees and advisers across jurisdictions.
A few themes came up repeatedly across both panels:
1. Jurisdiction choice is becoming more nuanced. It’s not just about tax - families are weighing political stability, regulatory approach and reputational considerations much more closely.
2. Governance is moving from “nice to have” to essential. Family constitutions and governance frameworks are increasingly being used alongside trust structures to manage complexity and expectations across generations.
3. Flexibility is key in long-term structures.
With continued changes to the UK taxation of offshore trusts, structures that can adapt over time are becoming ever more important.
These are conversations we have with our clients every day, so it was great to be part of such a thoughtful discussion with an esteemed group of Bahamian and international advisors.