What is the legal position?
FirstRand Trustees Limited is regulated by the Guernsey Financial Services Commission and is subject to Guernsey Trust Law and Courts. A Trust can protect the Settlor’s assets from “third party” creditors as the assets are owned by the Trustee and not the Settlor or Beneficiaries. This may be challenged if the Trust was created by the Settlor with the intention of avoiding known creditors. Only Beneficiaries can benefit from the assets of the Trust.
