Sherrards’ private wealth team recently worked with a high net-worth individual on a declaration of trust made by a company based in the British Virgin Islands, with beneficiaries in Kenya and properties in the UK. In this case, the team were asked to add a beneficiary to the trust and then terminate it. It was a complex case, where the team had to consider the original documentation, memorandum and articles of the assorted companies established in the British Virgin Islands as a matter of urgency.
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