A brief about Swiss Trustee




 When it comes to selecting a trustee, trust is crucial. But, as the old adage goes, trust is terrific, but control is better.


Consider it a procurement case if you're thinking of forming a trust or changing an existing trustee. Because you're entrusting a large percentage of your family's wealth to a third party, it's undoubtedly a very personal decision for you.


But it's business for the trustee, and it should be. Regardless of the nature of your personal relationship, you are still hiring a trustee. As a result, take a professional approach and conduct thorough due diligence on the trustee, possibly with the help of independent advisors.


It should include information about the ownership structure, financial stability and reputation, and regulatory and compliance history, among other things. Potential conflicts of interest, operational standards, employee experience and volatility, and pricing are all factors to consider. The goal is to build a long-term relationship; therefore, the effort is worthwhile.


You should have all trust and service provision papers examined by an experienced independent advisor before engaging a specific trustee and make sure you create solid trust governance, including proper reporting criteria.


Naturally, a protector can play an essential role in supervision and assessing compliance capabilities at the level of the trustee's firm.

For more information, keep reading the below-mentioned blog about the regulatory framework of Swiss trustees.


Read the blog: centrolaw.ch/en/insights/detail/centro-law-guest-series-swiss-trustees-a-regulatory-perspective

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