Trusts are a versatile vehicle through which to structure a range of commercial transactions including the rescheduling of a company's debt, the ownership of assets and holding of sale proceeds in escrow on the sale of a business. Butterfield's innovative and flexible approach enables us to play an important role in the design and implementation of such complex trusts.
A life insurance trust is used to give your estate liquidity. If your estate comprises either illiquid assets such as private company shares or property occupied by your family, the proceeds of a life policy may prove essential to pay taxes or provide benefits to your family. The proceeds from a life policy held by the insurance trust are paid directly to the trustees who will administer them for your beneficiaries. In some circumstances this can reduce or eliminate estate taxes.
For more information about trust services, please contact Butterfield Trust (Bermuda) Limited on (441) 298 5546.