Trusts & Trustees Advance Access originally published online on May 27, 2009
Trusts & Trustees 2009 15(5):345-353; doi:10.1093/tandt/ttp050
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© The Author (2009). Published by Oxford University Press. All rights reserved.
Isle of Man: foundations
*John Rimmer, TEP ATT (Advocate) Dickinson Cruickshank, 33 Athol Street Douglas Isle of Man, IM1 1LB British Islands. Tel: + 44 1624 647696; Fax: +44 1624 620992; Email: johnrimmer{at}dc.im; Website: www.dc.iom
While the trust remains the structure of first choice for private wealth planning in common law jurisdictions, foundations have also come to the fore. This is for several reasons, including the greater comfort of foundations for civil law clients, some of the attacks on trusts in recent years and administrative practices permitting founder control. The Isle of Man has a comprehensive regime for the establishment of foundations formed as guarantee companies, adaptable to use for private and charitable use, giving it a broad menu for wealth planning.