Overview

A trustee is duty bound to act strictly in accordance with the terms of the trust and within the parameters of the powers that it is granted. A trust instrument may provide a trustee with the power to adapt a trust structure to changing circumstances, thus ensuring that it does not fall out of step with convention, with beneficiaries' circumstances or with changes in the law but sometimes it does not.

The court in the Cayman Islands, as in England, will not readily interfere with the terms of a trust nor will it allow a trustee to depart from its terms, other than in certain clearly delineated circumstances. In this briefing, offshore specialists Mourant Ozannes outline what a trustee can do in such circumstances.

Click 'View Briefing' to read on.