Jersey trust definition
Examples of Jersey trust in a sentence
FREIT’s Declaration of Trust and New Jersey law permit, and the Maryland General Corporation Law (“MGCL”) permits, the merger of a New Jersey trust with and into a Maryland corporation.
Absence of local taxation - as mentioned above, a Jersey trust with no Jersey resident beneficiaries will suffer no Jersey taxation whatever.
There are particular reasons for choosing a Jersey trust: Confidentiality - there is no register of Jersey trusts, or any requirement whatever that the existence of a Jersey trust be made known to any person other than those involved in its establishment.
A trust can avoid this and, in the case of a Jersey trust, the Jersey courts will not entertain a claim to set aside any trust which is based upon forced heirship rights of a foreign jurisdiction.