In this episode of Trust Talk, hosts Mark Bennett and Adam Hofri talk trusts with Richard Grasby, an offshore regulatory trusts and private wealth lawyer based in Hong Kong who specializes in the laws of jurisdictions like the Cayman Islands and the British Virgin Islands.

Richard explains that high-net-worth clients primarily utilize modern offshore trusts for confidentiality, probate avoidance, succession planning, and protection against political instability or regime changes, rather than simple tax planning.

A recurring challenge in the industry is the delicate balance of control; settlors often want to retain strict power over their assets, but treating a trust like a personal ATM makes it highly vulnerable during divorce proceedings and invites strict tax scrutiny.

Furthermore, global transparency initiatives like the Comm ...