Bermuda’s House of Assembly recently passed amendments to Bermuda’s Trusts Act 1989. The provision sees the strengthening of the firewall preventing orders from foreign courts to affect Bermuda assets, further clarifying the jurisdiction of the Supreme Court on Bermuda trusts and on foreign trusts with ties in Bermuda.
These are the major changes introduced by the 2020 Bermuda’s Trust Act:
“These provisions grant more clearness in relation to the use of Bermuda Law as a governing Law for trust structures, allowing clients and professionals to better assess risks and benefits of such a choice” says Filippo Turato, trust expert at Capital Trustees.
SOURCE: Step News