Professional Trustees in the Isle of Man

 

A regular problem for clients is that of choosing whom to appoint as trustee, especially if you have or are wanting to create an Isle of Man Trust.

Fortress can provide a professional Trustee service for you in the Isle of Man of which is regulated by the Financial Services Authority.

As a trust provider in the Isle of Man, our focus is to provide a professional trustee service that is trust worthy and reasonably priced. By law, we have to act in the best wishes of the beneficiaries of the trust and so there is never any risk of assets being directed elsewhere.

As a regulated entity managing trust assets on the Isle of Man, we have parameters in place to protect your wealth and always have our client’s best interests in mind.

Distinct advantages to having a Fortress as a professional Isle of Man trustee include;

  1. We are regulated by the Financial Services Authority on the Isle of Man.
  2. Objective trustee decisions by keeping to the aims of the trust, can be made without personal complications or conflicts, so the clients can be confident their plans will be realised.
  3. All trust paperwork is kept safe and is professionally dealt with respecting the client’s wishes.
  4. The client has confidence the trust provisions and trust laws are not being breached.
  5. Using a trust avoids probate fees on death.
  6. We do not provide financial advice, as this may conflict with our Trustee duties and enables us to work with your existing professionals such as your Financial Adviser.

Another significant advantage of asking Fortress to provide this professional service is that as a Corporate Trustee, there is never only one person acting as trustee. Therefore if in the event of a death, the trustee will remain the same, preventing any changes necessary on the trust deed to appoint a new trustee. This keeps fees down and provides continuity.

For more information about the Trustee role, please download (IOM trustee duties and responsibilities document) our helpful guide on the duties and responsibilities of an Isle of Man Trustee.