So what's the downside?

Important questions to ask before establishing a trust.

Thousands of trusts have been settled by clients of private banks in Asia during the past 10 years. There is nothing like market uncertainty, a low interest rate environment, political instability, and even, war, to focus the minds of investors on protecting their assets.

But thousands of new trusts have also brought significant change. Trust-related litigation is growing fast. New decisions continue to flow from international courts. And governments and tax authorities continue to restrict benefits previously enjoyed by trusts. International bodies chasing laundered money, and governments seeking to prevent tax evasion, have become increasingly suspicious of the use of trusts.

So what are the pitfalls for...

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