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In re the Exeter Settlement 2010 JRC012


The Exeter Settlement is a Jersey law discretionary trust which was established in June 1983, with Jersey trustees. It was one of three trusts in a similar format which were to be established by non-domiciled and non-resident individuals to subscribe for shares in a new insurance broking company. The trusts were drafted in standard form with the particular information relevant to each trust inserted in a number of schedules to the trust instrument. Each trust was to be established initially with a charity as a named default beneficiary at schedule 7 and family members were to be added at a later date in exercise of the Trustee's power of addition under the trust.

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