Growing in parallel with the City of London, they came to specialise in housing the offshore wealth of Europe's rich (especially Britain's non-domiciles) attracting fund structures, trusts, banking assets and insurance vehicles through their favourable tax regimes.
Without such a carefully structured trust, the inherited funds could interfere with the individual's eligibility for government benefits like Medicaid.
This may be similarly true for stem cell science but in the absence of any formal structure trust still plays an important role in allowing collaborators to start working together, regardless of how this later pans out.
"To be a part of a tectonic shift in our industry's power structure — trust me, the women in this room tonight are not here for the food.
In the participant-governed network structure, trust is important and network governance is dominated by the relational governance mechanism.
Mr. Blattmachr, who built his own wealth interpreting tax law for his clients at the law firm Milbank Tweed, where he was a partner for 35 years, has structured trusts with his wife, Betsy, that are so complex they boggle the mind.
Also, if inheritances are involved, titling assets and structuring trusts appropriately creates clarity for the next generation -- and can potentially avoid contesting of the will.
This was recognised by lawyers, who had been advising their clients to structure trusts in such a way as to allow their trustees to invest in wider areas than the Statutory Lists.
Trust is, as the author nicely puts it, "part of the deep grammar of any society", so to revivify it he recommends studying historical structures of trust, as he argues the pioneers of microcredit in India did.
Much of the $1.4bn siphoned out of the DRC between 2010 and 2012 operated through corporate structures involving trusts.
