News & Knowledge
Classic cars, fine art, antiques and books are possibly the things that come to mind when we mention collectables. Building a collection of valuable items involves time and dedication, as well as a sizeable financial investment. More often than not, there is a significant emotional attachment to one’s collection. The time spent in researching and […]
Historically family businesses have been the backbone of our country’s economy. Research conducted through a nationwide statistical survey specifically commissioned for the purposes of adopting the Family Business Act which was enacted in 2016, showed that in Malta 98% of all businesses are micro, small and medium sized enterprises with the greater majority of these […]
When we hear the word ‘investments’ our thoughts go to stocks and shares which may produce gains or losses. We tend to stop at this basic level of understanding without delving any deeper, so as not to get lost in the increased complexities that surround the subject of financial investment. These complexities together with the […]
Statistically, real estate is the biggest investment in our personal estates. Specifically, our residential home would be our most valued possession, as it goes without saying, that typically, we invest heavily in our residence. On the other hand, immoveable are not solely used as our primary residence but also an investment. Historically, an immoveable property […]
When we talk about Trusts we often think about fancy and complex structures which will exclusively benefit the ultra-rich and which find no place in the more ordinary realities which less wealthy people live in. This cannot be more distant from the truth. In actual fact, trusts help in dealing with very common circumstances in […]
Families, and their estates can be complex for a variety of reasons. Such complexities are not only a direct result of the nature and size of the estate itself but the number of family members as well as the dynamics of the relationship between them, may add to the complexity. In such complex scenarios why […]
A Trust is a legal arrangement whereby assets are transferred from a person called ‘the Settlor’, to another person called ‘the Trustee’ for the purpose of holding such assets ‘Trust assets’ as owner but for the benefit of others called the ‘Beneficiaries. Trusts can be used as an estate or succession planning tool for families, […]
The Interplay between Wills and Alternative Forms of Succession Planning The typical instrument used for the purposes of regulating how one’s estate is to be divided following one’s demise is a will. In fact, article 586 of the Maltese Civil Code (Chapter 16 of the Laws of Malta) states that: “…it shall not be lawful […]
Definition The Trust and Trustees Act, Chapter 331 of the Laws of Malta (the “TTA”), contains the following definition: “A trust exists where a person (called a trustee) holds, as owner, or has vested in him property under an obligation to deal with that property for the benefit of persons (called the beneficiaries), whether or […]