A number of recently introduced refinements to Jersey’s trusts legislation will add clarity and introduce a number of updates to reinforce Jersey’s position as a leading centre for global trust and fiduciary business, according to Jersey Finance.
The Trusts (Jersey) Amendment Law 2026 came into force on 20 March, with the aim of modernising and clarifying the law. It is only the eighth time the Law has been amended in its 40+ year history.
The technical changes brought in through the amendments are significant in providing clarity for trustees and beneficiaries. In particular they:
- clarify the limits on beneficiaries’ ability to terminate a trust under Article 43, with the Law being revised to make explicit that the existence of a power to add beneficiaries prevents the beneficiaries from unilaterally terminating the trust
- simplify the ranking of claims between a current or former trustee and secured lenders, addressing previous uncertainty regarding the relationship between trustee liens and security interests
- set out expressly the current position that a sole trustee is prevented from resigning if it would leave the trust without any trustees
Commenting on the changes, Joe Moynihan (pictured), CEO, Jersey Finance, said: “These changes to Jersey’s well-established trust legislation provide some welcome clarification for trustees, beneficiaries and lenders, reflecting the changing international landscape and reinforcing Jersey’s reputation as a leading centre for high-quality cross-border private client work.
“Jersey has developed a world-leading trust framework over the past four decades and these latest changes serve to highlight the jurisdiction’s focus on remaining competitive and providing clarity in a shifting environment.”
