The concept of trusts, with roots tracing back to ancient Greece and Rome and further refined in the 12th century, continues to serve as a cornerstone for ultra-high-net-worth (UHNW) families seeking to preserve and structure their wealth across generations. This enduring legal framework allows for the separation of asset ownership, benefit, and administration, enabling distinct individuals to control, enjoy, and manage assets on behalf of beneficiaries. Today, in an increasingly complex and interconnected world, the application of trusts has evolved significantly to meet the sophisticated needs of modern UHNW individuals.
The intricacies of contemporary family structures and global asset distribution necessitate advanced wealth management strategies. Clients may reside in one country, hold investments in another, designate beneficiaries in a third, and opt for a trust governed by the laws of a fourth. This multi-jurisdictional reality has led to a surge in the establishment of structures in jurisdictions offering significant tax advantages and appealing regulatory environments. Prominent among these are offshore financial centers such as the British Virgin Islands, Bermuda, the Cayman Islands, the Channel Islands, and the Isle of Man. These locations provide specialized services tailored to non-residents, often coupled with low or zero tax rates and robust legal frameworks. Landlocked financial hubs like Liechtenstein, Luxembourg, and Switzerland also remain popular choices for their established expertise and favorable regulations.
Spear’s research for the 2026 Tax & Trust Indices highlights a nuanced global picture. The Crown Dependencies, including Guernsey and Jersey, continue to be primary jurisdictions for trust establishment. Concurrently, nations such as the UAE, Monaco, Italy, Greece, and Cyprus are increasingly favored as destinations for relocation, attracting individuals seeking lifestyle and economic benefits. Singapore and Hong Kong are also emerging as significant offshore trust options, reflecting their growing prominence in global finance and their commitment to sound regulatory practices.
The Spear’s Tax & Trust Indices 2026
This evolving landscape underscores the growing demand for specialized expertise in trusts, structuring, and offshore advisory services. The Spear’s index of top trusts, structuring, and offshore advisers aims to identify and celebrate the leading firms and legal professionals who navigate these complexities. This year’s index, meticulously compiled through extensive research, peer reviews, and client feedback, shines a light on lawyers adept at managing the legal implications of establishing and administering global wealth structures.
A More Litigious World: Asset Protection and Succession Planning
At the heart of modern wealth structuring lies a dual focus on asset protection and succession planning. As Andrew Bayles of SwissIndependent Trustees, a new entrant to this year’s index, observes, "The world is becoming more litigious." This sentiment is echoed by many legal professionals, who cite an increase in disputes stemming from business partnerships and intra-family conflicts. The prevailing strategy to mitigate these risks often involves the establishment of irrevocable, discretionary foreign trusts.
Switzerland’s adherence to the Hague Convention, for instance, allows Swiss trustees to administer trusts established under the laws of jurisdictions like Jersey or Guernsey. This arrangement provides significant protection, ensuring that only designated beneficiaries can benefit, while simultaneously safeguarding assets from external claims. Jordan Constable of Ogier highlights a persistent challenge: the ongoing task of untangling complex structures established in multiple jurisdictions decades ago. "We’ve been dealing with the consequences of that for years and years," he notes, pointing to the long-term implications of early, often overly intricate, structuring decisions.
The regulatory environment has also become a significant factor. Andrew Miller of Bedell Cristin, with over two decades of experience in the Cayman Islands, explains how regulations such as the Common Reporting Standard (CRS), FATCA, beneficial ownership rules, and economic substance requirements have shifted his practice towards regulatory and quasi-tax advisory services. He observes that today’s clients are not only wealthier and more international but also possess a higher level of expectation. Interestingly, many of Miller’s clients now reside in the Cayman Islands, a stark contrast to the situation when he first arrived.
Crypto Wealth and the Rise of Foundations
The demographics and wealth generation methods of clients are also undergoing a transformation. Jordan Constable notes a significant influx of individuals who have rapidly accumulated wealth, particularly in the cryptocurrency and Web3 sectors. These clients often possess a sophisticated understanding of financial structures and the advisory services they seek. "It’s sophisticated people who have a working knowledge of what we do before they even come to us," Constable remarks.
The tools and structures employed by advisers are also evolving. Nicholas Holland of Maples Group, who transitioned from practicing law in London to the Cayman Islands, reports a notable shift in his practice, with foundation companies becoming increasingly prominent, often surpassing trusts in demand. "I thought, who would use these things? What’s the point of them?" he recalls of his initial skepticism. "And I’ve come to Cayman and we do more of them than trusts. They’re hugely popular."
Foundations are gaining traction due to their inherent flexibility, particularly as they lack shareholders. Nancy Chien of Bedell Cristin elaborates that foundations can offer a more adaptable framework compared to traditional trusts. Furthermore, many families are drawn to the control offered by private trust companies, which can integrate family members into their governance. This growing recognition of foundations as a robust wealth management tool is a significant trend in the current landscape.
The Spear’s methodology for compiling these indices involves a rigorous process. The Spear’s Research Unit reassesses and refines its rankings annually by gathering comprehensive data on advisers and firms. This includes evaluating submission forms, collating nominations, conducting extensive peer reviews, analyzing data from third-party sources, soliciting references and recommendations, consulting with industry experts, and conducting hundreds of in-depth interviews. A proprietary scoring system, which assigns varying weightings to different attributes, is employed to evaluate advisers. These scores directly inform each new ranking published online and subsequently in print, culminating in the annual Spear’s 500 directory. The online platform, spears500.com, offers a searchable database of over 4,000 entities, allowing users to filter by location, specialist expertise, and client base to find suitable advisers.
Featured Advisers in Trusts, Structuring, and Offshore Law
The 2026 Spear’s Tax & Trust Indices highlight several leading professionals in the field:
Rose Chamberlayne, a partner at Wiggin Osborne Fullerlove based in Cheltenham, offers comprehensive wealth preservation and succession advice to UHNW, multi-jurisdictional families. Her holistic approach extends beyond tax advice to encompass lifestyle and reputational considerations, particularly for clients relocating internationally, including Americans moving to the UK and Britons relocating to Europe or Dubai. Chamberlayne focuses on modernizing older trust structures for next-generation HNW individuals, emphasizing simplification and planning that allows clients to live comfortably and fulfilled lives. Her expertise is crucial in explaining and adapting complex legacy structures to contemporary needs.
David Gilmour, founder and CEO of Imperium, based in Guernsey, has overseen the significant evolution of his firm since its inception in 2011. Imperium now serves clients across the UK, Channel Islands, Switzerland, and Abu Dhabi. Gilmour leads the group’s overall strategy while remaining actively involved with major family office and UHNW clients on establishing, administering, and managing their onshore and offshore trusts. He emphasizes Imperium’s rare position as a substantial, independent provider in a market dominated by private equity or bank-owned competitors, underscoring their commitment to remaining an independent business.
Darren Kelland, head of private client services at Hawksford, prioritizes building trust and long-term relationships with his clients and their other advisors. This collaborative approach is essential for delivering tailored solutions to complex individual needs. Kelland’s practice primarily serves clients in the UK, Ireland, and the Middle East. With over two decades of experience, he is a recognized expert in succession planning, asset protection, and family office solutions, offering strategic guidance on navigating generational wealth transfer and asset security.
Naomi Rive, group director and head of private wealth at Highvern, brings over a decade of legal experience followed by a transition into the fiduciary sector in 2014. She advocates for trust companies to be viewed as professional partners rather than mere service providers, working closely with UHNW families and family offices. Rive notes a shift in client preference towards family investment companies, partnerships, and private family funds following recent UK tax changes that made trusts less attractive. However, she remains a staunch proponent of trusts, emphasizing their enduring benefits in confidentiality and seamless generational handover, arguing that "nothing really replaces the benefits of a trust fully."
Andrew Bayles, director and general counsel at SwissIndependent Trustees, a family-owned firm based in Geneva, is highly regarded for his technical acumen, commercial approach, and trustworthiness. He advises a diverse international clientele, including UHNWs from the Middle East, Europe, the Channel Islands, and North America, on trust structuring, governance, and succession planning. Bayles also serves as an independent trustee and trust protector, demonstrating particular skill in managing complex family dynamics and multi-jurisdictional asset portfolios. His steady and commercial approach is invaluable in navigating challenging situations.
The complete list of leading trusts, structuring, and offshore lawyers, as detailed in the Spear’s 500 directory, provides an invaluable resource for individuals and families seeking expert guidance in this complex field. Each profiled adviser is recognized for their deep knowledge, extensive experience, and unwavering commitment to discretion and superior client service.
Methodology and Broader Implications
The annual compilation of the Spear’s Tax & Trust Indices represents a commitment to identifying and celebrating excellence in wealth management. The rigorous methodology ensures that the rankings reflect genuine expertise and a proven track record in navigating the increasingly intricate world of international finance and law. As global wealth continues to grow and diversify, the demand for sophisticated structuring, asset protection, and succession planning will only intensify.
The trends observed in the 2026 indices—the rise of foundations, the impact of regulatory changes, and the increasing sophistication of clients, particularly those from the digital asset space—underscore the dynamic nature of the industry. Advisers who can adapt to these shifts, offer innovative solutions, and maintain the highest standards of client care will continue to lead the field. The enduring relevance of trusts, alongside newer structures like foundations and family investment companies, highlights the ongoing need for specialized legal and fiduciary expertise to safeguard and perpetuate wealth for future generations in an ever-evolving global landscape.
