Liechtenstein discretionary trusts: beneficiaries, be aware of your rights!

Abstract

Abstract Be aware, the beneficiary principle as it is lived in Liechtenstein might not meet your expectations. Beneficiaries of a discretionary trust under the Principality’s jurisdiction could fall short of basic rights, which one would expect granted. These include the right to information and the right to file a motion with the court if one suspects that the trust has been administered in an incorrect manner—ie where allocation, distribution, administration and invoicing do not comply with the initial agreement. Liechtenstein law offers various options to meet the requirements of clients, however, take this article as good advice to apply particular care when drafting a trust deed.