Offshore Trusts are commonly used by individuals and corporations for a variety of purposes relating to financial planning, tax efficiency and asset protection.
Many of the best known financial services firms have large trust administration departments that offer management and administration services to corporations and high net worth individuals.
Trust Accountants monitor and record the financial transactions of the trust and report periodically to the Trustees, Beneficiaries and/or Trustor. Due to the large number of, often complex, purposes, transactions and clients, trust accounting can be a challenging and interesting role. Trust Accounting can incorporate elements of both Structured Finance and Fund Accounting.