David Cooney is a superstar. He is very polished, extremely practical, always well-prepared and thorough. He has a brilliant tax mind.
David's excellent, he's probably the best trust lawyer of his generation in the Cayman Islands. He is very commercial, very knowledgeable, very responsive, very thorough, a pleasure to work with. He's just very, very good.
David Cooney regularly acts for high net worth families, private banks and trustees on wealth management matters. His practice focuses on international trust law and he is recognised as "a popular choice for clients.
Fast, efficient and brilliant standout lawyer' David Cooney, who is 'technically impeccable
David joined Collas Crill's Guernsey office in early 2020 and is a partner in the International Private Client and Trusts team. David specialises in the establishment of complicated wealth planning structures, spanning multiple jurisdictions. David is qualified and regularly advises in relation to the laws of the Cayman Islands, BVI and Guernsey*. Immediately prior to joining Collas Crill's Guernsey office, David spent four years in the Zurich office of an international private client firm.
David's private client practice involves a broad range of commercial and private trust matters, including in connection with the establishment and administration of investment funds structured as unit trusts, pension trusts and employee benefit trusts. David frequently advises family offices, charitable organisations, trustees and high net worth individuals on complex trust structures for wealth and estate planning, as well as the use of private trust companies, foundations (under both Cayman and Guernsey laws) and STAR and VISTA Trusts (under Cayman and BVI laws).
David's recent experience includes:
Changes of trustee documents (DORA or IORAs) usually contain indemnities from the incoming trustee to the outgoing trustee which are often hotly negotiated and can be complex. A change of trustee also presents a good opportunity for the incoming trustee to undertake a due diligence exercise by reviewing the trust documents, ensuring that the previous chain of trusteeship is intact and ensuring that the outgoing trustee ratifies or rectifies any flaws in the trust or the trust documents before the trusteeship is handed over. We have considerable experience in narrowing the issues in these negotiations. We are also well versed in assisting our trustee clients in mitigating risk by spotting (sometimes very significant flaws) in trusts before they are taken on and by ratifying previous discrepancies in a commercial manner – commonly without necessitating the involvement of the court.Contact us //
Alongside companies and wills, Family Trusts are still a very popular tool for estate planning and asset protection – perhaps even more so in the light of the envisaged changes to the UK non-dom regime. Family Foundations are proving to be a popular new tool for families looking to ensure their wealth and assets are protected for future generations. We establish trusts and foundations for local and international families to preserve family businesses and ensure appropriate succession planning. We work closely with tax advisers in order to ensure that any new Family trust or foundation fits with a family's overall tax position and will be a workable long term, cost efficient structure. Discretionary trusts are still the most popular but we can also advise on fixed trusts, will trusts and pension trusts.Contact us //
As global legislation, regulation and taxation constantly change and become more complex, it has never been more important to make long-term plans to secure your future, the future of your family or your business. We cut through the legal jargon to provide clear, practical advice when you most need it and anticipate the challenges you are likely to face so that you can rest assured you and your family are in safe hands at every step of the way.Contact us //
The duties of a trustee plays in managing the trust assets and dealing with beneficiaries not only vary from jurisdiction to jurisdiction, but are dictated by trust agreement and its nuances, the type of trust and its specific purpose. Advising on trustee duties is a rapidly growing area given the increasingly complex legal and regulatory framework to which trustees must adhere. Importantly, trustees are becoming increasingly aware of the advantages of acting early and seeking advice on their duties – particularly in situations of potential conflict or stress. Trustees are also making more use of the courts in asking for directions or in having "momentous decisions" blessed.Contact us //
Developments, consolidations and regulation have means that effective risk management and mitigation has never been more important. Our advice is not a ‘one size fits all’ solution, but rather is based on an individual company’s specific business model. By building a partnership with you we add value by providing to trustees with a range of regulatory advice, administration support, products and services within a dedicated team approach, precedent development and on-going education and industry updates. Together with our multi-disciplinary risk and regulatory team, we advise on anti money laundering laws and the regulation of trust companies and can assist in the creation and improvement of straightforward operating procedures, including checklists, designed in conjunction with the needs of a trustee to ensure that all members of staff, no matter what their experience, can provide consistent and accurate back office services.Contact us //
We work closely with trust and fiduciary businesses and their clients to build strong relationships based on trust, confidence and a deep understanding of their priorities and needs. We have an extensive range of experience in terms of particular products or service lines, including pensions and Shariah, and many of the team have worked in the other international off and onshore jurisdictions prominent in the world of wealth management. We have associated skills in dispute resolution, risk and regulatory, and image protection. We ensure that thought has been given to the composition of the team on every piece of work we do, and use our mix of skill and experience effectively.Contact us //
Planning for the future is something that people often don't like to think about however it is one of the most important things that you should do during your lifetime. Whether you need simple Wills put in place or more complex estate structuring, our experienced and approachable team can help you organise and plan your affairs for the immediate and longer term future. We work hard to guide you through any issues of concern to ensure that you reach a position where you feel reassured that you are clear as to what will happen to your assets, and the ones you leave behind, in the future.Contact us //
This is part of a series of guides in which we examine areas of Guernsey law that frequently arise in practice. Further guides will be released weekly; click here to...
Five private client specialists from Collas Crill have been included in the Private Client Global Elite Directory 2020/21. Compiled in conjunction with Legal Week, the...
In a recent decision the Privy Council has had the opportunity to consider the circumstances under which a trust may be declared invalid due to the reservation of powers by...
Guernsey law provides for the establishment and regulation of Private Trust Companies (PTCs). A PTC is an entity that is formed for the purpose of being the trustee of one...
Collas Crill has been named finalist in two categories at the 15th Annual STEP Private Client Awards. The offshore law firm has been shortlisted for Private Client Legal...
The 'Trust me' series from Collas Crill's Guernsey International Private Client and Trust team is intended to highlight key considerations and provide practical pointers for...
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