Alan Milgate
+13459497576
Alan Milgate
Partner | Rawlinson & Hunter
OFFICE LOCATION
JURISDICTIONS QUALIFIED IN
Canada
TOP AREAS OF EXPERTISE
Family offices
international trust structures
Private trust companies and purpose trusts
RECOMMENDED SPECIALISMS
Trusts
Multi-National Families
CROSS-BORDER CLIENT EXPERIENCE IN
Andrew De La Rosa
+13459265214
Andrew De La Rosa
Independent Counsel | ICT Chambers
JURISDICTION
Cayman
England
TOP 3 AREAS OF EXPERTISE
Contentious trusts
Contentious estates
Family wealth/business succession planning
Fiduciary relationships in the corporate, partnership and collective investment spheres
What has been the highlight of your practice over the past 12 months?
Over the last 12 months, I have been involved in engineering the transition of long-standing trust structures between generations, from an existing fiduciary team to different, client-controlled arrangements. Two of these instances involved families from non-common law jurisdictions with huge wealth. They were both testing and court applications were necessary. One was particularly difficult as the existing team was standing out against change. The other involved dealing with hundreds of members of a large Arab family, whose wealth needed to be structured in accordance with what the Settlor wanted.
How did you get into private client?
Accident of practice. I started out as a chancery practitioner with primarily commercial work - I only became specialised with greater experience. It was the international dimension that appealed to me foremost in private client, after acting for Muslim clients for many years. It was the substance of it too – trust and succession planning came second after experience in litigation of what can and does go wrong.
Do you have any outside interests or hobbies?
It was travel! I have always been interested in scale modelling and photography.
Where have you seen growth in your practice over the last year?
Undoubtedly in my case it has been restructuring of existing family wealth/succession trusts to cater for changed circumstances - mostly in the families themselves, including the wishes of different family members to go their own separate ways, but also in the global regulatory/compliance scene. Some of these exercises have been protracted and difficult, not least because the original settlor/founder 'vision' for the structure may have been inflexible and/or intended to endure for several generations, and the assumptions made about how the structure would in fact operate have been falsified.
What do you think will be the biggest three challenges in your practice for the next 12 months?
(1) Coping with remote contact with clients and colleagues in circumstances where, in practical terms, nobody is allowed to travel anywhere to meet in person
(2) More EU-inspired regulatory/compliance onslaughts against the entire global wealth management/transfer industries
(3) Seeing new sources of work become more limited the longer the COVID situation continues.
What advice would you give to your younger self?
Specialise sooner rather than later - because it takes a long time to develop a specialist practice - and do so in a sphere that is not cyclical. (International trust and estate work tends not to be as subject to ups and down than other areas although bigger firms, who essentially form my client base, sometimes reshuffle their priorities towards commercial transactions work and insolvency for perceived gain.)
Rachael Reynolds
Rachael Reynolds
Partner, Global Head of Dispute Resolution | Ogier
JURISDICTION
Cayman Islands
England and Wales (non-practising)
TOP 3 AREAS OF EXPERTISE
Administration of estates and trusts
Dispute resolution
What has been the highlight of your practice over the past 12 months?
Acting as a trusted adviser to a prominent HNW and finding a solution to an issue which had been unresolved for a decade.
What advice would you give rising stars/new lawyers in the private client world?
Lean in and offer your view - you have something valuable to offer.
What is your favourite quote?
"The only way to do great work is to love what you do," Steve Jobs.
Where have you seen growth in your practice over the last year?
We have had an exceptionally busy year in trusts and estates disputes, with a number of cases coming before the Cayman courts which have involved the courts considering for the first time particular legislative provisions, and giving important and precedent-setting guidance to trustees facing attack from third parties, other jurisdictions or their own beneficiaries (including cases concerning the court's jurisdiction to reform STAR trusts, the test for the removal of executors, consideration of when the Cayman court has exclusive jurisdiction over Cayman trusts, and the public policy considerations in the context of enforcement of foreign decisions concerning Cayman trusts).
What do you think will be the biggest three challenges in your practice for the next 12 months?
● The constantly changing regulatory landscape and compliance fatigue is a significant challenge for our clients. The need to keep abreast of all relevant directives and obligations is leading to a large amount of innocent non-compliance with serious consequences.
● The universal level of uncertainty and the dramatic economic effects of the pandemic is leading to the need for clients to rethink well established business models and strategies, and is leading to increased litigation as our clients are facing increasing scrutiny of their management of assets. Whilst that is good for the litigators amongst us, it is a continuing stress point for our clients who are facing unprecedented pressure and levels of uncertainty.
● Virtual meetings work very well for the most part, and Cayman practitioners are well used to working on a day to day basis with clients in all parts of the world and with all time zones - but there are certain circumstances where there is no substitute for face to face meetings, particularly where contentious and sensitive issues need to be discussed and resolved, or where capacity is an issue. The inability to meet is a challenge we are all resigned to dealing with for months to come but we very much look forward to the time we can see our clients in person again.
What are three top tips for dealing with your clients remotely?
1. Where possible, make time for a video conference rather than just relying on a call or an email. I have found many clients appreciate, and are more comfortable with, a face to face discussion. Speaking by video goes some small way to compensate for being unable to meet in person.
2. Make the most of the technology that is available – whether that is secure document sharing on data rooms, utilising electronic signatures or having virtual meetings on screen.
3. Unmute!
Shân Warnock-Smith QC
Shân Warnock-Smith QC
Queen's Counsel | ICT Chambers and 5 Stone Buildings
JURISDICTION
Cayman Islands
England and Wales
British Virgin Islands
Trinidad and Tobago
Barbados
DIFC
Ad hoc admissions in Bermuda and Hong Kong
TOP 3 AREAS OF EXPERTISE
Advice and litigation in connection with all aspects of trusts and succession planning vehicles.
What has been the highlight of your practice over the past 12 months?
The Court of Final Appeal’s decision in G and DBS Trustee. It was significant and such a fundamental issue for everyone involved in trusts.
How did you get into private client?
I started life as a private client lawyer (and not much of a litigator, really). It was only as the years went by and international trusts became much more regularly used that I got involved in the international nature of the work. Inevitably, as it was international, part was going to be litigious. I was a private client advisor, and the spin off was litigation. I feel very strongly that this is the way around it should be -proper trust lawyers, rather than general litigators,turning their hand to trust litigation.
What advice would you give rising stars/new lawyers in the private client world?
Communicate! The most important characteristic of a first-class private client lawyer is the ability to communicate with and relate to lay and professional clients and other advisers.
What is your favourite quote?
"Dignity, always dignity." Singing in the Rain
Do you have any outside interests or hobbies?
Interior design, exercise and jigsaws (it’s the only thing I ever do slowly!).
When the restaurants reopen, where would you like to go?
Bacaro, in Cayman. A wonderful outdoor area – and my son is captain of the Bacaro football team.
Where have you seen growth in your practice over the last year?
Reorganising trust structures as UHNWIs choose safer places to live, such as Cayman, in light of the pandemic.
What is the main area of growth you predict for the next 12 months?
Even more trustee blessing applications to approve such reorganisations.
What advice would you give to your younger self?
Be confident in your abilities but never believe your own publicity.
Bhavesh Patel
Bhavesh Patel
Partner | Travers Thorp Alberga
JURISDICTION
Cayman Islands
British Virgin Islands
England and Wales
TOP 3 AREAS OF EXPERTISE
Dispute resolution (including contentious trusts and insolvency)
Asset protection and holding structures
Restructuring
What has been the highlight of your practice over the past 12 months?
Dealing with the administration of the estate of a wealthy middle eastern UHNW and the interplay between Sharia Law and Cayman Law and how the administration of a Cayman estate can conflict with the process under Sharia Law.
How did you get into private client?
The offshore world, really. I was doing some private client litigation at HSF with Robert Hunter and then moved across to Forbes Hare, who we had instructed on a BVI trusts matter, and that foray into BVI law meant that more and more of my work was private client or for HNWs. The nature of the offshore world is such that at its core, you are doing work for private clients even when you are dealing with corporate entities because they are owned by HNW individuals or families. The more traditional “private client” work has increased during my time with TTA in Cayman because of the nature of our practice and history of the firm.
What advice would you give rising stars/new lawyers in the private client world?
Listen, learn, be inquisitive and never forget that relationships are the most important part of any business - both internal and external.
What is your favourite quote?
“Worrying is like a rocking chair – it gives you something to do but doesn’t get you anywhere.”
Do you have any outside interests or hobbies?
Golfing, cricket and cooking.
When the restaurants reopen, where would you like to go?
We are in a bit of a bubble in Cayman and most restaurants are up and running as normal, but once travel resumes then I am looking forward to getting off island and getting some good Chinese food as that’s the one cuisine we really miss here!
What is the main area of growth you predict for the next 12 months?
Contentious Trusts have seen an increase generally over the past year and we predict that will continue – not necessarily with Court applications/ litigation but certainly with enquiries being made of trustees and/ or advisors. We’re expecting an increase in contentious work generally as the world economies recover from COVID-19.
What advice would you give to your younger self?
1. Move to Cayman earlier!
2. Invest in assets as soon as you can
3. Listen to your parents more
What are three top tips for dealing with your clients remotely?
1. Do not presume that remote working means that people are more available and/or willing to do calls outside of normal working hours.
2. Ask if a video or voice call is preferred.
3. Don’t just dive straight into the work conversation – the usual etiquette of polite conversation should still exist on a virtual meeting!
Richard Thompson
Richard Thompson
Client Relationship Officer | EFG Wealth Management
JURISDICTIONS QUALIFIED IN
Cayman Islands
RECOMMENDED SPECIALISMS
Financial Advisory Firm
Private Banker
Marcus Parker
Marcus Parker
Director and Head of Trusts | Genesis Trust
JURISDICTIONS QUALIFIED IN
Cayman Islands
England and Wales
TOP AREAS OF EXPERTISE
Acting as trustee for global wealthy families.
Providing a “white knight” service in contentious trust matters.
Luxury travel adviser!
RECOMMENDED SPECIALISMS
Exotic Assets
Simple Structure
Multi-National Families
What has been the highlight of your practice over the past 12 months?
Acting for one of the largest families in Asia through a challenging transitional period.
What advice would you give rising stars/new lawyers in the private client world?
Listen and observe and try and learn something new every day.
What sets you apart from your peers?
I think I am a good listener and believe it is important to carefully reflect before taking action or giving advice.
What is your favourite quote?
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment. Buddha.
Zachary Hoskin
Zachary Hoskin
Senior Associate | Mourant
JURISDICTIONS QUALIFIED IN
Cayman Islands
What has been the highlight of your practice over the past 12 months?
Finding a good balance of contentious and non-contentious trusts work alongside my commercial litigation practice.
What advice would you give rising stars/new lawyers in the private client world?
A messy desk doesn't make you look busy, it makes you look disorganised!
What is your favourite quote?
"A little consideration, a little thought for others, makes all the difference." Eeyore.
Bernadette Carey
Bernadette Carey
Partner | Carey Olsen
JURISDICTIONS QUALIFIED IN
Cayman Islands
New Zealand
Australia
TOP AREAS OF EXPERTISE
Contentious trusts and estates
Multi-party cross border disputes
Wealth structuring and restructuring
What has been the highlight of your practice over the past 12 months?
Growing the Cayman Islands Trust & Private Wealth Team in the Cayman Islands, and working on some fascinating court applications with my peers in the Cayman market.
How did you get into private client?
A natural evolution from being an offshore litigator with an interest in all things trusts and estates related.
What advice would you give rising stars/new lawyers in the private client world?
Take time to get to know your clients and what motivates them, focus on staying up to date with industry developments and trends so your contributions will be valuable, and prioritise making and growing strong connections with your peers in the market both locally and internationally.
What is your favourite quote?
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." Dr Seuss.
Do you have any outside interests or hobbies?
Snorkelling with my children, running (when it is not too hot) and - back in the good old days - travelling.
When the restaurants reopen, where would you like to go?
The Brasserie.