The perfect holding vehicle for family business entities?

Abstract Trusts continue to be the mainstay in the Isle of Man as a means of holding and disposing of family wealth among family members. Where the holding structure, though, is intended to be more prescriptive in its control of family benefit, or the founder’s intentions cannot be carried out through a trust, the foundation is beginning to provide a seriously useful alternative. From the outset, where the holding entity was more in a corporate or commercial context, the foundation was obviously a more attractive entity than a trust (even a non-charitable purpose trust).