Just as Federico Tabja recently wrote about limited liability companies in the United States (LLCs), capital is also being structured in other ways.
The Trust is a widely used structure in the planning of high-net-worth families and individuals. This structure is not necessarily designed to pay fewer taxes. In fact, if that is the only objective, it is not worth it. A well-crafted trust is not about saving taxes—it is about wealth structuring, about preserving wealth, transferring it without losing values or family coherence, and in some cases, retaining control to build something that keeps functioning when one is no longer here.
The heart of every trust is the Deed of Trust, the document that creates it, governs it, and keeps it alive. It defines roles, conditions, objectives, and limits. It is not drafted with templates or AI; it must be crafted side by side with the Settlor, the person who “transfers” their assets to the trust.
That drafting process, more than technical, has a deeply human component, because the Deed does not merely reflect an abstract pool of assets—it also reflects intention, history, tradition, and purpose.
Creating a trust in the U.S. does not mean that the laws of the Settlors’ countries of residence cease to exist. For example, inheritance rules in Chile are strict and protect certain heirs (forced heirship rules). This means that not everything disposed of outside the country is fully free from local effects.
For this reason, every trust must be designed with a complete view: what happens in Delaware also has consequences in Santiago.
It is a governance and continuity tool that must consider certain rules that may be internationally applicable.
The Trust is a structure, a bridge between generations, between control and legacy. And its true value lies in something that cannot be copied or automated: the time, the conversation, and the proper dedication with the person who creates it.
Ultimately, a trust is not drafted solely by lawyers—it is built with the client.
Legalkap