Lawyers to millionaires give more advice on corporate structures

Just over half (51 per cent) of private client lawyers expect to see more use of corporate structures in future, as an alternative to traditional trusts.

The research, one of the conclusions of the 'Wealth Report 2013', sponsored by Global Legal Post in association with Boodle Hatfield, shows how the spread of wealth in developing countries is affecting the type of structure used to own assets. Simon Rylatt, private client partner at Boodle Hatfield, says: 'People from, for example, the Middle East and Russia are more sceptical of trusts. The idea of handing over control to someone in a far-flung place is, understandably something they have a great deal of concern about.'