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The New Trustees

Artificial Intelligence and Its Impact on Trusts, Wealth, and the Places That Want Them

A strategist's field guide to the seven jurisdictions that will define wealth management in the coming decade — and the forces that are reshaping everything the trust industry thought it knew.

The New Trustees A Strategist's Memoir
WILLIAM CHAN
eBook Paperback Kindle Unlimited
7
Jurisdictions Covered In Depth
16
Chapters of Strategic Insight
100+
Actionable Takeaways
2
Strategy Engines Built From The Book

Not a Legal Textbook. A Strategist's Truth.

The trust industry is changing faster than at any point in the past century. The old centres are fading. New hubs are rising. The families and advisers who understand this new geography will protect their wealth. Those who do not will be left behind.

For Trustees & Advisers

Strategic frameworks — SWOT, Porter's Five Forces, the Value Chain — applied to the trust industry with brutal honesty. Learn why profitability is declining and what to do about it.

For Settlors & Families

A jurisdiction-by-jurisdiction guide that answers the three questions every settlor actually asks — in plain language, without the legal ceremony.

For the Next Generation

What AI, tokenisation, and the Great Wealth Transfer mean for the structures your family is about to inherit — and what trustees are not telling you about their own technology gap.

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Where Wealth Is Moving

Each jurisdiction has its own character, its own strengths, and its own hidden costs. The book goes deep on all seven. Here is the strategic snapshot.

🇸🇬 Singapore

Gold Standard

The most legally certain jurisdiction in Asia. World-class courts, professional regulator, and the VCC structure. Expensive, slow, and demanding — but it delivers.

Best for: Families who value certainty above all else.

🇭🇰 Hong Kong

China Gateway

The city that refuses to die. Lower cost than Singapore, faster approval, and irreplaceable China connectivity. The boomerang effect is real and growing.

Best for: Families with mainland China exposure.

🇦🇪 Dubai (DIFC)

Zero Tax Hub

Zero tax, fast execution, and a regulator that wants your business. The courtroom has never seen a trust dispute — which is either reassuring or alarming, depending on your risk tolerance.

Best for: Tax efficiency over legal certainty.

🇦🇪 Abu Dhabi (ADGM)

Institutional Choice

The tanker, not the speedboat. Real case law. ADIA co-investment access. A regulator that measures success by the absence of failure. Slow, serious, and worth it.

Best for: Institutional families with patience.

🇲🇾 Malaysia

Professional's Secret

Half the cost of Singapore. Available, experienced talent. The world's most developed Islamic wealth management ecosystem. The best-kept secret in the industry.

Best for: Price-sensitive and Muslim families.

🇲🇾 Labuan

Offshore Hybrid

The world's only Islamic digital asset trust framework. Offshore flexibility with onshore Malaysian substance. Relationship-first, scale-limited, and uniquely positioned.

Best for: Islamic digital asset structures.

🇸🇦 Saudi Arabia

Sleeping Giant

No trust law yet. But the PIF has hundreds of billions. The family office awakening is real. The first movers who build relationships now will own the market when the law passes.

Best for: Patient first-movers with high risk tolerance.

Built From The Book's Frameworks

Every action step, framework, and decision matrix from all 16 chapters — distilled into two engines. Input your situation. Get a structured strategic recommendation in seconds.

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Engine 1 — Settlor & Family Advisor

For families and settlors assessing which jurisdiction and structure fits their specific situation, priorities, and asset profile.

  • Jurisdiction ranking based on your priorities
  • Sharia compliance assessment
  • Digital asset structure routing
  • Immediate action checklist
  • Risk flag identification
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Engine 2 — Trustee & Professional Advisor

For trustees, private bankers, wealth managers, and estate planners analysing a client situation and building a structured recommendation.

  • Client profile analysis
  • Structure recommendation by complexity
  • Concern-specific action plan
  • Value chain optimisation guidance
  • Meeting notes input supported

Answer the questions below. Optionally paste meeting notes or a situation summary. The engine will recommend a jurisdiction, structure, and action checklist drawn from The New Trustees.

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Or click to upload a PDF / Word document (meeting minutes, consultation notes)

For professional use. Input your client's profile and primary concern. The engine generates a structured recommendation drawn from the frameworks in The New Trustees — including jurisdiction, vehicle, structure type, and a prioritised action checklist.

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Or click to upload meeting minutes, consultation notes, or a recorded transcript

These engines are strategic tools derived from The New Trustees. They do not constitute legal or financial advice. Always engage qualified professionals before making structural decisions.

Every Strategic Action from Every Chapter

Click any chapter to expand its full set of recommended actions — distilled from the book and indexed by topic.

CH 1A Trust Is Not a Product, It Is a Parachute

The three questions every settlor actually asks — and why getting the human relationship right matters more than the legal drafting.

Write down the family's three core concerns before any legal conversation begins
Choose trustee on responsiveness and relationship — not credentials alone
Draft a beneficiary communication plan alongside the trust deed, not after
Build beneficiary education as a funded, scheduled obligation in the deed itself
Schedule a formal trust review every three years — put it in the calendar now
Ask any trustee candidate to demonstrate their AI administration capabilities
CH 2The Jurisdictions That Will Matter

The five-question framework for choosing the right jurisdiction — and why the default is almost never the optimal answer.

Rank your five priorities explicitly: certainty, tax efficiency, speed, cost, reputation
Present minimum three jurisdiction options to every client — including one they have not considered
Design multi-jurisdictional structures with clean restructuring pathways built in from day one
Match beneficiary age profile to trustee technology capability before selection
Review jurisdiction fit every three years or after any major change in assets or residency
Never accept the adviser's first default recommendation without asking about Malaysia, Labuan, and Abu Dhabi
CH 4Singapore — The Overcrowded Fortress

What the Fujian overlay means in practice, why the VCC matters, and how to survive Singapore's compliance machinery.

Open Singapore bank account before approaching any trustee — it is the longest bottleneck
Establish a real physical presence before filing — a real desk, a real lease, a real person
For any China-linked file, engage a local compliance-connected adviser before submitting a single document
Budget 12 months minimum and 20% cost contingency above the initial quote
Use the VCC structure for any family with multiple branches or digital asset exposure
Ask trustees directly: 'What is your current regulatory standing and approval rate for files like mine?'
CH 6Dubai — The Courtroom That Has Never Seen a Trust

Why zero tax comes with zero case law — and the dual-jurisdiction model that manages this risk without giving up the tax advantage.

Always pair a Dubai trust with a Singapore or common law trust for legal certainty backbone
Include mandatory arbitration with trust-experienced arbitrators in every DIFC trust deed
Commission geopolitical risk scenario analysis before committing any illiquid assets
Budget explicit flood and climate insurance — standard UAE policies frequently exclude these
Ask every DIFC trustee: 'How have you managed legal uncertainty for existing clients?'
CH 8Malaysia — The Professional's Secret Weapon

Why Malaysia is half the cost of Singapore, how the Islamic trust framework works in practice, and the MM2H residency synergy.

Analyse Malaysia explicitly before defaulting to Singapore — the analysis must happen, not be skipped
For Muslim families, start with Malaysia and work outward only if Malaysia cannot meet the need
Structure MM2H residency application in conjunction with the trust from day one — retrofitting is costly
Open the Malaysian bank account before approaching a trustee — it often determines which trustee will accept you
Confirm territorial tax treatment of each asset class with a qualified Malaysian tax lawyer before settlement
CH 5Hong Kong — The City That Refuses to Die

The boomerang effect, the Evergrande hangover, and why Hong Kong still wins decisively for China-connected families despite everything.

Open your Hong Kong bank account before committing to any structure — it is the most reliable compliance indicator
Prepare a full China property developer counterparty disclosure document upfront — do not wait to be asked
If your Singapore process has exceeded 12 months, calculate the Hong Kong alternative cost honestly
Use the OFC rather than the VCC for cost-sensitive multi-branch structures where global recognition is not critical
Never use Hong Kong for any file where a settlor, trustee, or beneficiary has political exposure in mainland China
Request your prospective trustee's full property developer bond exposure before engaging them
CH 7Abu Dhabi — The Institutional Alternative

Why the tanker beats the speedboat for institutional families — and how ADIA co-investment changes the calculus entirely.

Compare Dubai and Abu Dhabi on risk-adjusted basis — not cost alone; ADGM case law has real value
Write your source of wealth narrative yourself — the ADGM responds to authentic family voice, not legal briefs
Engage an Abu Dhabi adviser with sovereign fund relationships before structuring if ADIA co-investment is a goal
Draft trustee discretion clauses specifically for sanctions, strait closure, and oil price disruption scenarios
Plan for a minimum 18-month setup timeline — build it into your expectations from day one
For purpose trusts — historic properties, archives, philanthropy — ADGM is the only UAE option with statutory recognition
CH 9Labuan — The Offshore Bolt-Hole You Have Never Heard Of

The world's only Islamic digital asset trust framework — and why the relationship model of Labuan's boutique firms cannot be replicated anywhere else.

For Islamic digital asset structures, start with Labuan — it is the only jurisdiction with a complete tested framework for both requirements
Commission a reputational risk assessment specific to your counterparty landscape before settlement
Seek an introduction from an existing Labuan client — the relationship culture means introductions accelerate everything
Budget explicitly for US legal opinion costs if any trust assets are US-based — this is a near-certain requirement
Monitor Fusang's commercial development as the leading indicator of Labuan's digital asset market maturity
Do not use Labuan for complex novel structures — thin case law creates real legal risk for anything unconventional
CH 10Saudi Arabia — The Sleeping Giant

No trust law yet — but the PIF, the family office awakening, and the political will make this the most significant emerging market in the world.

Subscribe to Saudi Ministry of Justice and Capital Market Authority updates now — the law announcement will not have advance notice
Commission a Sharia compliance audit of your current portfolio immediately if Saudi Arabia is a future target
Build Saudi advisory relationships before the law passes — these will be worth ten times more than post-announcement relationships
Structure current Saudi exposure through Dubai or Labuan with a clean Saudi restructuring pathway built into the deed
Assess PIF co-investment potential honestly — only families with aligned assets should anchor their strategy around this
Treat giga-projects as long-horizon speculative positions only — not as stable investment assets
CH 11SWOT Analysis as a Parable, Not a Grid

Why SWOT is a listening discipline — not a diagram — and how to apply it across all seven jurisdictions in real time during a client meeting.

Run a silent SWOT for at least three jurisdictions before every client meeting — arrive with a view, not a blank slate
Ask clients to rank their priorities explicitly — certainty, tax, speed, cost, reputation — before any analysis begins
Use the seven-jurisdiction SWOT as a discipline check on your own default recommendation every single time
For multi-generational families, run separate analyses for current generation and beneficiary generation — they differ significantly
Document the SWOT rationale in the client file at the time of recommendation — it becomes the trigger for future review conversations
CH 12Porter's Five Forces for People Who Do Not Read Porter

Why the trust industry's structural profitability is declining — all five forces moving in the wrong direction simultaneously — and what to do about it.

Map your client book across the five force dimensions — identify which segments are defensible against digital substitute competition
Ask every trustee candidate about staff tenure and succession planning — key-person risk is the single biggest operational risk for boutiques
Before using any digital nominee service, commission an independent legal opinion on fiduciary duty and asset protection
Invest in compliance infrastructure as a competitive weapon — it eliminates under-resourced competitors as a side effect
Issue formal RFPs with benchmarking criteria when selecting a trustee — never accept the first fee structure presented
CH 13The Value Chain Lie

Why moving upstream without automating downstream destroys trust companies — and how Sterling Trust got it right when Stellar Group did not.

Commission a process-mapping exercise before accepting any 'move upstream' recommendation
Quantify hours spent on document collection, accounting, and regulatory filings — that is your automation ROI ceiling
Build custom software — off-the-shelf platforms serve the vendor's model, not yours
Never cut administration headcount before the automation is live and working
Treat upstream advisory as a retention tool for existing clients — not a growth engine for new revenue
CH 14What the Middle East War Did to Trusts

How geopolitical disruption permanently rewired compliance culture — and why the families that prepared before the crisis are the only ones who came through cleanly.

If your family is in a conflict-adjacent region, begin trust settlement immediately — every month of delay adds months of compliance time
Build your source of wealth documentation archive now with physical copies stored outside your home country
Include explicit trustee authority for sanctions events in every UAE trust deed — freeze, restructure, and distribute authority must be unambiguous
Ask any UAE trustee whether they use AI for sanctions screening — if no, model the false-positive delay risk to your file
Require your UAE bank to provide written confirmation of their conflict-zone compliance policies — not verbal assurances
Maintain a relationship with a trustee in a non-conflict-adjacent jurisdiction — Singapore or Switzerland — even if you currently operate only in the Middle East
CH 15The Great Wealth Transfer Will Be a Mess

What the next generation of beneficiaries expects — and why most trust companies are completely unprepared to deliver it.

Commission a beneficiary experience audit — interview every beneficiary under 40 about their actual experience
Set a 12-month deadline for deploying a real-time beneficiary portal — this is now a threshold requirement
Hire a software engineer with no trust background to evaluate your processes with fresh eyes
Include under-40 beneficiaries in your governance review — not just inform them, include them
Require any trustee candidate to demonstrate a functioning beneficiary portal before engagement
CH 16Tokenisation, Blockchain & the On-Chain Fiduciary

The three tokenisation models — and why only the trust container works for institutional money. Plus the convergence of AI and blockchain in trust administration.

Engage your regulator in a formal pre-commencement conversation about digital asset custody rules before any client commitment
Pilot with one client, one asset class, and a simple structure — the edge cases will always surprise you
Draft trust deed provisions specifically for tokenised assets: on-chain rebalancing, key recovery, fork management
Build the private key loss recovery protocol from day one — retrofitting is structurally difficult
Never deploy agentic AI for investment decisions without written legal advice confirming the delegation is permissible

What Professionals Are Saying

★★★★★

"The most honest account of how the trust industry actually works that I have read in forty years of practice. William Chan has written the book that practitioners needed and did not have."

Stan Miller, JD
Trust Attorney, Little Rock, Arkansas
★★★★★

"The chapter on Malaysia alone was worth the price. I had been defaulting to Singapore for years without properly analysing the alternative. This book changed how I advise clients."

Private Banker
Singapore
★★★★★

"The Value Chain Lie chapter should be required reading for every trust company board. We were about to follow exactly the advice he warns against. This saved us from a serious mistake."

Trust Company Executive
Hong Kong

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