The Probate (Amendment) (Jersey) Law 2023 came into force on 27 October 2023 and has introduced some flexibility for the management of a deceased person's movable (personal) property. Small estates exemption The main change is to the exception for small estates. Under the previous regime it was necessary for someone to apply a grant of probate/letters of administration (a "grant") if a deceased person died leaving any movable property in Jersey of any value whatsoever. Furthermore, anyone who took possession of, or in any way administered, a deceased person's Jersey movable property without a grant could potentially face prosecution for the criminal offence of intermeddling...
Carey Olsen is a leading offshore law firm. We advise on Bermuda, British Virgin Islands, Cayman Islands, Guernsey and Jersey law across a global network of nine international offices. We are a full-service law firm working across banking and finance, corporate and M&A, investment funds and private equity, trusts and private wealth, dispute resolution, insolvency and property law. Our clients include global financial institutions, investment funds, private equity houses, multi-national corporations, public organizations, sovereign wealth funds, ultra-high net worth individuals, family offices, directors, trustees and private clients. We work alongside all of the major onshore law firms, accountancy firms and insolvency practitioners on corporate transactions and matters involving our jurisdictions.
Our advice is delivered by an approachable and experienced team of globally-minded lawyers who work in partnership with our clients to help them achieve their objectives. We have the expertise and resources to handle the most complex international transactions combined with a personal approach to business. In the face of opportunities or challenges, our clients know that the advice and guidance they receive from us will be based on a complete understanding of their goals and objectives combined with outstanding client service, technical excellence and commercial insight. Whether playing a lead or a supporting role, we always look at the bigger picture.
Areas of Practice
This briefing summarises the types of company available under Jersey law, the main steps involved in incorporating a Jersey company and some related points. We would be pleased to provide further information on company incorporations and on the purposes for which Jersey companies can be used. There is a range of briefing notes on our website. Types of Jersey company The key governing legislation in Jersey is the Companies (Jersey) Law 1991, as amended (the “CJL”). This is based on English company law but with certain enhanced flexibility...
The Co-op has bought four stores in Jersey (The Parade, Red Houses, Quennevais and Gorey Village), and three in Guernsey (St Sampson's, L'Aumone and Longfrie).The purchase of the stores will enable the Co-op to grow and develop its pharmacy business, whilst providing Co-op customers across the Channel Islands with greater access to its community pharmacy services. As part of the transaction, the Co-op offered roles to all existing Lloyds staff to ensure a smooth transition and to maintain the high level of service that both businesses are renowned for...
Carey Olsen advises Fission Gamma IC Limited on MMC UK Pension Fund's £2 billion longevity risk transfer
Fission Gamma, a new Guernsey-based incorporated cell, was created to insure the longevity risk of the Fund and to reinsure this risk with leading global re-insurer Munich Re. Insuring longevity risk in this way will enable the Fund to protect itself financially against longevity risk.The Carey Olsen corporate team advising on the Guernsey aspects of the transaction included partner Christopher Anderson, senior associate Alex Mauger and associate Oliver Orton...