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If you want to appoint a trustee for a new trust, the most useful moment to test the relationship is before anything is signed. A trustee who is serious about the role will not simply accept a draft and wait for assets to arrive. They will learn who you are, read the deed critically, and decide whether they can properly take on the office.
This page describes that pre-signing phase, and the questions that let you compare candidates on substance rather than on presentation.
What happens before the deed is signed
The appointment is not a single event. It is a sequence in which each step can end the process, and that is a good thing: a trustee who declines at the right moment protects you from a structure that would not have worked.
Onboarding
Onboarding is where the trustee establishes who stands behind the trust: the settlor, the beneficiaries, any protector, and where the assets come from. This is driven by anti-money-laundering duties (LBA / AMLA / GwG) and by the trustee's own risk appetite. Expect requests for documents and explanations that feel thorough. They are a sign of a trustee who will later be able to answer a bank or an authority about the structure.
Onboarding also covers the purpose of the trust. A trustee needs to understand what the structure is meant to achieve, because that shapes how discretion is exercised years from now. The letter of wishes often begins to take shape here.
Review of the draft deed
The trustee reads the trust deed as the person who will have to live with it. Typical points of attention include:
- who may appoint and remove the trustee, and on what grounds;
- the powers given to the trustee, and any powers reserved by the settlor;
- whether a protector is named, and what that person can veto;
- how the class of beneficiaries is described, now and in the future;
- exculpation wording that limits the trustee's liability;
- how the trust can end, and how a trustee can retire.
A deed drafted without the trustee's input sometimes contains clauses that no regulated trustee can safely administer. Raising this before signing is far cheaper than amending later.
Acceptance of office
Acceptance of office is the moment the trustee agrees to act, usually formalised in writing and tied to the signing of the deed and the transfer of the first assets. Until then, there is no trustee in the legal sense. The trustee may still decline if onboarding or the deed review has left unresolved concerns.
The governing law question
Switzerland has no trust law of its own. The federal project to introduce one was shelved: the Council of States closed the motion on 12 December 2023 and the National Council on 27 February 2024, ending the procedure. A trust administered by a trustee in Switzerland is therefore a foreign-law trust, recognised through the Hague Convention.
In practice, the governing law is chosen with specialist counsel, and the trustee should be comfortable with it. A trustee who is unfamiliar with the chosen law is a warning sign, and it belongs on your list of questions.
Questions to put to a candidate trustee
Put the same questions to each candidate and compare the answers in writing.
| Question | What a good answer shows | What should worry you |
|---|---|---|
| How are you approved and supervised? | Clear explanation of FINMA and the supervisory organisation | Vague references to "being regulated" |
| Who will actually handle our file? | A named team and a continuity arrangement | A senior name at the pitch, no one afterwards |
| What would you change in our draft deed? | Specific, reasoned comments | Acceptance of everything as drafted |
| What would make you decline the appointment? | Concrete conditions | "We never refuse a client" |
| How do you handle disagreement with the protector? | A described process | No view on the question |
| How do you get paid? | A fee basis explained before signing | Evasion until after funding |
For a fuller method, see how to choose a trustee in Switzerland and the trustee due diligence questionnaire. Fees depend on the structure and are indicated after the confidential assessment; the fee models explained help you understand what to ask.
Example: one draft deed, two candidates
Illustration only: a settlor established in Lausanne has a draft deed prepared by a lawyer and two trustees on the shortlist.
The first candidate accepts the deed as drafted and moves quickly to funding. The second returns the deed with questions: the removal clause leaves the trustee's position unclear, the protector's veto is wider than the settlor intended, and the beneficiary class does not cover future grandchildren. The second process is slower and less comfortable, yet it gives the settlor a deed that works. The settlor can then decide on facts, not on speed.
What this service covers, and what it does not
The service shown on this page, trust structuring and establishment, runs from the first discussion of your objectives to the funding of the trust. It typically includes:
- a confidential discussion of your family situation, assets and goals;
- the choice of governing law together with specialist counsel;
- drafting of the trust deed and supporting documents;
- definition of the beneficiary class, current and future;
- selection of the form of trust: discretionary, fixed, revocable, irrevocable or company-based.
It is aimed at settlors setting up a trust for the first time, and at advisers acting for them. It does not cover tax advice for your country of residence, and it does not compare jurisdictions. Whether a given structure suits you depends on your residence, the location of the beneficiaries and the nature of the assets, which is why an individual analysis is needed. The confidential assessment lets you establish which form of trust fits, which documents are missing, and which decisions must be taken first.
Once the trust exists, the work shifts to day-to-day administration. If you are weighing the type of trust, see the trustee of a discretionary trust.
Frequently asked questions
When should I involve the trustee in a new trust?
As early as the draft deed. A trustee consulted after the deed is final can only accept or refuse it, whereas one consulted earlier can help make it administrable.
Can the trustee refuse to accept office?
Yes. Acceptance is a decision for the trustee, taken after onboarding and the deed review. A refusal at this stage is usually a sign that something needs to change.
Is there a Swiss-law trust I can use?
No. The project to create one was closed by Parliament, so a trust is formed under a foreign governing law and recognised in Switzerland through the Hague Convention.
Should I choose an individual or a corporate trustee?
It depends on continuity, cost of the structure and the complexity of the assets. See individual or corporate trustee for the factors to weigh.
Can I appoint a protector from the start?
Often yes, and it is common in discretionary trusts. The deed should state clearly what the protector may and may not do.
What does the trustee need from me?
Documents on your identity, the origin of the assets, the purpose of the trust and the intended beneficiaries. The exact list varies with your situation.
Sources
Considering a trust, or reviewing one?
Describe your situation in a few lines. A Geneva-based trustee reviews it in confidence and replies in writing.