The Trusts (Guernsey) Law 1989 modernized Guernsey trust law and specifically authorized the use of spendthrift trusts and protectors. The legislature was recently presented with a modern fraudulent conveyance act, The Rights of Creditors (Guernsey) Law, 1992 which has not been enacted. Guernsey is a popular jurisdiction well served by the banking community with over Pounds 18 billion of deposits.

Guernsey has an independent organization on the island known as the Financial Services Commission which exercises great influence. This organization is headed by Mr. John Roper. He recently gave an interview in which he made it clear that "he is keen to avoid the prospect of a U.S. judge hearing a court case and frowning when Guernsey is mentioned as 'one of those places' - some form of shady tax haven. He has sent a clear message recently that asset protection trusts should not be encouraged on the island...."