Citywealth Forum 2025 speaker spotlight: David Stewart

Date: 04 Jun 2025

Karen Jones

Managing Director of Coriats Trust Company, on Trusts, Divorce and Asset Protection.

Family Law & Trusts Panel 

At this year’s Citywealth Forum, David Stewart, Managing Director of Coriats Trust Company in the Turks and Caicos Islands, cut through legal complexity with the authority of someone who’s been in the trenches for over 30 years. Speaking on a panel about the intersection of family law and trust structures, Stewart offered practical advice, cautionary tales and a steady reminder: trusts are only as strong as the thinking behind them. 

Educated at Repton and York and called as a solicitor in the UK in 1989 and to the Bar in in  TCI in 1990 , Stewart now leads a 45-year-old fiduciary business known for its discretion and depth. That gravitas showed through on stage, particularly as discussion turned to how trusts can (and can’t) protect assets during divorce or creditor action. 

Strategy Over Structure 

One of Stewart’s core messages was that jurisdiction matters; but strategy matters more. Courts in England, he explained, are increasingly willing to treat trust assets as part of the matrimonial pot, particularly if the trust lacks independent oversight or clear documentation. “You can have the best structure in the world,” he said, “but if the court thinks you’re playing games, it won’t end well.” 

By contrast, ‘firewall’ jurisdictions like the Turks and Caicos and Cayman Islands place limits on foreign court interference. But even here, enforcement risks and reputational considerations demand careful, proactive trustee engagement. 

Trustees in the Firing Line 

Stewart was candid about the role trustees play in these disputes. He recommends appearing in court when appropriate, not to submit to jurisdiction, but to demonstrate clarity and integrity. “Judges notice who shows up,” he said, drawing from experience where trustee testimony helped sway outcomes and reduce court suspicion. 

He also warned against late-stage manoeuvres. One of the cases discussed involved a last-minute attempt to shift assets between trusts mid-divorce, a move quickly dismantled in court. “It raised more questions than it answered,” Stewart noted. “And it damaged the client’s position.” 

Transparency Is Not a Weakness 

On prenups and postnups, Stewart argued for full and early disclosure of trust interests. “You don’t want a battle over what was hidden,  you want a conversation about what’s fair,” he said. This transparency, combined with strong drafting and updated trustee records, gives courts less reason to intervene and more reason to respect the structure. 

Getting Ahead of the Fight 

Finally, Stewart spoke to the emotional weight of family disputes and how trustees can help lower the temperature. By engaging early in financial dispute resolution processes, he said, trustees can reduce suspicion, avoid litigation, and often help both parties reach agreement without going to war. 

Takeaways from the session: 

• Jurisdiction sets the rules, but strategy sets the tone — especially when dealing with English courts vs. firewall jurisdictions. 
• Trustees should engage constructively, without submitting to jurisdiction, to preserve credibility. 
• Transparency builds legal resilience, particularly in prenup/post-nup agreements. 
• Avoid sudden structural changes mid-dispute — they rarely work and often backfire. 
• Trustees are not bystanders — early involvement in dispute resolution can protect both the trust and the client. 

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View the Work in Progress 2026 Agenda here.

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