We aid our clients in the formation of different types of trusts in several jurisdictions. Trusts, especially Offshore Asset Protection Trusts, are ideal financial vehicles for asset protection and estate planning. They are also highly complex legal instruments for which the expert guidance of a competent asset protection attorney is a necessity.
What is a trust?
A trust is a legal agreement between three parties: the settlor, the trustee, and the beneficiaries. The settlor transfers assets/funds to the trust for the ultimate benefit of the beneficiaries. The assets are managed, safeguarded and distributed by the appointed trustee.
There are numerous types of trusts, each with their own structures, rules and characteristics. The asset protection trust (APT) is a special type of trust which allows the settlor to also be the sole beneficiary, whilst separating legal ownership of all assets which are transferred to the trust. These types of trusts, especially those which are in favourable offshore environments, have proven to offer the highest level of asset protection, along with other key benefits.
The benefits of an offshore asset protection trust
Here are some reasons why the formation of an offshore asset protection trust can help optimise your asset protection strategy:
- Offshore APT’s have shown time and again to be the most powerful way to legally protect your assets from creditors and lawsuits arising in your home country.
- Offshore APT’s can help to optimise your taxes if structured correctly in a favourable tax-neutral jurisdiction.
- Offshore APT’s are extremely effective estate planning tools due to the high level of asset security, tax efficiency, adaptability, and privacy offered for both the settlor and beneficiaries.
Trust formation services
Trusts are highly advantageous, yet notoriously complex legal instruments. We help our clients determine the best structure and location for the formation of their trust so as to optimise their benefits and reduce unnecessary costs. In the process of advising our clients, we will do a full assessment of their asset protection and estate planning needs and discuss the various best alternatives available. We ensure complete client confidentiality and privacy.
We will also help our clients in the formation process. This includes:
- Gathering and submitting all the required documents
- Submitting payment for the relevant registration fees
- Helping to appoint a reliable trustee
- Understanding the regulatory framework and ensuring that the trust is fully compliant and legally sound
Once the trust is established, we can provide ongoing counsel and legal support should any issues arise. We can assist with maintaining regulatory compliance, filing for taxes and exemptions, and other day-to-day requirements. We can also provide legal assistance in the unlikely case of creditor claims and lawsuits being made against the trust’s assets.