The offshore trust is one of the best asset protection tools around. Our trusts are US Grantor Trusts and as such, you are not required to go through the complicated reporting requirements that are necessary for many other kinds of offshore trusts. Also, since our trusts are grantor trusts and do not start out as irrevocable trusts you do not have to worry about gift tax consequences when your assets are placed in the trusts. Be wary of many of the offshore trusts schemes, as a gift tax of 35% may have to be paid to the IRS. The trust can have a trust company, individual or private IBC as the trustee.
Be 99.9% judgement proof with an offshore trust |
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The trust can also have all of the US estate tax provisions, such as A and B trusts and beneficiaries that a domestic trust has. Since the trust is in another jurisdiction, the US courts cannot order the trustee (who is not you) to bring back the assets. Thus your assets are safe and secure.
We use Nevis as a preferred trust jurisdiction. The have superior laws at a very affordable price. The laws of Nevis are a very close copy of the laws of The Cook Islands. In addition, the Nevis Trust Laws require that any plaintiff post a $25,000 bond before they can commence legal action against your trust. Nevis trusts receive a certificate showing the date formed and the name of the trust. This shows proof of formation and allows the trust to benefit from the favorable trust laws of Nevis. If you desire to use a Nevis IBC as the trustee, like most of our clients, it will allow you to continue to maintain a degree of control over your trust. Call us for more information on this. The chart shown above is a common set up that our clients prefer to use. Many attorney's claim that if you want to be 99.9% judgment proof, then an offshore trust is the way to go.The Best Way to Integrate Your Offshore and Domestic Plan Might be as Follows
With this plan you can truly sleep well at night. Nevis has among the best trust laws in the world. In fact, if someone wants to attack your trust in Nevis, they have to post a $25,000 bond. The plan allows you to control your own trustee so that you do not have to rely on an unknown third party. With the offshore trust owning the domestic LLC and FLP's you are 99.9% judgment proof. Clients who have this set up have not had to worry about losing their assets in a lawsuit. This structure is just too strong and attorneys give up and look for easier prey. This is one of the major tenants of asset protection. Look strong and impenetrable and those who seek to take your assets from you will not bother with you.
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