Offshore Asset Protection Trusts
These are trusts that allow the settlor (asset doner) to be a beneficiary of the trust. Allows the asset donor to receive some or all of the trust payouts. Offshore ensures that assets can’t be reached by US creditors or courts.
Foundations provide asset protection on the same level as trusts except the foundation funder keeps control of the assets. Managed similar to corporation.
Cook Island Trusts
Know as the strongest offshore asset protection trust jurisdiction in the world. No Cook Islands Trust has ever been breached. Nevis trusts are as strong as Cook Islands but do not have a reputation for protecting ill-gotten funds.
Offshore Shell Companies
Companies established in tax haven jurisdictions that do not recognize US laws or judgements. Shells are most often used to store assets.
Trustees primary function is to protect the trust assets, carry out the instructions of the settlor (asset doner), and to distribute the assets and earnings to the trust beneficiaries.
The process of distributing assets as part of estate planning tax minimization plan that results in the asset owner having few if any assets to be distributed upon their death.
A trust that does not disclose its assets to some or all of its beneficiaries.
Offshore Holding Companies
A company established in a tax haven that can be utilized for commercial operations and holding assets. Jurisdictions selected have strong asset protection laws and privacy laws.
Individuals that act as a stand-in for shareholders, officers, directors, and agents for individuals who choose to remain private. Nominees are legal in most all jurisdictions. Most nominees sign undated resignations when hired.
Residence Equity Stripping
An effective method of protecting a residence from creditors by encumbering the homes equity with liens. An 80% first mortgage is the normal first step, followed by smaller liens used as collateral to assure performance.Need a sentence here describing this service.
Shares issued without a name on the share certificate. Bearer share are the same as currency in that the person who is in possession of bearer shares is the owner of the shares.
Real Estate Trusts
Trusts that hold real estate as the primary assets. These trusts are often revocable and don’t offer asset protection. Often used in estate planning.