Asset Protection - Offshore Trusts
Asset protection is the placement of assets in a secure holding structure to protect against future claims such as bankruptcy, judgment, creditors, and other litigants. When assets are transferred to a trustee, an offshore trust is created. He or she then becomes the legitimate owner and manages the assets. The trustee distributes the assets to the beneficiaries as per the terms of the deed. Assets such as shares and stocks in both quoted and unquoted companies can be held by a trust. Besides, investment portfolios and real and intellectual property rights can also be held by a trust. Bank deposits, life insurance policies are some of the other types of assets that a trustee can take charge of. A trust is the solution for those who want to preserve their wealth against uncertainty - political or economic and who want to transfer wealth, in a tax efficient manner.
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