If you are interested in protecting your assets, you may want to consider establishing an offshore trust. Offshore trusts allow you to transfer your property and assets into the trust and the trustee becomes the party responsible for managing the assets and distributing them to beneficiaries as set forth in the trust document.
Assets You Can Transfer Into an Offshore Trust
There are a wide variety of types of assets that can be held be an offshore trust, including:
- Funds deposited in bank accounts
- Real property
- Intellectual property
- Life insurance policies issued on your life
- Most other types of assets
Advantages of an offshore trust
Offshore trusts offer numerous benefits. They are an effective tool for wealth protection, they offer privacy, and they can be tailored to meet the specific needs of your family. Offshore trusts are recognized in most jurisdictions and they be an important tool in estate tax planning.
In determining if an offshore trust is the best solution for you, we can review your individual circumstances and help you understand all of your options. In general, an offshore trust benefits individuals who want to protect their wealth against uncertainty in the economy or within their own family. It can help you distribute your property and assets to your heirs in a tax-efficient manner and in a way that minimizes estate taxes. An offshore trust also allows you to consolidate the ownership of assets that may be located in a variety of locations (including on different continents) in one place.
The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698.