Using trusts for asset protection is a common practice among the wealthy. But it can be difficult to determine what type of trust offers more protection. Trusts within the United States are called domestic trusts, while trusts that operate outside of domestic jurisdiction are referred to as offshore trusts. Trusts must abide by the regulations of the country they are in. Therefore, domestic trusts are subject to United States law […]
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Ours has become an increasingly litigious society. Therefore, it’s become increasingly important for wealthy individuals to take some type of action in order to protect their assets from unexpected lawsuits and the claims of creditors. Many financial experts offer asset protection trusts as the best legal vehicle for shielding valuable assets. Asset protection trusts allow creditors to reach a settlement with their respective debtors on more favorable terms, therefore avoiding […]
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Many people looking for a way to protect their assets are asking, “what is an offshore trust and how does it work?” An offshore trust is a trust that a settlor establishes in a jurisdiction that is different from the one in which they live. An offshore trust can be located in any country as long as that jurisdiction recognizes the legal concept of a trust. But only a few […]
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