Tax Benefits of an Offshore Trust in the Cayman Islands

What are the Tax Benefits of an Offshore Trust in the Cayman Islands?

The Cayman Islands is an autonomous British Overseas Territory consisting of three islands  located to the south of Cuba. The main island, Grand Cayman, has long been recognized as an offshore tax-free jurisdiction. As one of the most popular tax haven countries in the world, it has been a desirable place to conduct business in for many years.  Although Cayman law has been derived from English common law, this jurisdiction […]

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What you need to know about tax planning with an offshore trust

What You Need to Know about Tax Planning with an Offshore Trust

Unlike a domestic trust, an offshore trust offers you full asset protection because your assets are no longer physically tied to the United States. Therefore, they are no longer under the legal jurisdiction of the United State court system. This is why your assets are protected from unexpected lawsuits and creditors. Properly implemented offshore trusts are tax-neutral. In other words, the jurisdiction where the trust is established should not impose […]

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Keeping your money in the United States can be a bad idea, here's why.

Keeping Your Money in The United States may not be the Best Choice

An offshore trust might be the best method of protecting assets you’ve worked so hard to achieve. With the various economic and political issues which can create some financial instability both at home and abroad, protecting your wealth against U.S. tax laws, from creditors and legal judgments becomes of tantamount importance. Keeping your money in the United States in an onshore trust may not be the best vehicle when it […]

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real estate asset protection attorney

Combine the Benefits of Estate and Asset Protection Planning

Estate planning is the process by which a person can plan for the management of their affairs and the transfer of their assets in anticipation of death or if they should become incapacitated. With estate planning, you want to make sure that your estate passes to the next generation with the least amount of taxes and administrative inconvenience.  Asset protection planning protects an individual’s assets and gifts to beneficiaries from […]

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Can a Foreign Trust Protect Against Lawsuits

Can a Foreign Trust Protect Against Lawsuits?

While most individuals take steps to ensure that their wealth is passed on to their heirs after death, many neglect to protect those same assets while still alive. The simple truth is that nefarious actions, such as frivolous lawsuits, can threaten your hard earned wealth and put your legacy in jeopardy.  That’s why asset protection planning is an important facet of comprehensive estate planning.  And an effective financial protection plan […]

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Are Offshore Trusts Structures Always More Protective?

Are Offshore Trust Structures Always More Protective?

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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Common Financial Planning Mistakes Made By HNWI

Avoid these Common Mistakes that even HNWI Make

Estate planning is a necessity whether your net worth is $200,000 or $10 million. However, it’s especially important for high net worth individuals as well as their families. Affluent individuals have many tools available to them when it comes to financial planning.  Whether it’s sheltering assets in well-designed trusts, charitable donation strategies in order to minimize taxes, or life insurance products that can help to protect and preserve their legacies […]

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What is the Private Retirement Trust

The Private Retirement Plan

A retirement trust offers protection for your retirement funds and your beneficiaries. For many individuals, a significant portion of their assets are part of a retirement account to which they have made contributions throughout their working years. Unfortunately, all of these retirement savings could be lost to a lawsuit or a creditor. However, California offers its residents a way to protect their assets — The Private Retirement Plan. The Private […]

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monopoly game millionaires

Signs that You are Addicted to Money

You usually associate the word addiction with drugs, alcohol or gambling. But it’s possible to become addicted to money. When you start using money to deal with your problems or become dependent upon it to get your thrills, then you have a problem. At that point, it doesn’t take long for things to get out of control, and the consequences can be devastating. A money addiction is a type of […]

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Wealth advantages and disadvantages

The Disadvantages of Being Wealthy

The media and popular culture are always promoting all the advantages of being wealthy. But what they don’t show are some of the disadvantages of being wealthy. While these disadvantages are certainly not the same as those that come with being impoverished, nevertheless, having a large amount of money or coming into a big inheritance is not without its drawbacks. It’s certainly true that no one would choose to be […]

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