Find Out How Key Estate Planning Tools are Drafted and Implemented. Every client’s estate is unique in its assets composition, family dynamics and future needs, but all are ruled by the same principles and are subject to the same tax and legal limitations. In this comprehensive legal guide, experienced attorney faculty will guide you through […]
Tag: offshore trusts
A recent ICIJ report details the abuse of offshore trusts and accounts for tax evasion and money laundering. The report serves as a reminder that there are significant risks associated with improper planning and dealing with inexperienced planners. We have identified six lessons that the report provides on dealing with offshore trusts and accounts.
This article will focus on just what the title indicates: how and why offshore trusts are used in asset protection planning. The article will review certain aspects of domestic law which limit the ability of a domestic trust to provide meaningful asset protection, and will compare those laws with the laws of certain offshore jurisdictions which address the same issues in a different way, with vastly different results. In addition, the article will highlight selected trust clauses which can enhance the protection afforded by careful selection of a situs jurisdiction.