|
|
|
|
|
|
 |
 |
APT or Offshore Trust
The heart of the practice is domestic and international business transactions and disputes.
|
|
| |
For most purposes, an
Offshore Trust is like a
standard domestic trust
except that the trustee
is generally a trust
company whose business
is operated outside of
the United States. What
is significant is that
the trust company is
located in a foreign
country, so jurisdiction
is outside of U.S.
courts. Also, the
Offshore Trust takes
advantage of favorable
asset protection and
privacy laws which exist
in other parts of the
world.
Typically, the trustees
are given discretion to
accumulate or distribute
income among a specified
class of beneficiaries.
The settlor may be one
of the named
beneficiaries, together
with his (/her) spouse,
children, or
grandchildren. Also,
there is generally a
Protector, whose consent
is necessary for certain
activities. The term of
the trust may be limited
to a period of years, or
it may continue after
the settlor’s death.
One way to use an
Offshore Trust is to
transfer cash,
securities, or other
liquid assets to an
account established
under the name of the
trust at a bank of your
choice in a foreign
jurisdiction. The
Protector then advises
the trustees on the
manner in which the
funds are to be held or
invested. Income can be
distributed to the
beneficiaries or
accumulated in the
trust.
This arrangement
provides excellent
privacy and asset
protection. Assets held
in an overseas trust
account can be a
legitimate and powerful
legal strategy for
sophisticated
individuals who are
willing to tolerate some
degree of inconvenience
and additional expense
in order to achieve a
particular result.
|
|
|
| |
|
 |
|
| Quick Facts |
 |
 |
| |
Don't
be penny wise, pound
foolish. Have your
contracts
reviewed/drafted by an
HLA attorney.
|
Business transactions
are a delicate balance
of nurturing the deal
while protecting the
client's interests.
|
| |
|
|
 |
|
|
|
|
|
|
