USE OF FOREIGN TRUSTS FOR ASSET PROTECTION

Kehr Law offers free consultations
for your financial and asset protection needs.

Phone: (619) 400-4942
Text Message: (619) 823-8230
Email: dan@kehrlaw.com

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San Diego Attorneys for International Asset Protection Trusts:

Because foreign trusts no longer provide tax relief in most situations involving U.S. grantors and beneficiaries, their utility is to be found in such special situations as foreign grantor trusts with a foreign grantor, testamentary foreign trusts, pre-immigration foreign trusts for incoming aliens, special-situation foreign trusts to accommodate tax write-offs, and net operating loss carry-forwards and foreign-asset protection (or asset preservation) trusts (APTs).

Anyone who has accumulated substantial assets that are subject to liability in a lawsuit is a potential candidate for an asset protection trust. For example— (1) a surgeon, attorney, architect, or other professional who is vulnerable to a malpractice suit and who may not be able to obtain or afford suitable malpractice insurance; (2) the director of a company in a highly regulated field (e.g., the production of nuclear energy); (3) entrepreneurs who are cashing out of their business at substantial gains; and (4) high net-worth individuals ($100,000 in liquid assets), including parents who want to preserve assets during the course of a long-term gift-giving program or in the event of a child’s divorce.

Several foreign jurisdictions—the Cook Islands, Nevis, Bermuda, the Bahamas, Belize, the Cayman Islands, Cyprus, Gibraltar, the Turks and Caicos Islands—have enacted specific laws that are notably debtor-friendly to encourage the use of asset protection trusts in their respective jurisdictions. Other countries, such as Barbados, may do likewise. The Isle of Man, however, does not afford foreign trusts statutory protection from fraudulent conveyance claims by creditors of the grantor.

We here at Kehr Law work with and recommend using the Cook Islands or Nevis as the jurisdiction of choice since their laws are most similar to those in the United States and they provide, in our opinion, the best protection for client’s who have greater than $100,000.00 in liquid assets.  The Cook Islands is recognized as the world leader in formation of asset protection trusts, safeguarding the assets of high net worth clients. Cook Islands law contains a number of unique features that make the operation of an asset protection trust administratively friendly and highly protective.

In this volatile and unpredictable economy, asset protection has become a significant issue for almost every family.  People want to protect their cash and assets more now than ever.  We can help you set up an asset protection structure that addresses your concerns and brings you peace of mind.  An asset protection plan needs to not only be properly designed but properly implemented as well.  Like a living trust, an asset protection structure will provide little benefit, unless it is structured and funded properly.  No matter what type of asset protection structure or vehicle we use to protect your hard earned money, we will provide you with certainty and a plan that exceeds your expectations.

We work with  trusted fiduciaries, banks and trustees in these jurisdictions and can help you establish not only a wonderful tax deductible vacation to a warm and tropical destination every year, but also customize your asset protection trust to provide you with maximum flexibility while minimizing your risks and liabilities.

Kehr Law offers free consultations for your financial and asset protection needs.

Read About Our Other Areas of Practice:

Kehr Law focuses on the formation and representation of businesses, corporations, limited liability companies, partnerships and joint business ventures; property and investment transactions; trademark and copyright law; business and individual tax planning; domestic and international contracts; corporate finance transactions and corporate mergers, acquisitions and reorganizations. We also provide real estate litigation legal services involving both residential, commercial and land disputes, broker liability, landlord-tenant matters, unlawful-detainers, premises liability, toxic tort defense and related insurance coverage analysis. Moreover, we provide probate and trust administration legal services. In addition to personal domestic and international asset protection, we also focus on estate and tax planning to provide our clients with a single, complete and comprehensive legal resource.

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