Controlling International Wealth

Lack of control is a concern that most Americans have when contemplating an international strategy but the fact remains that they have the same level of control that they would have under any domestic irrevocable trust—which is none. The benefits of any trust are dependent on a complete removal of control from the grantor and a trustee assuming full responsibility for all trust activities. A grantor that retains control jeopardizes protection.

Foreign trustees are carefully selected by a client and their legal counsel to meet a full set of criteria that fulfill the requirements of the law and the design of the trust. Our firm implements a number of strategies that maintain a safe distance from trust control by the grantor but also allow for safety mechanisms, such as making an international trust revocable until a specified event (like as a lawsuit) when the trust would automatically become irrevocable. Or, a LP can be owned by an international trust as its limited partner, enabling the grantor to be the general partner and stay in control of the partnership assets within the U.S. until a lawsuit, at which time partnership assets would be transferred to the trust. Alternatively, a grantor can be the managing director of an IBC (international business corporation) that is owned by the trust, enabling trust funds to be invested in the IBC under grantor control. These and many other practices make for a safe, secure and flexible offshore asset protection program that meets the requirements of all foreign and U.S. laws, under the watchful eye of a foreign trustee that is (most commonly) a chartered accountant with many references and a long reputation of representing American individuals and corporations.

CHOOSE THE RIGHT ASSET PROTECTION ATTORNEY!