October 29, 2001 By: Sharon Preston Website: http://www.need-to-know-finances.com The advantages of offshore trusts Many people feel that only the wealthy can truly benefit from using offshore trusts, however that is simply not true. Almost anyone with a few assets worth protecting can afford to go offshore. Offshore trusts allow you to put the legal title to your property in the name of your trustee for the use of the named beneficiary. The advantages are numerous. First off, you can save, avoid and defer many taxes using offshore trusts. You don't owe tax until such time as you repatriate your assets whether cash or otherwise. Any asset can be designated trust property. Naturally if the trust is in a tax-free jurisdiction, then the assets will accumulate wealth faster without being subject to any taxes. Secondly, any assets are protected against any lien, levy or judgement from any creditors or government agencies. Especially if the trustee is in some foreign jurisdiction where they are legislated not to comply with foreign demands or requests. The trustees are only obliged to look out for the good of the beneficiary. Naturally using offshore trusts provide you with a sense of security should some form of disaster hit you in your domestic financial life. Thirdly, the trust deed is a secret document and is known only to the parties involved. No information whatsoever on the contents of the trust deed is available to any external inquisitors. Confidentiality is guaranteed. Lastly, offshore trusts provide an ease of transfer of property to heirs and beneficiaries that cannot be provided by a will, living trust or domestic trust. These latter forms will undoubtedly pay taxes on the property. In an environment where privacy, inalienable rights and prosperity are being eroded quickly offshore trusts; are one of the most flexible financial vehicles to ever come about. It is how the wealthy just keep on getting wealthy. Its history proves it! Click here for more information on Offshore Trusts or to choose from a variety of related products and services. About The Author: Sharon Preston is a successful author and publisher of http://www.need-to-know-finances.com.  A one stop resource featuring information, reviews and articles related to the offshore arena.

 

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