October 29, 2001 By: Sharon Preston Website: http://www.need-to-know-finances.com A multitude of international trusts available, which one is best for you? There is a huge array of international trusts available that all accomplish various goals. So that we are all familiar with the terms, lets define the components of a trust. A Trust is a concept that was created and has developed as a way to separate legal ownership from beneficial ownership. There are four main components in "international trusts”. They are as follows: the Settler (person who creates the trust), the Trustee (person who holds title for the benefit of another), the Beneficiary (person who benefits from the Trust) and the Trust Asset (property held by the Trust). Depending on your goals, here a few of the common international trusts. The Asset Protection Trust grants the Settler and the Beneficiary with protection against any creditors. It is essential that this particular Trust be established in a location where they have the appropriate legislation. A Discretionary Trust allows the Trustee to distribute the income/capital of the Trust to the Beneficiary because the interest is not fixed. Contrary to a Non-Discretionary Trust which has a fixed interest and therefore the Trustee does not have the discretion to distribute the income/capital. Many other types of international trusts are a Protective Trust that provides income to someone suffering from a disability, a Charitable Trust where the beneficiary is a charity, a Revocable Trust where the Settler has the right to revoke the Trust and the assets return to his/her possession and finally a Irrevocable Trust where the Settler has no ability to transfer the property back to him/herself. Many options, but not all are necessarily desired for your offshore situation. Educate yourself to establish what you need. Click here for more information on International 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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