Moving Property Overseas

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. As we will discuss, assets held in an overseas trust account-in a country with strict bank secrecy laws-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.