After you retire, asset preservation becomes a high priority for you and you might consider offshore finances to avoid legal hassles. Plus, offshore finances can be a great option for investing in international markets without restrictions. Offshore finances are usually associated with formations including offshore trusts, offshore foundations, and offshore companies, which in turn may provide some kind of benefits in the form of tax as well as asset protection. If you are looking for the most sensible offshore investment solution for your retirement savings you need to consider finding a safe, or still better, set up an A/B trust.
Why should I invest in offshore finances?
An Offshore Asset Protection Trust is any trust that is located in any country outside of the country of residence. With an offshore trust, you can keep the following confidential:
- Existence of the trust
- Terms and provisions of the trust
- Location of the assets of the trust
- Value of the assets of the trust
- Nature of the assets of the trust
- Identity of the trustee
- Activities of the trustee
- Identity of the settlor
- Identity of the beneficiaries
- Identity, nature and function of any ancillary entities related with the trust
- Financial, bank statements and other books and records of the trust
Other benefits of an offshore trust are:
- Assets are safeguarded and protected from creditors and legal judgments. If a creditor decided to pursue your assets held in an Offshore Trust Fund, then they would be forced to initiate expensive legal proceedings in the Offshore Trust Jurisdiction .
- Almost any type of asset can be transferred into it. This includes cash, property, securities, businesses and even art and gold.
- Some Offshore Trust jurisdictions have incredibly strong legislation guarding the assets of the offshore trust fund beneficiary. There are certain jurisdictions where the statute of limitations for fraudulent transfers into an offshore trust is just one year. This means that even in the event of a court ruling against you, your assets could still be safeguarded, even after a questionable transfer.
- Favorable trust laws enable the continuation of trusts so that several generations of lineal descendants can be benefited. This way, you can also escape the U.S. estate and generation-skipping transfer taxes.