The Trust: Asset Protection and Estate Planning
In the world of international tax planning, the trust formation is popular. A trust offers the possibility to separate your business assets from your private assets, and have those assets managed on behalf of a beneficiary or charity.
When you decide to set up a trust, you can benefit from all the features of this asset protection
tool and the jurisdiction that it is in. You will be able to allocate your funds and assets according to your wishes
What is it?
In common law legal systems, a trust is a relationship whereby assets (real or personal, tangible or intangible) are held by one party for the benefit of another.
A trust is created by a settlor who transfers some or all of his property to a trustee, who holds those trust assets for the benefit of the beneficiaries. The trustee owes a fiduciary duty to the beneficiaries, who are the “beneficial” owners of the trust property. There may be a single beneficiary or multiple beneficiaries. The settlor may himself be a beneficiary. A trustee can be a natural person, or an artificial person.
What are the benefits of a Trust?
One of the benefits of a trust is that the with the transfer of the assets to a trust, the assets and possible future returns become subject to the legal and tax regime of the jurisdiction where the trust is located.
A trust can govern your estate for up to one hundred years, and within this timeframe all involved, including banks, are subjected to strict secrecy laws.
What are the main types of Trusts available?
There are four common types of trusts:
Private trusts: set for private individuals and their estate
Corporate trusts: Including pensions and employee benefit trust
Charitable trusts: Set up exclusively for the benefit of charitable organizations
Purpose trusts: trusts that are designed for a specific reason
Examples of how you can benefit from a Trust:
Protect your private fortune from unrighteous claims
Manage profits and pension funds
Manage how your heritage will be spent
Shield yourself from excessive taxation
What Freemont can do for you besides incorporating your Trust?
Freemont Group is equipped to provide a full service together with ancilliary services. We can provide trustees as well as protectors as well administering the Trust on your behalf. Furthermore, we can provide all major ancilliary services such as accounting, bank account opening and administration, HR services, and sound advice on all issue that may come across in your path.
We are here to assist you in order to ensure your peace of mind and help you focus on your pressing business issues.
to learn more...
Ultimate asset protection with the Cyprus International Trust
How can you Control a Trust
? The benefits and downsides of tightly managing a trust