Benefits of creating an International Trust for asset protection and succession purposes

INTERNATIONAL TRUST FORMATION

An international trust is an agreement between the person who orders its creation (the settlor) and its beneficiaries where the settlor sets how the assets of the trust will be distributed to the beneficiaries and / or managed by the Trustees.

Over the years we have been more and more involved in assisting international wealthy clients and /or organizations by providing tax structures which include international trusts which serve various objectives such as:

Characteristics

• A Trust Deed; is an agreement governing the trust which clearly specifies the rights, obligations, manner and procedures the trust will run
• Settlor is the person setting up the trust giving precise instructions to the trustees as to the running of the trust
• Trustees; are the persons given power by the settlor to run the trust according to the settlor wishes. They can be anyone legal or physical persons from accounting and audit firms to any physical person the settlor appoints. In most cases the trustees are licensed audit and assurance or legal firms which besides the duty of due care towards their client (settlor) the are legally responsible for the execution of the trust within requirements
• Beneficiaries; are the persons physical or legal who are the recipient of the Trust benefits and / or assets. They are the persons entitled to receive the benefits or assets in the manner specified in the trust deed
• A trust deed is filed depending on the profession of the trustee to their professional bodies and it is kept secured. Only with court order in extreme occasions where fraud is detected (which is extremely rare) can these professional bodies present the Trust as instructed by the courts
• Amongst other our firm offers discretionary trusts, fixed trusts & trading trusts