International Trusts
Why an International Trust?
The characteristics of an international trust are similar to those of a domestic trust:
- Asset Protection
- Estate Planning
- Preserving Family Wealth
- Business Continuation
- Tax Planning
- Avoiding Probate
- More Control over Trust Features
- Improved Investment Diversification
- Increased Flexibility
- Privacy and confidentiality are the principal reasons for establishing an international trust
International trusts are simply trusts domiciled in jurisdictions other than one’s own country of citizenship. International trusts allow grantors/settlors to benefit from more advantageous laws established in other jurisdictions. Swiss Caribbean Trust gives you the opportunity to take advantage of Anguillan law, which is specifically designed to protect assets held in trust.
International trusts have unfortunately been regarded as a means to conceal assets and viewed as a means of illegally avoiding taxes. In fact, international trusts have a long history of protecting assets and enforcing the wishes of the grantor while remaining fully compliant. Additionally, an international trust provides a diversity of legitimate asset protection.
An International Asset Protection trust effectively safeguards the grantor from frivolous lawsuits creating an ideal asset protection vehicle for professionals apprehensive about malpractice exposure or business owners worried about excessive liability for the actions of their employees. Contrary to popular belief, this is not a means of fraudulently hiding assets from legitimate creditors. However, it can be a deterrent and obstruction to a potentially harmful monetary judgment.
When choosing to set up an international trust, the first priority should be selecting a competent trust company with U.S. tax law experience. SCT’s knowledge and competent staff can effectively set up a trust structure that provides asset protection and insulates the beneficiaries from the actions of others. SCT operates under strict laws and exceeds the obligations and standards of most U.S. trust companies.
When developing financial plans for the U.S taxpayer, it is essential to take into account the following information:
U.S. taxpayers/citizens are taxed on their worldwide income. This includes income from interest, dividends and investment gains whether earned or received domestically or internationally.
The U.S. government has agency task forces committed to the prevention of money laundering and tax evasion.
The U.S. government makes it clear that U.S. taxpayers must comply with all reporting and taxation demands.
The U.S. government permits assets to be invested internationally without restraint; however, U.S. taxpayers are required to fully disclose all asset transfers at the time of transfer.
The utilization of international trusts can be a brilliant method for U.S. taxpayers to legally and securely protect their assets and themselves from litigation.
International trusts can offer individuals confidentiality, privacy and asset protection. If properly structured, international trusts can also offer financial protection from potential future claims.
There are a number of companies and individuals who make outrageous promises and claims in their promotions to offer international structures to U.S. taxpayers, which in fact amount to criminal tax evasion. The truth is, U.S. taxpayers are taxed on worldwide income.
Why Choose Swiss Caribbean Trust, Ltd.?
The Swiss Caribbean Trust (SCT) Asset Protection Trust provides exceptional peace of mind and financial privacy. Trusts accepted by SCT are registered in Anguilla to offer the full protection of Anguillan law. As an Overseas Protectorate, Anguilla enjoys the full backing of the United Kingdom. Anguillan law permits the use of trust protectors and advisors who may be appointed to ensure that the trustee considers the wishes of the grantor/settlor. The protector, whom the grantor/settlor may appoint to oversee the trustee, can provide an additional safeguard to ensure that the grantor/settlor's preferences are followed.
The Swiss Caribbean Trust Asset Protection Trust is inherently more protective and provides major advantages over U.S. domestic trusts. Unlike a U.S. domestic trust, an Asset Protection Trust formed by SCT can maintain control over present and future ownership while providing estate tax and probate cost savings.
Perhaps the most important difference between an SCT trust and a U.S. Domestic Asset Protection Trust is that Anguillan law allows the grantor/settlor to be a discretionary beneficiary of the trust (self-settled trust) without losing the ability to protect the trust assets. Although a few U.S. states have recently amended their trust statutes to allow self-settled trusts, there is little or no case law to support the U.S. Domestic Asset Protection Trust