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LAW OFFICES OF ROZSA GYENE
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ASSET PROTECTION
Asset protection planning is the adoption of advance planning techniques which place one’s assets beyond the reach of future potential creditors. It does not involve hiding assets, nor is it based upon secret agreements or fraudulent transfers. It is based upon proven sophisticated combinations of business and estate planning techniques. OFFSHORE TRUST An offshore trust is a trust formed under the laws of a jurisdiction outside of the United States. The property settled upon the offshore trust is held “in trust” by an offshore trustee. The offshore trust is the core of effective asset protection planning. Reasons to Protect Your Assets
Protect Your Home, Savings and Investments COOK ISLAND TRUST The Cook Islands is widely recognized as the leading asset protection jurisdiction for international trust structures and provides extremely favorable conditions for companies and foundations. Cook Islands offers the gold standard in asset protection. Clients seeking high-level protection in a politically stable but geographically remote jurisdiction should consider the Cook Islands as the ideal place for their trust. Advantages of Cook Islands • Assets settled into trust prior to cause of action are fully protected. • The international company formation products offer some of the best advantages for asset protection and wealth planning making it one of the most sought-after jurisdictions in the world. • Foreign judgments are not recognized. • Stable economic environment and political system and well-respected judiciary. • Trusts may be of perpetual duration. • Maximum confidentiality and robust privacy provisions which make it an offense to disclose the information on an international trust or company or the identify any of its officers. • Income generated from international trusts, international business corporations and limited liability companies is not subject to Cook Islands income tax. • Legislation excludes forced heirship laws. • Remote location can deter creditors. |
BAHAMAS ASSET PROTECTION TRUST
The Bahamas Asset Protection Trust enjoys the following benefits: • 100% Foreign: The trust’s settlor and beneficiaries can all be foreigners. • Asset Protection: The trust holds ownership of all assets on behalf of the beneficiaries. Bahamas laws protects the trusts from foreign court seizures. • Estate Planning: An ideal estate planning tool for global assets. • Perpetual Life: Bahamas trusts lives are indefinite. • No Taxes: Neither the trust or the beneficiaries are subject to taxation. However, U.S. residents and others subject to global income taxes must declare all income to their governments. • Privacy: Neither the settlor’s or the beneficiaries’ names are part of any public records. • Fast Formation: Trusts can be formed in one day. • English: The official language of the Bahamas is English. |