Why leave things on risk?

High net worth people are at risk from being sued by a third party for a variety of reasons including negligence, malpractice etc. It only takes one legal action to be successful, even just partially, and you risk losing some or all of your assets. The answer is to arrange your affairs in such a way that your assets are not exposed to such risk. One good solution is the setup of a Trust because in this way it can take ownership of the assets away from you personally.

Trusts

• setup in an offshore jurisdiction
• you as the Settlor of the trust
• sell assets to the trust
• trust becomes legal owner
• no longer your liability
• retain control as Settlor of the trust

Fraudulent transfer laws

• transfer pricing considerations
• asset shifting within 10 year period

Foreign trust protector services

• trust requires Trustee e.g. lawyer
• trustee is effectively your nominee