Proper offshore banking and overseas bank accounts are one of the keys to financial freedom and asset protection strategies for individuals and business owners. One of the main goals of using an offshore entity is Asset Protection as well as general international business. By using an IBC in conjunction with a bank account as well as a trust if required, asset protection can be achieved.
Integrated and Domestic Asset Protection Trust (IAPT)
IAPT can be termed as a hybrid trust that amalgamates the advantages of a local revocable trust with the wealth and asset protection of an offshore trust at the times of subjective needs.
An IAPT is the ultimate asset protection tool for American clients. It allows you to maintain domestic status unless there is serious lawsuit which threatens to encumber financial assets in a judgment. At that time, the trust is then moved to an offshore jurisdiction where the US court system has no authority. The main features of IAPT are:
- International Asset Protection Trust has a U. S. Managing Trustee.
- IAPT has an offshore Custodian Trustee or Standby Trustee.
- IAPT also has a U.S. Protector.
- IAPT must have a foreign registration in an asset protection county.
- In an IAPT it is needed that you state noticeably in the trust document that the trust is a U.S. Grantor Trust for tax purposes.
As long as it is business as usual, the living trust stays domiciled in the US, but if the time comes where it becomes necessary to protect your wealth, there is a discretionary mechanism that allows the already appointed foreign trustee to assume the managing trustee duties and the trust becomes managed offshore where it was previously registered. It creates a significant roadblock to any creditor as it means any litigation must take place in the home country where the trust is registered.
In many countries, a bond is required in order to file a lawsuit. By naming your existing living trust (or we can create one for you) as the beneficiary of the IAPT, this creates an additional layer of protection and allows your heirs to avoid probate upon your death. This can save your family time and money to sort your family’s affairs.
Curious to get your wealth protected against any kind of foreseen as well as unforeseen calamities?
With methodical planning and inherent business acumen, Global Wealth Protection has developed international expertise that serves its clients for management of integrated and Domestic asset protection. This service renders comprehensive benefits to its domestic as well as international client-base.
- For foreign as well as domestic asset protection, estate planning, offshore company jurisdictions in multiple places
- Organization of family partnerships and limited liability companies under the relevant laws and jurisdictions
- Setting up of Intentional Defective Grant or trusts
- Wealth protection through discretionary mechanism
- Removing of any minor to major roadblocks that businessmen or investors may be facing while parking their wealth
- Creation of added a layer of immunity against probate after death
- Saving of huge amount of time, money and energy
Why Global Wealth Protection?
Global Wealth Protection, through its effective asset protection solutions, strives to understand their client’s financial portfolio and then offer subjective solutions to their every problem. Our IAPT services include:
- One year of consulting from our team of experts
- Preparation and filing of the IAPT documents
- Appointment of your foreign trustee
- One year registration fees
- A deluxe binder with all enclosed documents
- Preparation and creation of Living Trusts (optional)
- Offshore bank account setup
- On-going consultation
Global Wealth Protection handles asset protection and enables wealth preservation in the most suitable way. Apart from offering subjective and customized financial solutions, we also save your wealth from internal attacks from lawyers, middlemen, mediators, liaison officer, attorneys etc. We work very hard to preserve our clients’ asset, their hard earned money.
So, what are you waiting for? Let us help you establish your IAPT today.
For more details, do not hesitate to contact us.