Foreign Trusts

There are some foreign jurisdictions that make it very difficult, and more likely impossible, to enforce U.S. judgments. Such places may include Cayman Islands, Bahamas, Belize, Nevis, Mauritius, the Isle of Man and the Cook Islands. In such trusts the settlor is allowed to be the sole beneficiary of the trust. In domestic asset protection trusts the settlor may not be the sole beneficiary. Considering the costs of setting up a foreign asset protection trust and the ongoing administrative costs, the assets sought to be protected must be “substantial”. A detailed discussion of the mechanics of these trusts is beyond the scope of coverage of this web site. If interested, please contact me directly.