Asset Protection Trust ("APTs") have the same fundamental framework of any trust, whereby an individual (the Settlor) gives assets to one or more trustees with intructions as to their use for the benefit of one or more persons (the Beneficiaries).
The key to APTs is that, having ceded ownership of the assets to be protected to the Trust, neither the Settlor nor the trustees should be compellable by a foreign Court or Government to divulge information concerning the trust, or, more importantly, to return the assets to the Settlor's jurisdiction of domicile.
TRUST STRUCTURE
The Trust should not be revocable during its life, its Trustee distributing capital and income to the Beneficiaries (perhaps including the Settlor) in their unfettered discretion.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
