About International Trusts
What is an international trust?
When discussing international financial planning for the U.S. taxpayer, it is essential to take into account the following information:
U.S. taxpayers/citizens are taxed on their worldwide income. This includes income from interest, dividends and investment gains whether earned or received domestically or internationally.
The U.S. government has agency task forces committed to the prevention of money laundering and tax evasion.
The U.S. government makes it clear that U.S. taxpayers must comply with all reporting and taxation demands.
The U.S. government permits assets to be invested internationally without restraint; however, U.S. taxpayers are required to fully disclose all asset transfers at the time of transfer.
The utilization of international trust can be a brilliant method for U.S. taxpayers to legally and securely protect their assets and themselves from litigation.
International trusts can offer individuals confidentiality, privacy and asset protection. If properly structured, international trusts can also offer financial protection from potential future claims.
There are a number of companies and individuals who make outrageous promises and claims in their promotions to offer international structures to U.S. taxpayers, which in fact amount to criminal tax evasion. The truth is, U.S. taxpayers are taxed on worldwide income.
International Trusts
International trusts are simply trusts domiciled in jurisdictions other than one's own country of citizenship. International Trusts allow grantors/settlors to benefit from more advantageous laws available in other jurisdictions. First Fidelity Trust gives you the opportunity to take advantage of Nevis law, which is specifically designed to protect assets held in trust.
Why would you use a trust?
There are many sound reasons why you might choose to use a trust, including:
- Asset Protection
- Estate Planning
- Preserving Family Wealth
- Business Continuation
- Confidentiality
- Tax Planning
- Avoiding Probate
Why choose First Fidelity Trust, Ltd.?
The First Fidelity Trust (FFT) Asset Protection Trust (APT) is inherently more protective and provides major advantages over U.S. domestic trusts. Unlike a U.S. domestic trust, an APT formed by FFT can maintain control over present and future ownership, while providing estate tax and probate cost savings. Perhaps the most important difference between an FFT trust and a U.S. Domestic Asset Protection Trust is that Nevis law allows the grantor/settlor to be a discretionary beneficiary of the trust (self-settled trust) without losing the ability to protect the trust assets. Although a few U.S. states have recently amended their trust statutes to allow self-settled trusts, there is little or no case law to support the U.S. Domestic Asset Protection Trust.
The FFT Asset Protection Trust provides exceptional peace of mind and financial privacy. Trusts accepted by FFT are registered in Nevis to offer the full protection of Nevis law. Nevis law permits the use of trust protectors and advisors who may be appointed to ensure that the trustee considers the wishes of the grantor/settlor. The protector, whom the grantor/settlor may appoint to oversee the trustee, can provide an additional safeguard to ensure that the grantor/settlor's preferences are followed.
FFT’s Managing Director is a trained litigator, admitted to practice in the United States as well as internationally. He has successfully defended trusts in foreign courts on behalf of clients in need of asset protection. As his profile attests, he is well qualified to advise on matters of asset protection, confidentiality and tax law. As an FFT client, you will have far greater access to the Managing Director of the Trustee than you would to a domestic trustee, assuring you of ample opportunities to convey preferences and express concerns.
