Search results
Results from the WOW.Com Content Network
In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and ...
A member of the People's United Party (PUP) he served two terms in the Belize National Assembly from 1989 to 1998 representing the Belize Rural South constituency. He was also Honorary Consul of Finland to Belize from 2002 to 2012. [1] He currently serves as the managing director of Glenn D. Godfrey & Co LLP. [2]
An asset protection trust protects your assets from creditors and lawsuits. These are typically irrevocable trusts, meaning once they’re established, you’ll no longer have control of the ...
In ten years, Belize has registered more than 15,000 IBCs. A Belizean IBC is a corporate vehicle for international financial transactions and allows the investor to engage in activities including asset protection, operating bank accounts, brokerage accounts, ship ownership, and commission arrangements.
Specifically, you'll want to look at a Medicaid Asset Protection Trust. As the name implies, it's an irrevocable trust designed to exclude assets from being counted toward Medicaid eligibility.
Spendthrift trusts include similar protections to an asset protection trust and are more widely respected in other states, but they also come with their own rules and requirements.
Asset protection planning requires a working knowledge of federal and state exemption laws, federal and state bankruptcy laws, federal and state tax laws, the comparative laws of many jurisdictions (onshore and offshore), choice of law principles, in addition to the laws of trusts, estates, corporations and business entities.
For premium support please call: 800-290-4726 more ways to reach us