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Chartered Wealth Manager Course Presentation OFFSHORE ASSET PROTECTION TRUSTS January 2729, 2006 Ashford Suites, High Point, CBJ. Richard Duke, Esq. Attorney and Professor of Law Duke Law Firm, P.C. 400
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Offshore asset protection trusts are legal arrangements designed to protect assets from creditors or legal claims by transferring them to a trust located in a foreign jurisdiction.
Individuals or entities looking to protect their assets from potential legal claims or creditors may consider setting up offshore asset protection trusts.
Offshore asset protection trusts can be set up with the help of legal professionals specializing in trust and estate planning. The process involves creating the trust document, selecting trustees, and transferring assets to the trust.
The purpose of offshore asset protection trusts is to safeguard assets from potential legal threats, such as lawsuits or creditor claims, and to potentially reduce tax liabilities.
The specifics of information required to be reported on offshore asset protection trusts may vary by jurisdiction, but typically include details about the trust assets, beneficiaries, and trustees.
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