What are some popular uses of a Belize Trust?:
- Asset Protection: Belize court cannot entertain any claim against the trust property emanating from the order of a foreign court regarding marriage, divorce, succession or creditors claims. It is a fact that no Belize Trust has ever been compromised, and there is even a decision of the Supreme Court of Belize on this point. The Belize Trust has successfully been used to shield assets despite foreign laws relating to fraudulent transfers, bankruptcies or reciprocal enforcement of judgments.
- Estate Planning: By utilizing an offshore trust structure the settlor is able to pass along assets to heirs in an environment that is free of inheritance taxes, or forced heirship laws. In addition, if one is concerned that a child may squander the inheritance, controls may be placed on the beneficiaries’ access to the trust assets by implementing a spendthrift or protective trust.
- Tax Planning: With proper input from onshore and offshore tax professionals, it is possible to arrange the clients affairs so as to legally reduce his/her tax burden by transferring assets to the offshore trust.
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