Tax Implications for Offshore Trusts

By now, you are familiar with the key concepts underscoring the need for asset protection. You know that there are many entities and structures that can be used to strengthen your defenses against creditors' attacks or, even better, reduce the likelihood of claims being raised at all. Indeed, offshore entities can provide significantly greater deterrence to creditors than their domestic counterparts. However, there is one creditor whose claim to your assets cannot be deterred and is inevitable: the Internal Revenue Service (IRS).

And while you know that certain domestic asset protection entities come with tax savings or tax liabilities, you might be inclined to believe that offshore entities immunize your assets from tax cons...

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