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Asset Protection Using Offshore Banks in Multiple JurisdictionsComparison of Offshore Banking JurisdictionsOffshore Banking Money TrailAsset Protection Using Offshore Banks in Multiple JurisdictionsAsset Protection Using Offshore Banks in Multiple JurisdictionsAsset Protection Using Offshore Banks in Multiple JurisdictionsWhat is a Qualified Intermediary?FDIC Admits Emergency Bailout May Be NecessarySecond Passport and Second Citizenship ProgramsForex Trading Business Bank Account: Panama and Ecuador Weakest and Strongest USA Banks & Thrifts 08/11/08FDIC Facts and Figures – Not Encouraging 08/14/08Ecuador Trust Account BankingOffshore Banking Money TrailAnonymous No-Name Debit ATM CardAsset Protection Using Offshore Banks in Multiple JurisdictionsComparison of Offshore Banking JurisdictionsPanama New Immigration Law: Effective 8/26/08One Compelling Argument to Move Assets Offshore – LawsuitsUBS Swiss Bank Closing Accounts of AmericansWhat is a Qualified Intermediary?Second Passport and Second Citizenship ProgramsPanama New Immigration Law: Effective 8/26/08Panama New Immigration Law: Effective 8/26/08Second Passport and Second Citizenship ProgramsWhy Choose Guatemala?Ecuador BankingEcuador Bank AccountEcuador Trust Account BankingForex Trading Business Bank Account: Panama and Ecuador Ecuador Country ProfileOffshore Banking Money TrailFDIC Admits Emergency Bailout May Be NecessaryWhat Will You Do if the FDIC Fails?FDIC Facts and Figures – Not Encouraging 08/14/08Need an Economic Reason to Leave the USAUS Banks Fail, Depositors Take LossesUBS Swiss Bank Closing Accounts of Americans
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Introduction to Offshore Trusts – A trust agreement is a written agreement between the client known as the Trustee and the law firm, known as the Trustor. The Trustor manages the assets according to the intents, wishes and highly specific instruction of the trustee. The Trustee would not be the signatory on any bank account or stock brokerage account; only the trustor name would appear in any bank records or stock brokerage records.
Distress Clause – Previous to 9/11 one could have an account at an offshore bank with a "Guillotine Clause". If there were any inquiries ever made regarding any such account(s) the bank had standing wire instructions to immediately wire out all the funds according to the standing wire instructions. The funds would then go to another offshore bank in another country. From there the person could move the funds again to make sure they were safe and sound from any legal entanglements, confiscation efforts etc. Such standing wiring instructions left with the bank were called a "Guillotine Clause" and became illegal for a bank to use after 9/11. Note a Guillotine Clause is illegal for the bank to implement, not the lawyer who is the Trustor. If the Trustor feels that you and/or your assets that he is entrusted with are in danger or at risk he may take steps to keep them safe according to instructions and methods that you previously agree to in writing as part of the Trust Agreement. Of course such clauses are always optional, but they do make sense to include them in the Trust Agreement.
Making the Trustor aware of the danger or distress can be accomplished in several ways. You and/or a list of trusted persons can contact the Trustor and so inform him of the risk with whatever documentation can be made available. One condition is the Trustor can be receiving inquiries regarding the assets. The bank and stockbroker may make the Trustor aware that they are receiving inquiries regarding the accounts or persons. The distress of the client that meets the specific guidelines for distress could also be in the public domain like the news. You could empower the Trustor to remove the assets from any control you might be able to exert of the assets until the distress is gone. The Trustor could also be directed to relocate the assets to another jurisdiction in the event of distress situation. You can define what is a distress situation. This could avoid being compelled by some court in a privacy invasive county ordering you to return your assets to the jurisdiction of the court so it can be confiscated by the court with or without due process. This process is often referred to as repatriation of assets. If you state you do not have any control over such assets and cannot do as requested it should be up to the other side to prove that you do have the control and of course this is not going to happen. If you asked us to send a response to the court in question very tactfully explaining that it is not possible for the Trustee (you) to respond to this request. This is plausible deniability. Judges anywhere are not very fond of playing collection agent and prefer to let the lawyers have a judgment and it is up to them to collect.
Guatemala – We set these trusts up in Guatemala with our affiliate law firm. We generally use an Asset Protection Corporation as part of the structure. Inquire for more details.
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