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Trusts for Asset Protection and Succession Planning
We help you build a trust structure for your assets and business and for passing them to the next generation. The trust itself is set up and administered through a licensed trustee in the chosen jurisdiction.
A trust for asset protection is a contractual arrangement in which the owner of assets (the settlor) transfers them to a trustee, who manages them for the benefit of the beneficiaries. Most people use a trust for one of two goals. The first is succession: deciding in advance who receives the business and property, and on what terms, without lengthy inheritance procedures in several countries. The second is asset protection: separating assets from the owner's personal risks, provided the structure is set up in good faith and in good time.
A trust is not a legal entity and not a way to hide assets. The trustee must be licensed in its jurisdiction, checks the settlor and the source of funds, and information about the trust is reported to tax authorities under information exchange rules. We help you work out whether you need a trust, which jurisdiction suits you and how it will fit with your companies and your tax residence.
Who it is for
- Business owners thinking about passing their company to heirs
- Families with assets in several countries
- Entrepreneurs who need a long-term ownership structure for their companies
- Owners who want to set rules for managing their assets in case of illness or death
Requirements
- A clear purpose for the trust: succession, asset protection or business management
- A licensed trustee in the chosen jurisdiction
- Passing the trustee's checks on the settlor and confirming the source of the assets
- Assets of lawful origin, and a trust set up before any creditor claims arise
- Taking into account the tax rules of the country where the settlor and beneficiaries are resident
What we do
- Go through your goals, assets and family situation
- Choose the jurisdiction and the type of trust
- Design the structure: the trust, holding companies and the roles of each party
- Arrange the setup of the trust through a licensed trustee
- Help you pass the checks and transfer assets into the trust
- Advise on reporting for the settlor and the beneficiaries
Key documents
- Passports of the settlor and the beneficiaries
- Proof of residential address
- A list of assets: companies, accounts, real estate and securities
- Proof of the source of funds and the origin of the assets
- Documents on existing companies and shareholdings
How it works
- Consultationgoals, assets, family and tax residence
- Designjurisdiction, type of trust, roles of the parties and links to your companies
- Checksthe trustee reviews the settlor and the source of the assets
- Setting up the trustthe trust deed and the appointment of the parties
- Transfer of assetsmoving shares, accounts and other property into the trust
What to watch out for
- A trust set up after creditor claims have arisen can be challenged
- Ignoring the tax rules of your country of residence creates obligations for the settlor and the beneficiaries
- The trustee may decline to set up the trust after its checks
- Sanctions rules apply: the EU prohibits setting up and servicing trusts whose settlor or beneficiary is a Russian citizen or resident without residence rights in the EU, EEA or Switzerland, and since December 16, 2022 the UK has banned trust services for people living in Russia
FAQ
How much does it cost?
Our service fee is on request. Government fees, translations, insurance and other mandatory costs are paid separately; we send the full estimate before you sign.
What is a trust in simple terms?
It is an arrangement under which you transfer assets to a trustee, who manages them for the people you have chosen, according to rules set in advance. A trust lets you decide ahead of time who receives the assets and when.
Can a trust be used to hide assets?
No. The trustee checks the settlor and the source of funds, and information about the trust is passed to tax authorities under international information exchange rules. A trust is a planning tool, not a way to stay anonymous.
Does a trust for asset protection shield you from creditors?
It can, if it is set up in good faith and in advance, before any claims appear. Courts can declare invalid a trust created to escape debts that already exist.
How does a trust work together with companies?
Often the trust owns a holding company, which in turn owns the operating business. The companies are then managed in the usual way, while ownership and succession questions are settled at the trust level.
Who can act as the trustee?
Only a trustee licensed in its jurisdiction. The trustee checks the settlor and the source of funds, may decline after these checks and manages the assets under the trust deed. We arrange the setup through a licensed trustee in the jurisdiction that suits your goals.
Do my citizenship and residence matter?
Yes. It depends on your citizenship, place of residence and the jurisdiction. For example, the EU prohibits registering and servicing a trust whose settlor or beneficiary is a Russian citizen or resident, except EU citizens and holders of residence permits in the EU, EEA or Switzerland, and the UK ban covers people living in Russia. We check feasibility and tax consequences before starting.
Do you guarantee the result?
No. Decisions are made by government agencies, consulates and banks. We are responsible for preparing and checking documents, filing and support, and we tell you about the risks upfront.
Related programs
Let’s discuss your case
We will check whether the program fits your citizenship, income and family, and send an estimate with the full list of costs.
