Belize International Trust – Another Alternative Estate Planning Tool
The Belize Trust legislation is probably one of the most versatile and reliable trust structure known all over the world. It has features that will surely invite any interested individual or corporate body. The primary benefit of a trust is that it allows the legal ownership of property to be distinguished and separately vested from the enforceable rights of use and enjoyment of that property. This makes the Belize trust an extremely sophisticated, flexible and creative instrument for asset protection, investment planning, tax, estate and preservation of confidentiality.
Trusts are founded by the persons (settlors/grantors) who pass his or assets to another person(s) called the Trustees. Clearly said individual needs to trust the trustee he appoints for administering his trust assets. The Trustees then manage the assets as per the terms and conditions set out in the trust deed for the benefit of a third party – the beneficiary. A significant benefit of forming a trust in Belize is the level of asset protection guaranteed to the Settlor, due to the fact that under Belize law, a Belize Court cannot vary or set aside or recognize the validity of any claim against the trust property pursuant to the law of another jurisdiction or the order of a court of another jurisdiction in respect of the personal and proprietary consequences of marriage or the termination of marriage, succession rights (whether testate or intestate) including fixed shares of spouses or relatives or the claims of creditors in an insolvency.
Other advantages of The Trust are:
- Created to specific family requirements
- Powers and duties of a protector are clear
- Wealth protection
- No “forced heirship” provisions
- Both charitable and non-charitable Trusts are allowed
- Exempted from income and business tax inheritance, estate, succession or gift tax and all instruments relating to the trust property or to transactions carried out by the trustee on behalf of the trust shall be exempt from stamp duty
- Particulars on the settlors and beneficiary are not filed at the Trust Registry
- Can accommodate numerous asset protection clauses
- Trustee appointment and removal provisions are flexible
Belize’s Trust Law is one of the strongest and most flexible asset protection trust legislations in the world and highly favoured for estate planning, asset protection and investment purposes. Zetland is licensed to provide both trust formation and trustee services. We look forward to establishing your international trust to suit your specific needs.
For further information, please feel free to contact Anju Gidwani, Director of the Belize Office anju@zetland.biz or +501 223 1037.
|
