Select a Belize International Trust for your Succession Planning Purposes
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. Belize’s Trust Law is one of the strongest and most flexible asset protection trust legislations and highly favoured for estate planning, investment purposes, tax and preservation of confidentiality.
Another 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, set aside or recognize the validity of any claim against the trust property pursuant to the laws of another jurisdiction. Equally, the order of a court of another jurisdiction in respect to personal and proprietary consequences or termination of marriage, succession rights (whether testate or intestate) which includes fixed shares of spouses or relatives and the claims of creditors in an insolvency is not recognised.
The reciprocal enforcement of judgments of legislation does not apply to a trust so that a new proceeding would need to be brought in Belize in every instance. Belize trusts are extremely flexible and can accommodate numerous asset protection clauses. Typically discretionary trusts are established and such type of trust provides for automatic successor trustee and protector provisions. Spendthrift provisions may also be utilised to limit the rights of the beneficiary. Although discretionary trusts have been most widely used, non-charitable trust may also be settled under Belize law for asset protection.
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. Other advantages of Belize International Trusts are that they may be created to specific family requirements. Particulars on the settlors and beneficiary are not filed at the Trust Registry, Trustee appointment and removal provisions are flexible, powers and duties of a protector are clear and there are no “forced heirship” or wealth protection provisions.
Zetland is licensed to provide trust formation and trustee services. We are here to assist in 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) / +501 223 1037
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