Choosing a Trustee for Your Offshore Trust

12:54 pm Uncategorized

globe crop1 150x150 Choosing a Trustee for Your Offshore TrustWhen considering who should be the trustee of your offshore trust, you have several options:

1. Friend or family: If the person you choose is a friend or family, the reasons may be because the individual you entrust has a vested interest in the assets held within the trust. This can be a safer way to go because they want to ensure the safety of the assets due to business dealings or because they want to protect you. In either case, have your California offshore trust attorney help you decide — appearance can be deceiving, and while you trust this person now, money can change relationships.

2. Offshore bank: This is often a good way to go depending on the trust, especially for a Cook Islands Trust where banks are extreme defensive players when it comes to the rights of the grantor of the trust.

3. Resident professional trustee: This person will charge you a fee, but the beauty here is that they are an objective party who has no interest in what family members, a divorcing spouse, or a U.S. attorney may want to do with or to your trust.

To help you decide which type of trustee is best for you, get in touch with our Orange County asset protection law firm.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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