The Silver Bullet is an Elite Trust only given to those in Power. Irrevocable Foreign Grantor Trust protects your assets, bank accounts, house, from serious lawsuits and judgements. This trust is set up and created in a Foreign Country with its own Foreign Address. If you are foreign to the United States Inc, you are good to go and don´t need a virtual global office for your trust. Only if you are an American you will need one. You don´t need to leave your home country to get this trust created. For those who want a global virtual office we have a private contact out of Greece who can assist you at an additional charge.
A foreign trust refers to a trust that has been created in a foreign country and is governed by the legal regulations of that particular nation regarding estate planning. In essence, this means that the trust falls outside the jurisdiction of U.S. courts. To understand the concept of a foreign trust, it is helpful to consider it in terms of how it is administered and regulated. If its rules and governance are established by the laws of a foreign country rather than those of the United States, it qualifies as a foreign trust.
It’s important to recall that a trust is a legal entity into which the individual transferring ownership rights, known as the grantor, places assets under the legal control of another party called the trustee. The trustee is responsible for managing the assets held within the trust and ensuring their distribution to designated beneficiaries in accordance with the grantor’s instructions.
The following sections of this guide will delve further into the specific aspects of foreign trusts.
What is the Primary Advantage of Establishing a Foreign Trust?
The key advantage of utilizing a foreign trust is the ability to safeguard your assets based on the legal framework established by the jurisdiction where the trust was originally set up.
To clarify, all trusts are designed to provide some level of asset protection. Depending on the structure of your trust, you can potentially avoid the U.S. probate court system, reduce certain tax obligations, and maintain your personal privacy. (For additional information on various trust structures, you can refer to our guide on different types of trusts.)
However, it’s essential to recognize that the protections afforded by U.S. trust laws may differ significantly from those offered by the legal systems of other countries. For example, the level of confidentiality and safeguarding against creditors provided by a foreign trust established in Japan might vary considerably from what is available under U.S. laws.
According to GDB Law, several popular destinations for establishing foreign trusts include the Cayman Islands, the Cook Islands, Bermuda, and the Isle of Man. These jurisdictions are frequently chosen by grantors for foreign trusts due to their favorable tax conditions, including low or nonexistent taxes and minimal restrictions on currency exchange. Another critical factor to consider is the political stability of the host country, which can offer grantors assurance that policies are less likely to undergo abrupt changes.
Another rationale for establishing a foreign trust is to enhance asset protection. In some instances, claims may be made against your assets in the future. While trusts established in the United States provide limited protection against creditors and various types of claims, the level of protection significantly increases when the assets are held in a foreign jurisdiction. This is primarily because litigation costs rise significantly when proceedings extend beyond U.S. borders. When legal expenses become prohibitive, creditors are more inclined to negotiate and reduce their claims.
Assets held within a foreign trust not only shield against claims from commercial creditors but can also provide protection against divorce-related claims, forced inheritance claims, and civil legal actions. However, it’s worth noting that most countries honor the reciprocal enforcement of criminal cases and convictions.
How Are Taxes Applied to Foreign Trusts?
It’s essential to understand that transferring your assets into a foreign trust does not exempt you from certain tax obligations unless, you change your status from the Debtor, Federal Employee of the state, to a Foreign Agent or Secured Creditor operating on the Private side.
A grantor trust is one in which the grantor retains some level of ownership or control over the trust’s assets. In such cases, any income and capital gains generated by the property held in a foreign trust are completely tax exempt.
Conversely, a non-grantor trust is established when the grantor relinquishes all ownership and control of the assets or property transferred into the trust. In this scenario, the foreign trust is subject to taxation as an independent legal entity. But with our particular Trust which is not only a foreign trust it is an Elite trust which means it is not subject to any taxation at all.
For the Irrevocable Foreign Trust you will need a Trustee to oversee the trust on your behalf along with successor trustees. The initial Trustee will be the one to open up a trust checking account for you. You will receive the ATM Debit card along with online banking info at your local bank in your own country. If you wish to use an offshore bank that is fine. We have the necessary documents to send over to keep your accounts safe from the IRS and taxes which is very legal.
If you wish to be the trustee of your Silver Bullet Trust you may do so, and find a Grantor. It´s a good idea if you are the one with the judgement and lawsuits, that you be the Grantor not the Trustee for this trust for full bullet proof protection. You can also be the Beneficiary since it is a Foreign Trust.
This Silver Bullet Trust is Irrevocable which means it is unchangeable. Because it is a Foreign Trust, you have the power to hire or fire your trustee and you do have the freedom to change whatever is in this trust, with a domestic irrevocable trust it is not possible. We show that it is irrevocable because when the time comes when you are being challenged that wording protects you from other creditors wanting a slice of your hard earned wealth.
Also NO FILING NEEDED!!! Once you get your Trust set up there are no more filing with the IRS because you changed your status from a debtor slave of the plantation to a Foreign Agent guarded by your Silver Bullet Trust.