Best banks for the usd 100,000 trust or foundation

landogarner said:

Martin, I would be interested to learn more (and I can spend more), would you please PM me ?

Click to expand...

What more is there to say?

Apparently nothing...

Martin Everson said:

Yes. You can look at i.e Alex Picot Trust in Jersey with a RBS Jersey bank account I believe. 6-8k a year.

Alex Picot Trust | Jersey Trust Company

Alex Picot Trust is an independently owned, private client trust company located in Jersey, with a history spanning over 100 years.

alexpicottrust.com

Click to expand...

That is suitable for a family trust fund of a small size. Do you know how got it is protected against lenders and creditors ?

Propeller said:

That is suitable for a family trust fund of a small size. Do you know how got it is protected against lenders and creditors ?

Click to expand...

Sadly all trusts can be challenged especially when setup for illegitimate reasons. A trust needs to be setup well in advance of any pending headwinds, litigation etc. You can't set one up when creditors are already on your case and expect it to work. If I remember they will even ask you during setup if there is any pending litigation etc etc. And also if you lie during the setup then your on your own come challenge time from thirdparty as they may deem the trust void.

But I must ask, isn't it still really expensive for a lawyer sitting in country X who needs to find out who is behind some trust in country Y?

And wouldn't it require having an idea that the debtor owns such a structure, or are all those details now readily available on Google?

Propeller said:

But I must ask, isn't it still really expensive for a lawyer sitting in country X who needs to find out who is behind some trust in country Y?

Click to expand...

Yes it is......very expensive as they need to find a partner law firm in the country of the trust in order to bring the case. Cross border legal fees are horrendously expensive and only a last ditch resort. Legal fees can run into hundreds of thousands if not more. For example a European entity bringing a case against a Caribbean trust would need to find s trust law specialist in the Caribbean country. A trust law specialist by there very nature would often be the same person selling trusts for a living...lol. So they will run into conflicts of interest and litigating party would be milked to death financially during the process. Typically only government entities like tax office with deep pockets bring such cases not private companies. And even then they weigh the cost of pursing the case against the potential tax recovered to determine if it makes financial sense to pursue.

Propeller said:

And wouldn't it require having an idea that the debtor owns such a structure, or are all those details now readily available on Google?

Click to expand...

Yes they would need to discover the trust firstly which is not easy in some places. If the trust does not have a bank account it may be even more difficult.

Borg said:

On the top of that, the last thing I want to have in my life is to open an account for my trust in the home jurisdiction or the one that might imply any authority over me as an individual.

Click to expand...

How would you go about doing that, I would like to know?