The role of the trustee in your asset protection trust can’t be overstated. It’s not just when things are going good that you will appreciate having a reliable trustee. However, when things begin to look bad, you will really appreciate having a trustee who can help you regain control over your funds, even when creditors are trying to access it.
No one is comfortable when their assets are under someone else’s control. However, it’s important when you create a trust to designate not just a trustee, but also settlers and beneficiaries. There are certain requirements that your Nevis offshore protection trustee must possess.
- He must be a licensed trustee in Nevis.
- You also need an individual you can trust.
Fortunately, Nevis does a good job of screening trustees. Besides a strict screening and verification process, you can also expect your Nevis asset protection trustee to undergo regular audits. Further, your trustee in Nevis will be bonded. This ensures that you’re protected even if your assets are compromised.
Appointing a Nevis IBC is one of the conditions for establishing an offshore asset protection trust in this jurisdiction. The bottom line is that your asset protection trust planner or attorney must be able to work with the right kind of people in Nevis.
There are a number of people peddling offshore asset protection plans out there, but it’s important that you choose a planner who can make sure that your trust is not only manageable, but also accessible and watertight.
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