How an Offshore Asset Protection Trust can Protect Your Savings
The Escarce can take over the administration of assets as trustee or carry out the role of guardian (or protector) within established trusts.
In Italian law, the institution of the Trust can be widely applied for the most varied purposes (trust management, generational transfers of family assets and companies, destinations of goods for charitable purposes, asset protection, etc.). The advantages are evident above all with reference to the flexibility of the institution with respect to the traditional and well-known instruments of Italian law as well as to the possible economic advantages. Because of this characteristic, the Trust lends itself well to mass use, even where the use of traditional legal instruments would be inconvenient.
The Escarce is equipped with qualified specialists able to study and implement the most sophisticated trust mechanisms, providing support to professional firms interested in using this legal instrument for their clients. Finally, as part of its operations, the Marche Trust Company intends to assume the function of “Trustee” pursuant to art. 7 of the Convention on the law applicable to trusts and in their recognition adopted by the Hague on 1 July 1985 and ratified by law 16 October 1989 n. 364. In addition to the function of protector in Trusts however established.
How to establish an offshore trust for asset protection?
The Guardian, a natural or legal person entrusted with the task of supervising the correct execution of the instructions given by the settlor and possibly being consulted by the trustee before carrying out certain actions identified by the settlor.
What reasons are there to establish a malta trusts here?
- To protect your assets
- For the particular destination of certain assets
- To guarantee commercial and real estate transactions
- For charitable works and scholarships
- For the generational transmission of wealth
- To protect weak and/or forbidden individuals
- For the realization of trade union agreements.
What is Trust?
With the Trust, a settled person (or settlor) transfers ownership of all or part of his assets to another (legally recognized) subject, called a trustee (Escarce). The Escarce will have to administer in accordance with the provisions of the Trust deed and transfer to the beneficiaries (beneficiaries) in the time and manner established by the settlor the assets initially contributed, including the revenues earned during the administration period.
With this “store” the settlor, by transferring his assets to Trusts, separates them from the assets that remain in his legal sphere. The Trust may provide movable property, registered furniture, real estate, company shares, shares, securities, money, jewelry, works of art or any rights in them.
The endowment deed (transfer of assets), can be done after the deed of establishment of the Trust, in several tranches and by different subjects.