Offshore Asset Protection Trusts for US Citizens

When it comes to discussing offshore anything and US citizens - from offshore trusts to investments, from offshore banking to company incorporation - its important to note the following facts: -

- US citizens are taxed on their worldwide income. This includes income from interest, dividends and gains whether onshore or offshore.

- The US government allows money and assets to be moved offshore freely; however it requires full disclosure relating to the amount of money or assets moved and when they are moved.

- The US government has task forces committed to the prevention of money laundering and tax evasion.

- The US government makes it clear that US citizens must comply with all reporting and taxation demands.

So, does this effectively render the offshore world inaccessible or at least useless for US citizens?

No, far from it in fact!

The utilization of offshore trusts and bank accounts can be an excellent way for US citizens to legally and securely protect their assets and themselves from litigation for example.

Offshore trusts offer an individual a fair degree of personal confidentiality, privacy and asset protection from claimants such as an ex-spouse or business client for example; and if properly structured, offshore bank accounts can offer degrees of financial protection from potential future claims as well.

There are many companies and individuals who claim to be able to offer US citizens offshore solutions for taxation reduction or negation purposes. The bottom line is - as stated previously - US citizens are taxed on worldwide income. Therefore it is at best unlikely that the services being advertised will apply to a US citizen and at worst the opportunity will require the US citizen in question to break the law.

So how can offshore asset protection trusts potentially benefit US Citizens?

Any form of asset protection trust - whether onshore or offshore - can be used to protect assets from personal or professional litigation or creditor attack.

Whether established in an offshore jurisdiction or not, most assets protected by the given trust for a US citizen can remain in America. The assets usually remain under the indirect control of the Settlor (the person establishing the trust) as well.

Such a trust will usually be irrevocable for a set term, and during that period the settlor will not be a direct beneficiary of the trust.

Depending on circumstances and best advice, many US asset protection specialists favor structuring offshore or foreign trusts in such a way so that they are taxed as domestic grantor trusts.

If the trust is created properly, any creditor or anyone suing the settlor will be unable to reach or claim the assets within the trust.

If the offshore asset protection trust has been structured as an irrevocable trust for a set term, at the end of the term provided there is no current or ongoing threat, the assets can be returned to the control and direct ownership of the settlor.

Conclusion

When it comes to the utilization of offshore solutions there are circumstances in which US citizens can benefit from properly structured offshore solutions.

At all times US citizens must be aware that it is their legal duty to comply with American taxation and reporting requirements.

The purpose of effective offshore asset protection planning is the negation of any economic incentive to sue.

Rhiannon Williamson is an experienced publisher who has produced articles for leading travel and tourism guides and financial magazines. Her specialist knowledge about both travel and finance gives her site Shelter Offshore the unique ability to literally cover every single aspect of moving & living abroad - including the often less discussed offshore tax advantages that can be available when leaving our homeland. Check out her website to find out how you can escape from the rat race, relocate overseas, and profit from your move!

Opsteken Haar Zelf
Happy Dog Toy
Beeldend Kunst Petten
Estate Pro Real Realtor Remax Tennessee
Bruids Haar Model
Canada Boerderij Alberta Verhaal
Distributor Us
Winkel Almere Stad
Bank Banking Online Rbc Royal
Popular Cartoon Character

Airline Credit Cards Know What You're Getting Into

Choosing an airline credit card is not a matter to be taken lightly. Credit card companies offer many different reward programs, each with specific terms and conditions, however frequent flier programs are especially complex. Annual fees, mileage systems, redemption policies, expiration of miles; and this is only pulling the curtains back slightly. To make an informed decision, the following topics should be thoroughly reviewed.

1.Bank Sponsored Vs. Airline Sponsored Credit Cards. It is important to know the difference between the two as they will dictate the redemption of your miles. The airline sponsored card is through one particular airline and miles can only be accrued and redeemed through that airline. This choice would be optimal for someone who loyally flies the same airline. The bank sponsored card provides greater flexibility and would be better suited for the economical flier. When deciding between the two, it is important to think about which airlines fly out of which airports. To be sure, it would be nearsighted to sign up with an airline that doesn't even fly out of your nearest airport. With the airline cards it is obvious which airlines you should check into, however when looking into the bank sponsored cards, be sure to ask which airlines participate in their program.

2. Know the Annual Membership Fee. Airline credit cards are different than most credit cards as they carry an annual fee. Be sure to compare annual fees and look for promotional offers such as waiving the first year's fee.

3.Know the Interest Rate. Airline credit cards traditionally charge higher interest rates to cover the expenses of the elevated benefits. In fact CardWeb.com found that airline cards charge around 5.9% more in interest when compared to non-rewards cards. With a statistic such as this, you owe it to yourself to shop for the best interest rate possible.

4.Know the Terms and Conditions. When it comes to the terms and conditions, you must act like a lawyer. Read the terms back and forth and then read them again. Make sure you completely understand and then ask questions for clarification. Be acutely aware of the following:

• How the mileage program works

• Can miles only be earned by flying, or can you make purchases with other merchants?

• Can you earn double or bonus miles with any purchases?

• What is the minimum amount of miles needed to redeem a ticket?

• Do the miles ever expire?

• Is there a limit to how many miles can be earned in a year?

• Are there blackout dates for peak seasons or any other times of the year?

• Are any bonus miles offered at sign-up?

• Are there hidden fees for redeeming miles over the phone or in person?

Taking into account the aforementioned, it is necessary to ask yourself if you are the right consumer for an airline credit card. Due to the high interest rates and annual fees, those who benefit the most typically have excellent credit scores, are frequent fliers, charge large amounts to their cards, and pay their balances off monthly. If you do not fall into most of these categories, it would be wise to reconsider the proposition of one of the credit industrys most complex credit cards.

Copyright 2006; Anthony Oneli. This article may be reprinted on the terms that it remains unchanged and the links stay active.

Anthony Oneli has written numerous articles on credit management and is the webmaster of a site that offers news and information on credit cards. If you're looking for more information and want to fill out a credit card application, visit his site today.

Nl22
Mcaffee Download
Muziek Live Language Nl
Schipper Bont Koe
Vidio Conferencing
Opium Tafel Glasplaat
Foot Massage Therapy
Ledro Meer
Vakantie Flevoland Language Nl
Antique Jewelry Lot