Expat Trust Advice
Trust Advice - Using a trust when you are an expat can save you and your family many thousands of pounds in local taxes
Use an Expat Trust
- Protect assets from local and UK inheritance taxes
- Protect your investment income, if it is paid into a trust and you do not take it, you may not have to pay local income taxes
- Trusts were established under English Common Law, the law of precedent.
- Trusts originate from Monks having a vow of poverty and placing their wealth ‘in trust’ i.e. looked after by another.
- Most countries that were part of the Commonwealth, and indeed many that are not still use English law as their foundation. As such, trusts are commonly recognised in many countries.
- There is a Hague Convention (international recognition) on the use of trusts and many countries have signed up to an ratified the use of Trusts in their own laws.
- Many Roman laws cover the disposal of assets on death to children and spouses
- Some Roman Laws were adopted by Napoleon under the French Civil Code
- Spain also has a civil code
- Civil code is a written constitution not set by precedent like English Common Law
Expert, expat advice is needed on the use of a trust and how successful they will be in protecting your assets from taxes or creditors.