The key benefits of an offshore trust are as follows:1. Confidentiality:
Assets in Trustee's name
Transactions in Trustees name
Banking privacy in offshore jurisdictions
2. Effective and flexible control of assets. While the Settlor is living, even if incapacitated, the Trustee is under a strict obligation to carry out the Settlors wishes regarding distribution of income and capital, as expressed in the Trust Agreement, for the Settlor, for the beneficiaries, and after the Settlors lifetime for the named beneficiary.
3. The Settlor may assign or retain power to manage the assets. There is no probate for Trust assets, no public record, no delays in distribution and no additional legal costs.
The current beneficiaries may receive income or the temporary use of the assets and may receive some capital before final distribution. Settlors may be the beneficiaries during their lifetime.
The Remaindermen (remaining beneficiary's) at the expiration of the trust may be the current Beneficiary, but in any case, will ultimately receive the full ownership of the Trust.