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Statute of Limitations on Fraudulent Conveyance
countries but one honor a 2-year statute of limitations on
fraudulent conveyance. If you form an IBC within two years of a
lawsuit or creditor pursuit initiated against you, the IBC may not
hold up for you.
properly constructed international trust, filed in Belize which has no
statute of limitations on fraudulent conveyance and does not
recognize any charge of fraudulent conveyance, you are protected
immediately even if in the middle of a lawsuit or creditor attack.
Even Tell The Judge Exactly What You Have Done
stand before the judge and tell him exactly and truthfully what you
have done and depend on it to hold up. You are not the trustee of
the trust and you do not sign on the account. You can legally plead
impossibility for you to bring the money back. You can say the
foreign trustee will not cooperate and you can’t make them, that the
trust will not return the money to you. There is nothing any judge,
attorney or US agency or authority can do to get it. You get to tell
the truth, feel completely comfortable in front of the judge, and
know that there is absolutely nothing he or anyone can do to get
The Foreign Trustee Control My Money?
trust appoints what is called the 'Trust Protector'. This is your
family member or relative or trusted friend that you select for this
function. This person has full authority in the trust to fire the
trustee or replace him at any time, can have required double
signature status with the trustee on the account and serves in
general to make sure your assets are handled exactly as you would if
they were in your name.
Problems with IRS
are no problems with the IRS either. They fully recognize
international asset protection trust, also known as U.S.
offshore grantor trusts as legal and acceptable. IBCs on the other
hand have caused problems for people with the IRS, especially those
who don’t fully and correctly report their offshore income.
There are heavy reporting requirements with a trust, though, as well
as for an IBC. We can advise you fully on that so that you are in
full compliance with the IRS.