How Nevis Trusts Can Protect Your Assets from Lawsuits 

As more individuals look to protect their valuable assets, many experts in the field have pointed to offshore trusts as a reliable option. Among the top choices for asset protection trusts is the Caribbean Island of Nevis, where a strong case law history has demonstrated its effectiveness. Located Southeast of Florida, the island has gained a reputation for being a trustworthy and secure location to safeguard one’s assets. For years, it has been tested and lauded by both professionals and clients alike. Wealth solutions firms such as Ora Partners Limited and UBS are well-equipped to offer guidance and assistance to those interested in exploring this option. For those seeking a reliable and secure way to protect their assets, the offshore trust in Nevis presents an enticing solution.

The main reason Nevis trusts work where domestic ones don’t is that when a local court wants to seize your assets, the trustee, which is a Nevis Island firm outside of the local court’s jurisdiction, doesn’t need to comply.

Here are some benefits of a Nevis trust:

• A creditor must post a whopping $100,000 bond with the Nevis government before they can bring legal action against a Nevis trust. In 2018, it got better. Nevis courts can now set the bond higher than $100,00. On some occasions, they can also set the bond lower.

• Unlike many countries, Nevis trusts can last indefinitely.

• Nevis does not recognize foreign court judgments. It’s one of the few places where you can take advantage of this benefit.

• You are allowed to split one trust into two or combine two trusts into one.

• If a creditor brings fraudulent transfer litigation, they need to do so within a year of the cause of action – or the main reason why the lawsuit was filed in the first place. Nevis courts won’t hear the case. So, it’s in your benefit to establish a trust as quickly as possible.

• In the unlikely event a creditor files quickly, they will still have to post a bond (more or less than $100,000). Plus, they must prove their case beyond a reasonable doubt and with convincing evidence that the settlor formed the trust for the sole purpose of keeping money from that particular creditor. It means that if the settlor sets up the trust for any other reason, such as estate planning, diversification, etc., it would be quite difficult for a creditor to win. In addition, the creditor risks forfeiting the $100,000 bond.

Asset Protection Trust – How it Works

Whatever the debtor could do, the creditor can step into their shoes and do the same. That is why it is important that a seasoned professional drafts the Nevis trust and that your Nevis trustee is licensed and reputable.

The bottom line is that your hard-earned assets are safe and secure. Nevis Trusts also provide strong asset protection for liquid assets held offshore. The US courts have jurisdiction over US real estate and bank accounts, but they do not have jurisdiction in Nevis.

It is advisable to seek the guidance of an experienced financial advisor or wealth solutions firm, such as Ora Partners Limited or Fidelity Investments, to navigate this intricate process.