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    ssets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S TH

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    The nuts and bolts of a trust are a legal and binding contractual obligation created between two parties enforceable by law to all parties. Generally, the owner or possessor of valuable assets wishes to legally empower another person to control his assets for a specific purpose.

    The concept of trusts dates back to the medieval crusades whereby wealthy land owners would lead his serfs to battle, in far away lands, taking a number of years to get there and a number of years to get back - if they ever got back. The wealthy landowners would leave the chief monk at the monastery the obligation to work the lands and control his remaining serfs to work the land in his stead until he returned from the Crusades. Since the monks were the most trustworthy, wowing to a life of absolute religious poverty, the landowners trusted them over other potential candidates, thus the word trust.

    The legal title of assets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S THE

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    rson to control his assets for a specific purpose.

    The concept of trusts dates back to the medieval crusades whereby wealthy land owners would lead his serfs to battle, in far away lands, taking a number of years to get there and a number of years to get back - if they ever got back. The wealthy landowners would leave the chief monk at the monastery the obligation to work the lands and control his remaining serfs to work the land in his stead until he returned from the Crusades. Since the monks were the most trustworthy, wowing to a life of absolute religious poverty, the landowners trusted them over other potential candidates, thus the word trust.

    The legal title of assets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S TH

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    e and a number of years to get back - if they ever got back. The wealthy landowners would leave the chief monk at the monastery the obligation to work the lands and control his remaining serfs to work the land in his stead until he returned from the Crusades. Since the monks were the most trustworthy, wowing to a life of absolute religious poverty, the landowners trusted them over other potential candidates, thus the word trust.

    The legal title of assets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S TH

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    he returned from the Crusades. Since the monks were the most trustworthy, wowing to a life of absolute religious poverty, the landowners trusted them over other potential candidates, thus the word trust.

    The legal title of assets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S TH

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    ssets rests with the trustee. As the trustee, he has the legal power to manage, buy, sell, invest, make and enforce contracts, as the legal owner or possessor with absolute legal rights.

    DOMESTIC OR FOREIGN TRUST- WHAT’S THE DIFFERENCE?

    The domicile of the trust agreement determines the legal enforceable rights to manage and control the possession under local laws. If the jurisdiction is within the United States it’s a domestic trust. If the jurisdiction is other than the United States it’s an offshore trust or foreign trust where the local laws apply.

    An offshore trust is nothing more than a domestic onshore trust for which the jurisdictional laws governing the trust Agreement is based in the offshore jurisdiction.

    The creation of a trust can be made during one’s life or by will upon the death of the creator. Once created legal title of the assets transferred are vested to the trustee. The tax consequences are vested with the tax jurisdiction under which it was created. The income tax consequences of the Trust’s investments or assets under its control are also under the jurisdiction for which it was create

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