The legends of offshore banking in the Caribbean have become a modem story of reverse piracy. Instead of bounty found, the tales are of money hidden. Unfortunately, the perceptions of Caribbean offshore banking, in particular offshore trusts, as nothing more than hidden treasure, are inaccurate and fail to recognize the value of this asset protection device as a legal, smart wealth shield.
In attempting to redeem the offshore trust as a legitimate planning instrument for asset protection, this comment will examine the concept of the offshore trust, describe how a site for offshore trusts is selected, focus on the popularity of the Caribbean region for establishing offshore trusts, explore prudent implementations of the Caribbean offshore trust, and discuss the various causes for the misconceptions regarding offshore trusts in the Caribbean.
Denise C. Brown,
Caribbean Asset Protection Trust: Here Comes The Sun: Dispelling The Dark Clouds Of Controversy,
7 U. Miami Bus. L. Rev.
Available at: http://repository.law.miami.edu/umblr/vol7/iss1/5