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Introduction to Trusts & Asset Protection

Contact Info
What can Trusts be used for?
+501-822-2990
Reasons for Creating a Trust
info@bosl.com

Why Belize? P.O. Box 445

No.1 Orchid Garden Street
Key Features of a Belize Trust
Belmopan
Belize
A Typical Trust / IBC Structure

The Trust Deed

The most common form of o shore trust is the discretionary trust. As its name implies, this type of trust
gives the Trustee wide discretionary powers over the administration of the trust property. Accordingly, the
key element in the success of the trust is the transfer of control of the property from the Settlor to the
Trustee. The Settlor transfers legal ownership to the Trustee. As the owner of the trust property under a
discretionary trust, the Trustee has a degree of freedom or discretion as to how he shall care for this
property. Limitations to his discretion may be imposed by the Trust Deed and by law.

In order for a trust to exist there must be a relationship between the Settlor and the Trustee. The main
criteria for a trust to be considered valid are:

1. the intention to create a trust;

2. the property to be subject to the trust is actually and properly transferred to the Trustee;

3. the identity or classi cation of the Bene ciaries and the terms upon which they are to bene t.

The Trust Deed will set out what a Trustee may and may not do. There are basically two types of Trust Deed
that are commonly used – these are known as the “settlement’ and the ‘declaration’ respectively. The only

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di erence between the two is that the settlement Trust Deed names the Settlor and it is also signed by him;
whereas the declaration Trust Deed is signed by the Trustee only – usually in accordance with a letter of
intent provided by the Settlor. A specimen letter of intent is given below.

Specimen letter of intent [Addressed to the Trustee]

Dear Sir 

The ‘ABC’ Trust

I hereby irrevocably instruct you to execute a Declaration of Trust substantially in the terms of the draft as
discussed with me. You are to hold the assets detailed below upon the trusts therein contained and any
other assets that may be transferred to you from time to time. 

The following assets are being transferred into your name as Trustee:

[ insert details of assets ]

Yours faithfully,

[Settlor]

Trust Property

The Protector

Letter of Wishes

Administration of Trusts

If you would like to proceed or have any additional questions, please contact us for a free con dential, no-
obligation consultation.

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