Offshore Trusts for U.S. Citizens and Residents: Separating Myth from Reality

Much intrigue and glamour has historically surrounded the concept of offshore trusts – frequently administered in tropical or semi-tropical islands that no one has heard of outside the context of adventure films. They have been touted as affording high net worth individuals everything from tax avoidance to creditor protection to complete secrecy of one’s affairs. As with most things, these stories are partly true and partly fantasy. It depends on many factors.