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Offshore Jurisdictions
A Foreign Asset Protection Trust is a trust that is set up in an offshore jurisdiction that has enabling trust legislation providing for substantial protection against creditors of the Trustors. The biggest advantage of the Foreign Asset Protection Trust is the fact, that by its very nature, any legal attack against the assets in the Trust is transferred abroad to a different legal system. The Foreign Asset Protection Trust is generally much more expensive to set up and create than a Domestic Trust and requires a certain willingness on the part of the Trustor to deal with Offshore jurisdictions and trust entities.
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