Because a Model Offshore Trust is a long-term, multi-generational arrangement, the Trustee should be a licensed offshore trust company rather than an individual.
In choosing a Trustee, the Grantor should consider the institution’s technical abilities. Is the institution able to do all the things contemplated for the Trust?
The Grantor also needs to consider the Trustee’s management experience — a key indicator of reliability. The Trustee should have a reputation to protect and should be independently audited.
And the Grantor should be confident that the laws of the country or other jurisdiction where the Trustee is located are favorable for the purposes of the Trust.
The Trustee should be truly foreign — an institution that does not do business in the U.S. It should be subject to the jurisdiction only of the courts in the country where it it located — an not be under the effective jurisdiction of courts in the U.S.
A Model Offshore Trust empowers the Protector to replace the Trustee with another qualified institution.
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