Comments by "Marvin Fine" (@torontovoice1) on "Myths About Offshore Trusts and Citizenship" video.

  1. First of all I love the theatrics. Like the hamburger impression was really good! Now, you couldn't be more correct in people believing that they can defy a court order. Ask Kevin Trudeau if he can treat the court orders as suggestions. I don't know if you saw that interview on one of the major shows where they caught up to him in Switzerland and he accused the journalists of ambush journalism! I remember when he told the judge his Bentley was corporate transportation. The mansion that he lived in was corporate housing. He told the judge he was broke and you couldn't pay the $37 million judgment. But you know how The story goes.. when you start to lie, the lies get wider. So when they started asking him how do you pay for this how do you pay for that where your credit card statements etc everything fell apart. The judge cited him in contempt of court, and bear in mind this was civil contempt and sentenced him to 10 years in jail. I think he's sitting in a halfway house now or something. You might want to Google the story of Kevin Trudeau. He had all these quick get Rich schemes, he wrote a book on cures that doctors won't tell you, and a bunch of other malarkey. So in summary yes, if you have a complex structure, there may be a benefit in creating a trust. But it will not protect you from creditors. And I should also point out that you can also get into a lot of trouble with trust as well. Don't forget what you're doing is you're putting your assets into a trust, and your naming a trustee to administer the trust. But what if he's a crook? Goodbye assets. Now there is also what they call a protector, but it can get very messy and you know going into a Caribbean Island and finding a local guy as your trustee, and entrusting him with your assets. I don't know about that! I have to think about it. That's very different than setting up a trust in Delaware or Wyoming appointing a major Bank as the trustee. Another thing you should think about is these things are rather expensive, so unless you've got substantial assets and not just you know 5 or 10 million, you might want to think about it.
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