What powers and to what degree does U.S. Court have over persons holding foreign trusts?
A U.S. court does have theoretical enforcement powers, including ordering a U.S. person to repatriate any offshore funds or assets under a threat of a finding of civil contempt and possible fines. But even that possibility is negated by a properly established offshore trust with an anti-duress clause in its declaration. The clause permits a U.S. trust settlor to claim truthfully that he or she is legally unable to comply with the U.S. court’s demand since the foreign trustee and/or court will not honor the U.S. court’s orders or the trust creator’s wishes under such circumstances. As to possible contempt rulings against a domestic settlor of a foreign trust, the U.S. Supreme Court has twice held that a U.S. person cannot be held in contempt by a court for failure or inability to do what is not within his power to do, unless he created that impossibility himself. TOP For a breakdown of all costs, please visit http://www.1offshorebanksource.com/international_business_company_rates.htm.
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