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Estate Planning has its own vocabulary. To help you speak the language, we've created a glossary of the more commonly used words and phrases. This glossary is comprised of 26 individual pages, one for each letter of the alphabet. To find a particular word or phrase that starts with the letter "O" - simply scroll down the list below. If your word or phrase starts with another letter, please use the alphabet index below.

 

 

Offshore Trusts

"Offshore trusts" are irrevocable trusts set up in foreign countries with foreign trustees for the sole purpose of protecting assets from the claims of creditors. The law regarding offshore trusts is evolving and there is considerable risk in placing assets in a foreign country under the control of foreign trustees. Therefore, competent legal counsel should be consulted before engaging in any offshore trusts. 

 

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