Jersey is a great safe jurisdiction. In the past it has not been a favorite for asset protection because there was no guidance at all on how the courts would respond to an attack on protected assets.

Well, there is now solid case law on point: The Esteem Settlement Case.

The bottom line distilled from this complex case is that The Royal Court of Jersey has made it clear that Asset Protection Trusts are welcome provided they are formed when the financial seas are calm (i.e., do not effect a fraud on creditors) and have beneficiaries other than just the Settlor.

Remember, I always urge my readers to stay away from jurisdictions that focus on asset protection as a major industry and will take virtually any Tom, Dick, or Harry with enough money to pay trustee fees.

Jersey is about as conservative as any place on earth and certainly the antithesis of the types of counties I urge my readers to avoid.

I expect to do a lot more business there. ...AND I welcome this de facto endorsement of asset protection trusts and technology.

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