Trusts in the UK asset protection definition

In the UK (United Kingdom), asset protection trusts (TAP), also known as protection, trusts exist family to protect the property of the person for someone living in another country. Person PurposeA decides for another country an APT opens to the UK to protect your assets. A person performs this transfer if you are concerned that may your own country.FeaturesWith TAP, the title of paid money will claims on the assets to a trustee. The trustee manages assets of the person. TAP is not used for the tax benefits. in most cases actually TAP provides adverse tax consequences for the owners of these accounts. Owners are responsible for reporting and payment of tax on the income of the account.UsesAPTs primarily by employees at USA as doctors, lawyers and dentists. Where litigation prices and wages are high, called, are more likely to develop an APT. For persons at high risk, TAP can act as a form of insurance to protect of their assets.