The Belize Trusts Act of 1992 is based on the Guernsey Trusts Law of 1989 but with various amendments and innovations. The Act contains substantial "asset protection" provisions. Section 7 (6) provides that a disposition of property into a trust governed by the law of Belize may not be set aside to satisfy the claim of a divorced spouse, disinherited heir, or creditor in a bankruptcy.
Other benefits of a Belize Trust include exemption from all local taxation including duties charged on the death of the settlor or beneficiaries. Belize, with the protection provided by its modern Trust law, is the ideal jurisdiction to establish an offshore trust.
