How the ultrawealthy use secret trusts and LLCs to hide their assets—even from their spouses - Tellbrief.com

How the ultrawealthy use secret trusts and LLCs to hide their assets—even from their spouses

Pay attention to so-called secret trusts, attorneys told Fortune. Though the exact structure can differ, secret trusts don’t need to be disclosed even to the beneficiaries for a set number of years.

Though not necessarily “secret,” offshore trusts provide many of the same benefits, and then some. Blake Harris is an asset protection attorney who has assisted the world’s ultrarich in setting up offshore trusts for the past decade.

Harris stresses that offshore trusts are perfectly legal entities for wealthy people interested in asset protection...

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