I am a small potato but I will look into it.
You don’t need to do a Nevis or even any of the other Caribbean trusts. They are expensive and they really are for those with assets and cash that warrant the expense.
It’s insurance with the bill being paid once and updated from time to time.
Go to Legal Zoom and look into it. You can initiate a trust on your own or pay a trust attorney $1,500 to get you started.
The important thing to keep in mind is you are investing in a tool that will enable you to keep your stuff.
When setting up a trust you need to consider your dangerous assets and separate them into other trusts.
Your homes, businesses, automobiles, tools, guns, etc are what are called “Dangerous Assets” and when you are sued they will go after everything contained in the trust.
It is for this reason many people set up a separate trust for one house and another for another house. The same with automobiles. One for each.
The same with jewelry. If you have a substantial amount of jewelry you want to separate them in a different trust from your other assets and you can even break up those items into several trusts.
I have friends who establish a separate trust for each auto. They also carry 150/300/100 insurance with a million dollar rider and others don’t carry the rider.
If you are in an accident they can sue the trust the auto is owned by and once that trust is depleted, they are done and you can continue to live your life with all your other stuff.
It’s not much to set up the various trusts once the 1st one is established.
IF you are over 62 & own your own home, you can do a reverse mortgage & take the money & hide it. Hide it in cash at your residence. NOT in a bank account that can be traced.
They cannot take the house from the reverse mortgage company. You can live there until you die.