The major pitfall in establishing an offshore trust is selecting the wrong attorney.
Without proper legal counsel, you miss out on crucial attorney-client privilege, pivotal in potential lawsuits.
It's imperative to engage a competent attorney who can adeptly handle the intricate process.
A slight misstep in creating the offshore trust could lead to asset loss due to legal action or tax implications.
Conversely, with a well-crafted trust under the guidance of an experienced asset protection attorney, you gain significant leverage to negotiate settlements and even evade lawsuit judgments.
Ensure your chosen attorney can expertly navigate the entire process—from trust inception and funding to deploying its protective measures during legal challenges.