Under Swiss Law, creditors have avoidance actions to bring to execution assets that have been deprived of it by debtors' previous legal disposition. All gifts and gratuitous dispositions made by the debtor within the year before the seizure or opening of bankruptcy proceedings are voidable. For these specific legal acts, recipients can prove they were unaware and didn't need to beware of the debtor's insolvency. Switzerland has signed the Convention of 1 July 1985 on the Law Applicable to Trusts and their recognition regarding trusts governed by foreign Law. The term trust refers to the legal relationships created - inter vivos or on death - by a person when assets are placed under the control of a trustee for the benefit of a beneficiary or a specified purpose.
Private placement life insurance is a popular vehicle to structure, protect and transfer wealth. It's mixed life insurance that combines death coverage with a saving and investment component. Under Swiss Law, the policyholder of a surrenderable life insurance policy can designate any third party as a beneficiary and freely dispose of the insurance claim.
Read Blog: https://www.centrolaw.ch/en/insights/detail/how-to-achieve-legitimate-asset-protection
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