elements of discretionary and fixed trust. The benefits of an offshore trust Confidentiality and anonymity: Despite the fact that an offshore trust is officially registered in the government, the parties of the trust, assets, and the conditions of the trust are not recorded in the register . Tax-exempt status: Assets that are transferred to an offshore trust (in a tax-exempt offshore zone) are not taxed either when transferred to the trust, or when transferred or redistributed to the beneficiaries. The ability to transfer assets in a short time and without high costs: The transfer of property inherited through an offshore trust does not require the approval of a judge or the high cost of a lawyer. Asset protection: The Trust protects assets from forced transfer by inheritance, from seizure in divorce and bankruptcy. Accumulation of capital: The trust can own commercial enterprises, open bank accounts, participate in international investment projects, and its revenues will accumulate in one of the tax-free offshore zones. Reliability: The capital will be safe from a financially, politically and economically unstable world. Versatility: In the trust, you can transfer any assets - cash, real estate, business, stocks, intellectual property rights, etc. Rule against perpetuities Trusts in general are subject to the rule against perpetuities which, in practical terms, puts limits on the length of time within which all trust property must be distributed. Because of the strictures of the rule, a number of trusts have been struck down in wildly hypothetical circumstances because of possible infringement of the rule (e.g., the fertile octogenarian). Most offshore jurisdictions which have sophisticated trust laws have modified their laws relating to perpetuity to allow settlor to select lengthy, fixed, perpetuity periods, to avoid the use of "Royal lives" clauses. Many have also adopted "wait and see" laws, which mean that trusts which might potentially infringe the rule against perpetuities are no longer automatically invalid, but instead the trust remains valid unless and until the perpetuity period is breached. In Jersey, the rule against perpetual trusts has actually been abolished entirely. This has also been done in a number of U.S. states. Management of underlying companies Trusts in general are subject to the rule in Bartlett v Barclays Bank which provides (briefly) that where trust property includes the shares of a company, then the trustees must take a positive role in the affairs on the company. The rule has been criticised,