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Asset
protection refers to the safeguarding of wealth so that it is protected
from attack by future creditors and litigants.
Wealth is broadly defined:
your home, bank and brokerage accounts, businesses, real estate, including
commercial and residential properties, jewelry, cars, boats, art and other
personal property, intellectual property, and virtually anything else of
value that you may wish to preserve for yourself and your family.
You can protect your assets
from attack by creditors, litigants, ex-spouses, the I.R.S. and other
government agencies.
YOU
HAVE TWO OPTIONS FOR ASSET PROTECTION:
DOMESTIC AND OFFSHORE
Domestic asset protection
can be totally effective if implemented by individuals with no current
claims against them. Domestic asset protection is also usually used to
protect real estate. In the case of pre-existing claims, domestic asset
protection may not be 100% effective and offshore asset protection
should be considered.
Offshore asset protection
involves the transfer of your assets to a trust or corporation established
in a confidential, secure and stable foreign country. If an offshore asset
protection strategy is established by an attorney experienced in this
area, it can be absolutely effective. However, this must be done carefully
in order to comply with I.R.S. rules and regulations governing control of
foreign assets. |