Most of the time when we mention “Asset Protection,” the conversation immediately jumps to privacy, offshore jurisdictions and tax havens. But the simple truth is there are a number of very effective and straight-forward methods of protecting virtually all of your assets from the threat of liability without even discussing offshore entities. By using the same instruments that banks and trust companies use every day in this country, the equity in all of your real estate and other assets (car, cash, other vehicles and personal property) can be protected from liability so that you, and only you can determine what it’s used for. That means that if a creditor or other third party tries to reach your assets, they’ll fail because you’ve protected them. And the methods we use are also very cost-effective. A normal arrangement that could be used to protect any number of real properties in the same county and all personal assets in the same state would likely cost less than $2,000, including the recording and filing fees. When multiple counties and states are involved, the costs will increase proportionately.
And with a few additional modifications, it’s also possible to include some important privacy provisions that help to protect your identity from all but the most sophisticated government authorities.
And if you need complete anonymity and/or easy access to your liquid assets, it’s still possible to make use of one of the various offshore jurisdictions to establish a more sophisticated structure using International Business Corporations and bearer share arrangements.
No matter what your specific protection objectives are, we’re confident there’s a practical solution tailored to your personal needs and we’ll likely find a few additional benefits to include along the way as we review your specific circumstances.