Asset Protection Trusts and How They Work to Shield Wealth
Asset protection is possible at various levels, starting with the simplest – personal foreign bank account, continuing with corporate veils – classic offshore companies and ending with trusts and funds owned and owned by offshore and non-offshore companies, material and non-tangible assets. It is about the general possibilities, schemes of building asset protection, ideas and novelties, as well as legislation aimed at protecting assets, we will talk about the articles in this section. Naturally, before doing anything, you need to consult further – this is your money earned through sweat and blood and their protection cannot be a “free” question. Our team can offer individual, private, and confidential, paid advice on building structures to protect assets. Well, a free article at https://offshorecitizen.net/asset-protection/ will give you more ideas for asset protection.
Are some offshore jurisdictions better than others for asset protection?
There are special classic offshore jurisdictions that specialize in asset protection. In English, they are still called Asset Protection Jurisdictions. In such jurisdictions, not only legislation but also judicial practices are aimed at protecting assets from all kinds of creditors. If we designate any jurisdiction as the best or one of the best jurisdictions to protect assets, we justify this statement and prove it in simple but understandable words.
What is the ideal asset protection strategy?
When protecting assets, many of us are fixated ONLY on protecting capital, rights to own real estate, intellectual property, protection from creditors, protection of business from the aggressive business environment in our country: raiders, corrupt bureaucrats and so on. Naturally, all these questions are of great importance, but their importance fades compared with the answer to the question: Did you protect yourself and your family? If your family and you yourself are not protected in front of an aggressive business environment by second citizenship and passport, then in the worst case, the assets may not be needed and there will be no one to inherit them. And in the most typical case – you will be ready to give away a significant part of your assets in order to protect your family from the aggressive business environment, no matter how well they are protected. Therefore, for an ideal (and not just a good asset protection strategy that works in most cases), the capital owner needs to be at least to some extent … an eternal tourist and, in any case, take care of purchasing second legal passports for all members of his family.