There is a popular misconception that you should start thinking about asset protection when you are really wealthy. However, this is nothing but a myth: a person with any income and property should think of asset protection as absolutely any income (including modest pension savings) can be seized by the state, and any property (like real estate) can be taken away following a court decision. There are perfectly legal ways to preserve your assets, and knowing them is a must in the present-day world.
We would like to invite you to our portal where you will find a lot of valuable information on asset protection methods and benefits and choose something that suits your needs. Our articles are written by practicing specialists who know very well the latest news on the market and the currently available solutions that work best. We help people plan and protect their assets on a regular basis and know the jurisdictions that may be real strongholds for your capital.
If you have no time to read a lot to find out something that will suit your needs, you may book a session with our experts. They will answer any questions you may have, dispel your doubts, and help you with the choice. Some services are free, while others are provided at a moderate fee: for example, if you decide to set up a trust with our help to protect your assets, we will take all the administrative steps for you. Click on the link to get in touch with us!
Asset Protection: Main Advantages
No matter which asset protection strategy you choose, it should be legal and competently realized. Otherwise, you will not reduce the danger of losing everything you possess. Therefore, we strongly recommend seeking the advice of a qualified expert before you do anything.
Less Risk of Assets Seized by Court
Did you know that lawyers do preliminary research to see which of your assets are not very secure? It helps them recommend their customer to file a claim or abandon it as nothing can possibly be retrieved in this case. It practically means that if your assets have reliable protection, the legal proceedings will not even be started in most cases. And even if you are sued, you are highly likely to retain your wealth in full if everything is properly organized!
Stronger Than Insurance
Insurance coverage is a good instrument (in the form of liability insurance agreements), but this is not the ultimate protection. Combine it with trusts and foreign LLCs, and you will obtain a much stronger protection that no creditor will break through.
If your asset protection strategy is effective enough, it will considerably reduce the amounts due in case of any legal proceedings. Moreover, if the tax burden in your home country is quite high, you can optimize your tax rates by choosing an appropriate jurisdiction.
If you own certain assets but you don’t want anyone to know that you are their true owner, you can keep your identity secret by choosing a jurisdiction that legally provides this possibility. You can set up trusts and launch businesses in some countries without disclosing the information about you in any way.
If you know that you always have some money in your wallet and no one can steal it, life becomes very stable and predictable – including your business and personal life. Imagine a sudden storm that taking away your property brings to your peaceful existence – and you will understand what you avoid by adopting viable asset protection strategies.
Keep the Wealth of your Dynasty Intact
Most people would like to increase their wealth and pass it on to their heirs. This is simply impossible without a proper asset protection framework. Of course, we cannot predict all possible catastrophes and shield ourselves against them, but we can still adopt the principle of “Do what you must, come what may.”
Interested in arranging your private stronghold for your capital? Contact our experts to discover how to do it in the best way possible!
Asset Protection Strategy: How to Choose?
Choosing the right strategy to protect your assets is an important step that requires analysis. You will have to take into account your needs and purposes, the kind of assets in your possession, and the potential risk you may face. Let’s look at each item in more detail.
Facing the Risks
If you know the main risks, you clearly see the weak spots that you need to protect. Look at your occupation or business activities you engage in to identify potentially vulnerable places that need special protection. Why may another person decide to file a lawsuit against you?
Looking at Assets
Which of your assets are the most vulnerable? Think of real property, shares/bonds and other securities, the funds you keep in your bank accounts, business interests you have, and other things that can be taken away from you.
Choosing Proper Instruments
What risk management instruments are offered by the market? You will need to discover them by yourself or get in touch with our experts who will present them to you. Then you need to shortlist those that suit best for the assets you marked as the most vulnerable ones and for the risk level you identified at the previous steps.
Think of Professional Services
You may decide to venture on your own or use the services of a qualified expert who will recommend the best available tools to you and help you set them up and transfer your assets there. Needless to say, in the latter case your risk of losing your property due to incompetent actions will be reduced to zero. It’s up to you!
Keeping an Eye on Your Framework
Asset protection needs regular maintenance – just like everything else in this world. Whether the structure of your assets changes, new tools appear on the market, or the instruments used undergo some changes due to modification in laws – you will need to review your approaches to asset protection. Sometimes you will decide to keep everything as it is, and in some cases, you may opt for changes. You can use the services of an asset protection lawyer on a regular basis or once in a while to make sure your assets are well-protected.