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Asset Protection After a Lawsuit is Filed

Don’t be like the guy in the photo. Protect your assets. Your best defense, is offense. You need to take control of your assets now, before finding yourself in a situation where they are at the mercy of the courts. Considering an Asset Protection Trust is the best way to prevent financial loss, should you or your company get sued. Even better, you should open an Offshore Asset Protection Trust because by doing so, you are allowing your funds to be shielded by a qualified offshore trustee, in the event you are sued.

Trying to protect your assets inside the US after you are sued simply doesn’t work. An international asset protection plan the key. You have effectively taken the wealth outside of your local court’s jurisdiction and have tied their hands from forcing the seizure of your assets.

Trying to protect assets inside the US after you are sued simply doesn’t work. An international asset protection plan the key.

Think of this as a simple way to allow a tested professional to safeguard your funds from the court, should they ever be in jeopardy of being seized. This is legal, and it’s not only legal, it’s smart. Establishing an Offshore Asset Protection Trust that owns 100% of an entity such as Nevis or Cook Islands Limited Liability Company that holds the bank account, can offer you peace of mind you may not even have known existed. You are the manager of the company inside of the trust and are the signatory on the bank accounts until you need to licensed, reputable trustee to step in to protect you.

Asset Protection 101

How it works is simple. Let’s break it down for all the asset protection newbies out there, and for those of us who like a simple explanation. You have assets that you or your company have worked hard to attain, and you don’t want them seized in the event you are faced with a lawsuit. Let’s face it, people like to sue these days. We’re here to help you understand how to outsmart ill-intentioned plaintiffs.

Speaking with a specialist (such as this company) about opening an Asset Protection Trust will help you, even before a lawsuit is filed. Simply placing your assets, legally, in an international offshore trust, keeps the bad people away. If a court decides that some of your assets would be useful in funding the plaintiffs action, if they currently exist in an Offshore Asset Protection Trust, the court can ask for the assets all they want, but the trustee of your assets, offshore, does not have any interest in losing your assets. Therefore, consider them safe.

Your assets are important to you, they are important to your, and your family’s livelihoods. By considering the suggestion above, you are also being defensive even before a lawsuit is filed.  If the creditors, or some other entity is aware that you have an asset protection trust, let alone an offshore one, you have the upper-hand. Before turmoil even begins, you are discouraging aggressive plaintiffs from even pursuing you.

Asset Protection: The Riskier Your Profession, the More You Need It.

Everybody has the risk of being sued. Some more than others. An asset protection trust is critical for well-off professionals, especially those in high-risk positions. Medical professionals, lawyers, and architects are at high risk for being sued.  It is crucial to start planning this endeavor now, especially if your profession falls into a high-risk category.

When Children Need Asset Protection

Other at-risk individuals would be, children, who have inherited some form of asset.  Those of you with children who have inherited large sums of money, or a home, or an estate, from their rich uncle, need to offer them some protection. Children who have inherited riches have a large bullseye on their backs, attracting lawsuits from ill-meaning poachers.  Plus, since they are likely financially inexperienced, history shows a tendency to quickly blow through easily attached riches. A trust with children beneficiaries can have provisions so that the trust pay for living expenses and education and will divvy out certain percentages of trust assets at specified ages.

You Work Hard. Make Sure Your Opponent Has to Work Harder to Take It Away

So, it is obvious that there are people who would benefit from an offshore asset protection trust, as mentioned above. Consider your personal financial situation right now. It feels a little disconcerting, knowing that your assets are probably out in the open for the taking, should one aggressive lawsuit be sent your way. It has been made clear that you would benefit from one of these trusts, and you would especially benefit if you are wealthier than average, and work in a risky profession.

As a physician, you have worked 24-hour shifts during your residency. Heck, you likely have been on-call for 48 or more hours, time and time again. As a lawyer, you have invested critical hours of your life into your studies, and you are likely just making it financially if you are right out of school. As an architect, your visionary outlook creates beauty in this world. None of those mentioned here deserve to essentially be victimized by a lawsuit. Safe, and legal offshore protection trusts are your key to peace of mind, and security.

How Asset Protection Trusts Work

It’s important to note that you have access to your funds through the licensed trustee, who acts as a spigot to turn off the faucet should your legal enemies present a begging cup. By keeping funds in the trust account, even out of your own reach, you are keeping them out of reach of others. Others, who don’t belong there.

Domestic trusts are useful too, but not nearly as protective as offshore trusts. The cost to set either trust up is comparable, but what has been said here, an offshore trust, is your better option. The domestic trustee is under the jurisdiction of the domestic judge. Conversely, the offshore trustee can turn a “you’re not the boss of me” deaf ear to US court orders.

If you have reservations about an offshore trust, that’s okay. That’s typical for Americans who are comfortable in their own ways and not familiar with offshore investing. It may not be as wise to set up a domestic trust, but it’s better than not having one in place at all. It is better to get all the facts in order to see how safe an offshore trust and selective offshore banking really is.

It’s also very important to discuss asset protection trusts with a reputable, longstanding organization. There are organizations, such as this one, who have been “in the game” for decades. There are more resources on this website. Plus you have the option of speaking more in depth about these trusts with a highly-qualified professional with the number of form on this page.

It can’t be stressed enough, the asset protection power of offshore trust. As was previously mentioned, setting up such a spendthrift trust in the first place is a powerful move. If your opponent knows you have one, it may prevent a lawsuit from even being filed in the first place. Next, setting it up with an offshore LLC inside of your trust can put you in control until the “bad thing” happens. You can be the signatory on LLC bank account when not under duress, making funds less accessible to creditors when problems arise.

We will say it again. Until the bullets fly, you are the day to day manager of the company inside of your asset protection trust. Should you require a trustee to manage it, in the event of a lawsuit, a responsible trust agent will assign one that is licensed and bonded. To obtain a trustee license, the personnel must undergo a rigorous background check. Bonded means your funds are insured from malfeasance. This trustee is essentially a superman. No really, we mean it. He or she will take the steering wheel, and protect your important assets when you need someone to stand between your financial enemy and your trust assets. A time you would benefit from the trustee stepping in and shielding you is when a lawsuit strikes.

The only time the trustee steps in is when the courts are trying to take your money. It is at these times that your licensed and bonded trustee keeps the bad people away from your nest egg. They essentially help you distance yourself from the management of the company inside of the trust. This way if the courts order you to return the funds, the trustee can legally refuse to comply, allowing your funds to go untouched and unharmed.

The best offshore asset protection trust you can consider is one in the Cook Islands.  The Cook Islands do not recognize foreign judgments. In other words, you keep your asset protection there, and a court requests access, the trustee will simply look the other way. Your assets are fully protected with a Cook Islands trust. By placing a Nevis or Cook Islands Limited Liability Company inside of the trust you have control until the storm comes.

Remember, your best defense is to take action. What does that mean? It means, set up an asset protection trust now, for your financial safety. As has been discussed here, setting up an offshore trust is your smartest asset protection trust option. You retain control of your assets throughout the entire relationship, but in the event of a lawsuit, you simply handoff the football to a licensed and bonded trustee, who won’t fumble it, and will simply hand it right back off to you when the coast is clear.

The Nevis LLC or Cook Islands LLC is an offshore company that goes inside of the trust. Again, it is with this company that you can control the assets inside of the trust until the “bad thing” happens. There is more access to information about these companies right here on the website. What’s yours is yours, and the Nevis or Cook Islands Limited Liability Company are owned 100% by the trust and will hold title the bank accounts.

Remember though, it is critical that you begin this process NOW, before a lawsuit is filed. It is less suspicious, and holds up more readily in court to already have these legal tools in place, before a lawsuit. Also, remember, having an asset protection trust in place may even deter a lawsuit from ever being filed in the first place. The bad guys see they can’t get their hands on your money, or it would be extremely difficult to do so, so they keep away. Think of your offshore asset protection trust as a big “Keep Out” sign, keeping away all those who are seeking an easy path to wealth, by taking you money.

Remember, those in risky professions, and children who have inherited money are at great risk from these types of financial predators. Doctors, lawyers, paramedics, architects, would all benefit from setting up an asset protection trust, right now. Those are not the only at-risk professions. There are dozens upon dozens more. Do you think you are at risk for being sued because of a workplace issue? You probably are. That said, it may be wise to start seriously considering what has been discussed here. Remember, domestic trusts are better than none, but offshore trusts are more secure, provided they are with a recommended, suggested company. More information can be found right here on the site.

Your best defense is offense. Act now, to safeguard your hard-earned wealth from unscrupulous financial predators.