Asset Protection Services
Asset protection services start with a professional risk evaluation and asset assessment then continue with the design of one’s overall strategy and service plan. Services include the formation and funding of the business entities and legal structures – annual maintenance, service plan updates and compliance services are included.
Risk evaluation and asset protection service plan consultations are free – you can speak to a professional and get immediate answers today.
There are a number of legal tools available that are suited for various situations from long-term estate planning to immediate asset protection requirements. Choosing service elements depends on an individual’s needs, preferences and comfort level – and should be done with a qualified service planner.
Asset protection service plans will consist of multiple legal vehicles such as corporations, LLCs, partnerships, various types of trusts as well as private banking accounts. These vehicles will be selected and formed according to one’s desired level of protection – in some cases multiple legal jurisdictions will be chosen, including foreign countries, depending on the complexity of the individual’s needs.
Below are the elements of an asset protection service plan:
- Family Limited Partnerships
FLPs provide a strong layer of protection between your assets and creditors, pursuing the assets in this entity is difficult and even in the event of a judgment there is an additional court ruling that must take place in order to attempt to receive distributions of profit from the partnership.
- Limited Liability Companies
LLCs are excellent components of a strong service plan that provide excellent protection from business liability, are outstanding for owning real estate and membership interest cannot be seized, unlike corporate stock.
- Asset Protection Trusts
Also known as self-settled spendthrift trusts, these are dedicated asset protection instruments specifically designed to set aside assets solely for the benefit of trust beneficiaries that cannot be seized in a lawsuit or used to satisfy a judgment – these are available in a few states and several offshore jurisdictions.
- Domestic Asset Protection Trusts
- Offshore Asset Protection Trusts
- Comparing Domestic vs. Offshore Trusts
- Qualified Personal Residence Trust
These are types of irrevocable living trusts for a primary residence and second homes designed to reduce the amount of gift and estate tax that is incurred when transferring an asset to a beneficiary.
- Living Trusts
These instruments are designed to protect assets from probate and death taxes, similar to a will in this regard, and can prevent a court from controlling your assets if you become incapacitated.
Types of asset protection trusts and services:
Offshore Asset Protection Services
The strongest personal financial protection available in the world is found in countries with dedicated legal statutes created to offer foreign investors safe harbor for their assets – these jurisdictions are financial havens protecting assets from debtor’s home courts and offer the most flexible legal instruments backed by years of case law – more info…
- Offshore Business Entities
Offshore incorporation and LLC formation is the strongest method of creating immediate financial privacy – these tools offer substantial protection and control over assets encumbered in a service plan.
- Offshore Banking
The safest and most secure financial institutions are in Switzerland and small offshore banking havens that provide foreign investors with the world’s best privacy laws and international investment opportunities – most of these banks require new accounts to be established through an eligible introducer to streamline the application process.
- Offshore Trusts
The only way to judgment-proof an asset protection service plan is to separate asset control from one’s home legal jurisdiction and put it into a legal system that does not recognize foreign court orders. The offshore asset protection trust is the strongest legal tool in the world.
Creating a Service Plan
Choosing services is a complicated task and requires assessments to be made that factor all of the variables and a level of control that an individual is comfortable with. These legal structures and business entities each have performance characteristics that are suitable for different types of assets and situations.
Typically these services are nested or layered in a protective strategy and financial plan. Businesses are incorporated into corporation or LLCs, real property is owned using Land Trusts for privacy and an LLC for asset protection, liquid assets can be placed into a private business-owned bank account and asset protection trusts encumber the entire service plan, on or offshore.