We mentioned last time the necessity of organizing your assets in ways that protect and preserve everything you have worked so hard for. We are not worried so much this time about your investment opportunities and how to find the best investments for maximum growth and security, but with the way you have them in your life, and how they can be passed to your heirs.
There are several facets to reflect. For example, in this litigious society, you will want to ensure that a trial will not distinguish you from your accounts and / or homes and real estate investment. In some countries legal system discourages frivolous actions by requiring the losing party to pay all fees, but in the U.S.
Apart from opportunistic attacks on your property, you may also find that you're on the receiving end of a valid claim, eg if you are involved in a fatal car accident. If your insurance does not cover the full amount claimed, so your assets can be seized. With a large claim, it is not unknown for the insurance to fall short of the amount needed and it should never be relied upon to cover all situations.
There are several options that are claimed to cover your obligations and protect your belongings. The fact is that asset protection is a dynamic practice and what might have been regarded as the best advice five years ago may fall short today. It is important to speak with a counselor who can provide investment advice and have an appreciation of all the factors that must be remembered, such as Ken Himmler.
It is not always necessary to use offshore accounts or foreign trusts, but they have their place, and domestic trusts, corporations and limited partnerships do in your investment strategy. An active defense tactics to effectively give up control over your assets so you can not be commanded by a court to deliver them, whilst retaining the benefits of their use. Experts at Integrated Asset Management, will discuss with you the choices you can make.
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