Business & International

Asset Protection

First and foremost, there is absolutely nothing illegal about putting together an asset protection plan.  It is really just an intelligent thing to do.  Judges know that, and courts have been very reluctant to disturb protected assets.

Asset protection today is not what it used to be.  These days it’s not just for the very wealthy.  Right now, for example, homeowners commonly find their hard-earned nest-egg at risk as a result of an upside-down mortgage.  Also, we often talk to people who have creditor problems but who do not want to go through a bankruptcy for a variety of reasons.

With the upheaval in the lending industry and economic woes around the globe, people of all strata of society are thinking about protecting what they have and setting up intelligent structures for the future.  HLA is here to help. ~ J. Harrington

Second, new regulatory schemes and international treaties are changing the asset-protection landscape.  For example, some traditional offshore havens have now become very risky.  Also, many foreign banks are getting absolutely draconian about their policies and practices (i.e. FATCA).  And, of course, increased scrutiny and penalties require careful reassessment of both existing structures and strategies going forward.

Asset Protection Strategies

New threats brought on by financial crisis and increased regulation make careful planning more essential now than ever.  You will either adapt to the changes or face exposure.

Services we offer include:

COMPANY FORMS

  • domestic limited liability company in Delaware or Nevada
  • foreign limited liability company in Nevis, BVI, Cook Islands, or St. Vincent and the Grenadines
  • domestic Limited Partnership
  • Family Limited Partnerships

TRUSTS

  • domestic Asset Protection Trust
  • SPA Trust
  • Irrevocable Trust with protector provisions
  • Offshore Asset Protection Trust
  • Supplemental Estate & Retirement Trust (SERT)
  • Pre-Inheritance Trust (PIT)

OTHER TECHNIQUES

  • Panamanian Foundation
  • Annuities
  • Insurance Products

 

Asset Protection: Domestic & Offshore

The good news is there are certainly many very good options available.  The landscape may be changing, but where one door closes another always opens.  The trick is finding the right professionals.  You will want to think very carefully about the advice you receive and the people you trust with your money . . .

Thinking about offshore?  Great.  But how stable is the government?  What new treaties are in place or expected?  What contacts do you have in the foreign jurisdiction and how do you know you can trust them?

Are you doing your own research?  Fantastic.  Everyone should.  Your ideas and knowledge will be beneficial no matter what you end up doing.  But, there are some unavoidable limitations.  Do you have legal training?  Are you in a position to interpret the application of new laws and formulate strategies accordingly?  Can you dedicate yourself full-time to staying abreast of new developments and looking for ways to improve your protection?

 Are you talking to asset protection experts?  Okay, that’s fine.  But is this person licensed?  How can you really know the quality of the advice you’re getting?  What about legal analysis?  What are the chances of a non-attorney actually being qualified to talk to you about the interpretation and enforcement of foreign and domestic laws?  What kind of responsibility is this person willing to take for the advice he/she gives you?  Does the expert have some interest in the companies you’re being told to entrust with your money?  How do you know the companies won’t disappear, and what could you do about it if they did?

It’s always good to perform your own due diligence and get multiple opinions, just don’t forget to ask yourself whether the person you are talking to is an expert or a sales person.

HLA is an international law firm with extensive experience and expertise in asset protection and taxation.  The advice you get here comes from a licensed attorney who is dedicated to keeping up with the intricacies of domestic and international laws as they apply to your personal circumstances, business interests and professional practice.  We have developed a variety of time-proven strategies, which we modify as necessary to adapt to new developments.  Services we commonly provide often involve one or more of the following:

The firm also has well-established relationships with reliable banks, trust companies, and law firms both in the US and abroad.  Those relationships have become increasingly important to establishing effective strategies, minimizing costs, and having peace of mind.

Asset Protection: Domestic Trust 

As an international firm, we are well-versed in the benefits of going offshore for asset protection. That said, there are an increasing number of very interesting domestic products that can be used for asset protection as well.  Also, the current regulatory environment, with ever-increasing information sharing and penalties, changes the analysis significantly.  These days, our attorneys typically steer US clients towards domestic asset protection vehicles, such as an Asset Protection Trust.

For a full comparison of the pros-cons of Offshore asset protection versus the use of a domestic asset protection trust, click below:

OFFSHORE VS. DOMESTIC TRUST (US Clients)

The analysis differs depending upon whether you are a US person or a foreign person since the most of the new laws are aimed at US citizens/residents.  If you are an international person weighing the option of going offshore versus bringing your money to the US, read this article by HLA’s senior asset protection attorney.

OFFSHORE VS. US TRUST (Int’l Clients)