This is the final part to our discussion aimed at helping owners and officers avoid personal responsibility for the obligations and liabilities their companies take on in the course of doing business. The first part provided an overview of the key issues related to corporate liability. The second part focused on what not to do. Here, we get to proactive techniques for guarding against personal responsibility.
Ours is an international law firm, so offshore work has always been part of our practice. Lately, however, we have been moving away from recommending offshore to our US clients.
This is a continuation of the discussion in Part I of this series regarding the advantages and disadvantages of two common asset protection techniques: offshore entities/accounts, and the US asset protection trust.