Home > Services > Asset Protection FAQ's

Asset Protection FAQ's

Get answers to common questions about Asset Protection

Q. Do I really need Asset Protection?
A. The answer to this question is another question. "How much are you willing to lose?" The less you are willing to lose, the more Asset Protection you need. There are different levels of protection and the techniques of protection vary depending upon the asset to be protected.

Q. Is Asset Protection expensive?
A. Recouping fees through the tax savings of proper Wealth Preservation and Asset Protection is easily accomplished. With regard to the evaluation of the cost over time, taking into account extended health care, investment gains, litigation protection, home protection, investment gains and tax savings, the Return on Investment for Asset Protection pays for itself in a very short time.

Q. How do I know if I would benefit from going offshore?
A. The ultimate Asset Protection is offshore because no other country in the world honors US judgments. There are domestic techniques that offer protection, but the consumer must be aware of the extent of the protection each technique offers. This is why we advocate educating our clients.

Q. Will a trust benefit me?
A. A properly constructed trust will offer protection to some extent. The trust must be formed long before any threats or attacks and the longer the trust stands, the greater the protection. Trusts just like all Asset Protection must be set up before any problems have arisen.

Q. Will a domestic corporation protect my assets?
A. A domestic corporation can create protection and it can cause liability. Without proper design and structure, a domestic corporation may provide little or no Asset Protection. On the other hand, operating a business without registration can cause great personal liability. This is why we have a team of advisers ready to present the best cutting-edge options for your benefit.

Q. What considerations are important when considering an offshore jurisdiction?
A. There are a number of considerations.
- Your Citizenship
- Your Resident Country
- The Political Environment of the Choice Jurisdiction
- The Reason for the Offshore Selection in regards to taxation and Asset Protection

Q. Can I avoid complicated regulations by going offshore?
A. You may have some extended anonymity concerning the ownership of your assets, but not with the IRS. You will have to report all income and assets worldwide, no matter which jurisdiction they are located. There is a recent trend throughout the world to prevent and prosecute money laundering due to terrorism and tax evasion. Offshore Financial Centers know their clients and scrutinize their backgrounds to get the approval of FINCEN.

Q. What will happen if I do not have an Estate Plan?
A.  If you do not have an estate plan your estate will pass into the probate courts.  This means that a judge will determine how to divide your estate and how much of the estate will be garnished by taxation.  Often this results in losing over 50% of an estate and sometimes as much as 70%.  The point is that complications and double taxation can be avoided.

Q.  Then why don't people have estate plans?
A.  Many people just don't realize the tax traps or even visualize that this will happen to their estate.  Many families do not want to speak about the unpleasant unevitable.  There are others who just do not have the information.  In reality an estate plan is not an expense, it is an investment.

Recommended Products

Generation Skipping Dynasty Trust $900
Although the Generation Skipping Tax (GST) is a transfer tax, it should not be confused with the terms normally associated with estate tax.

Irrevocable Life Insurance Trust $2450
An irrevocable life insurance trust (an "ILIT") is an irrevocable trust created for the principal purpose of owning a life insurance policy.

Medicaid Qualifying Trust $750
This is an add on provision. The Medicaid Qualifying Trust is an income-only, non-discretionary "subtrust" of a Revocable Living Trust. It must be funded on a timely basis during the trust grantor's lifetime to be effective.

Need Assistance with Asset Protection FAQ's?

 

Talk Now with a Certified Live Advisor Call Toll Free (888) 435-6030 OR (212) 671-1188

 

...Or simply fill out the FREE form below and an Advisor will contact you immediately

 

First Name:	Last Name:	Occupation:
		Choose occupation... Accounting Aerospace/Defense Agriculture/Mining Architecture/Design Arts/Entertainment Automotive Computers/Software/Technology Construction Consulting Education/Schools/Academia Energy/Utilities/Fuel/Chemicals Engineering Finance/Banking/Brokerage Government/Diplomatic services Health Care/Hospitals Homemaker Import/Export/Trade Information Management/Library Insurance Legal Manufacturing Marketing/Advertising/Communications/PR Media/Publishing/Broadcasting Military Non-profit/Associations Pharmaceuticals/Biotech Real Estate/Property Management Recruiting/Staffing/Human Resources Religious Institutions Research & Development/Research Retail Retired Social Services Student Telecommunications Transportation/Logistics Travel/Hospitality/Service Wholesale Other
Phone #:	Email: