For every 60 minutes you spend making money, spend 60 seconds thinking about how to protect it!
BOCA RATON, FLORIDA (PRWEB) December 17, 2015
Not surprisingly, most of America’s major corporations have international entities. And no less conspicuous are the hundreds of thousands of ordinary people worried about litigation and loss of their wealth. They want the best protection, and they find it internationally. For instance, one advantage of international asset protection is that fraudulently transferred assets within the U.S. are recoverable through the U.S. courts, which have jurisdiction over these assets, but U.S. courts lack jurisdiction over international assets. This makes the assets far more protected – this point is important. You never know when someone will raise claims from the past.
1. International Asset Protection Defined
International asset protection is the legal process of titling both your personal and business assets to put them beyond the reach of future potential threats and creditors using international trusts, limited liability companies, and/or other entities. A good asset protection plan should protect all of your assets from any and all financial threats. The real trick in today’s day and age is not to make money but to keep it.
2. Why Using International Entities is Becoming a Popular Asset Protection Tool
International asset protection is increasingly popular and will continue to grow in importance and popularity because financial and legal professionals want stronger protection for their clients. Unfortunately, too many lawyers still rely entirely on domestic asset protection strategies when their clients’ money would be considerably safer internationally. That’s why we often protect our wealthier clients by blending domestic and international asset protection strategies.
3. Three Reasons why going “International” is Advantageous
International financial centers provide powerful debtor protection because they impose many legal and procedural obstacles, which few creditors can overcome. One example is their shorter statute of limitations to challenge asset transfers internationally (one or two years). Another obstacle is that creditors must prove beyond a reasonable doubt that a transfer internationally was fraudulent, which is a very difficult standard to overcome. Nevis is a particularly strong asset protection jurisdiction and makes the creditor post a cash bond before the creditor can even sue. Another roadblock is that a creditor must hire local counsel on a fee-only basis as contingent fees aren’t allowed. Moreover, a creditor must first sue in the United States, obtain a judgment, and then must sue again in the international jurisdiction as these asset protection centers do not recognize or enforce U.S. judgments.
4. How International Asset Protection can work to protect Assets
International asset protection is usually coupled with domestic asset protection to provide the best shelter for assets. Domestic asset protection is used as a foundation to the planning and international planning is added as an additional layer. In consideration of which strategy gets used depends on what type of asset needs protection. Certain assets must be protected inside the United States, while other assets can be moved abroad. For instance, we use domestic strategies to shelter U.S.-based assets, such as real estate and businesses. International entities are used to protect the nest egg and liquid investments. This combination creates the most effective, overall, protection.
5. What Factors Make you the Ideal Candidate for International Asset Protection
Most people who go internationally with their money are those with enough wealth to make it worthwhile, usually with at least $500,000 or more. Business owners fit very well into this category. Professionals with growing businesses, such as doctors and lawyers also fit well into this class of people. These people rightfully want appreciably stronger protections than domestic or U.S.-based entities can provide.
The Presser Law Firm P.A., Asset Protection Attorneys, represents individuals and businesses in connection with the establishment of comprehensive Asset Protection plans that incorporate both domestic and international components.
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