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Family Limited Partnerships (FLPS)
- Provide strong asset protection against creditors.
- Court judgments against a partner require a "charging order" for profit distributions.
- Restrictions on distributions and tax liability for opponents.
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Limited Liability Companies (LLCS)
- Common components of asset protection plans.
- Combine asset protection and lawsuit safeguards.
- Preferred tool for real estate and stock market investments.
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Asset Protection Trusts:
- Offer protection against creditors.
- Require proper establishment and true third-party trustees.
- Offshore trusts, such as those from the Cook Islands, provide stronger protection than domestic trusts.
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Offshore Asset Protection Services
- Certain foreign countries provide the best personal financial protection laws.
- Financial havens that shield assets from local debtor court rulings.
- Offshore services offer legal instruments with a proven track record against years of case law.
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Asset Protection Tools
Verse Legal Tools:
- Depending on your circumstances, various legal tools can be employed.
- You may need long-term estate planning, immediate asset protection, or both.
- When structuring your asset protection service plan, we consider your individual needs, preferences, and comfort levels.
- Employing properly established legal tools is crucial, and it is best done with a qualified and experienced asset protection planner.
Various Legal instruments:
- Asset protection service plans often involve multiple legal entities.
- This can include corporations, LLCs, partnerships, various types of trusts, and private banking accounts.
- The selection and formation of these entities depend on the desired level of protection.
- Multiple legal jurisdictions, including foreign countries, are often chosen based on the complexity of individual needs.
Creating a Service Plan
Creating a Service Plan:
- Structuring asset protection services is a complex task that requires professional guidance.
- Experienced consultants can conduct assessments to consider all the variables that an individual needs and wants.
- Different legal structures and business entities have performance characteristics suitable for different types of assets and values.
Incorporating Various Legal Tools:
- Typically, multiple legal tools are incorporated for maximum protection.
- For example, we place corporations inside of LLCs. Land trusts own real property for privacy of ownership.
- LLCs then own the land trust for asset protection and lawsuit shielding.
- Liquid assets are placed in LLCs housed inside of asset protection trust for maximum protection.
Domestic and International Options:
- Whether we form entities domestically or internationally depends on the need and client desire.
- We assist clients in establishing secure bank and/or investment accounts that provide the right balance of safety and convenience.
