How can I design a less costly plan?
Cost is always an important consideration. We are sensitive to this when we design our asset protection plans. Asset protection is a great 'investment,' still nobody wants to spend more than necessary for good protection. So economy and simplicity go hand-in-hand. You don't want to spend more than necessary for good protection, but you also don't want false economy and a faulty plan. That's why we seek good, low cost alternatives to more expensive structures and strategies. For example, the foreignLLC may, in some instances, provide equal or even superior protection to the international trust and at a fraction of the cost. And as we say, a number of judgment-proofing techniques (exemptions, tenancy-by-the-entireties, etc.) cost little or nothing.
Cost is a function of both which entities and strategies you use for your plan, and of course, who you choose as your planner. However, you can't accurately 'comparison shop' planners. For example, an international incorporation service may set up a foreign company at less cost than an American attorney, but would the two entities have the same protective features? Is the international incorporation service merely forming an entity or also providing legal advice about how to use the entity, or even deciding whether this is your right entity? What does this international provider know about asset protection? And will the international provider assume responsibility for protecting your wealth? You can't compare apples and oranges. Still, most families can protect their wealth for less than they might imagine. It's indeed a small investment when your goal is peace of mind and financial security.