In many cases we do. For maximum protection, it's best to have your
limited partnership interest owned by an international asset protection
trust. Under this arrangement, family members can be the general partners
and control the partnership and its assets until a creditor threatens
the partnership or its assets when the partnership can liquidate its assets.
If an international trust owns, say 98 percent of the partnership, and
serious trouble strikes, the international trust would receive 98 percent
of the liquidated partnership assets. The partnership proceeds now internationally
would be considerably better protected. Moreover, if an international
trust owns the limited partnership, it is not subject to charging orders
arising from claims against family members. The limited partnership/international
trust is almost a standard arrangement for more significant wealth protection plans.