How International Asset Protection Can Help Your Business
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 US 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.
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
strategies.
We use the domestic strategies to shelter their U.S.-based assets, such
as real estate and their business, and their international entities protect
their nest egg and liquid investments. This combination creates the most
effective, overall, protection.
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 (one or two years) to challenge asset transfers
internationally.
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 it makes the creditor post a cash bond before the creditor can sue.
Another roadblock is that a creditor must hire local counsel on a fee-only
basis as contingent fees aren’t allowed. Moreover, a judgment creditor
must sue anew in the international jurisdiction as these asset protection
centers do not recognize or enforce US judgments. We can continue and
cite many other reasons why international protection is so formidable.
In sum, people who go internationally with their money are those with enough
wealth to make it worthwhile, with at least $500,000 or more. These people
rightfully want appreciably stronger protection than domestic or U.S.-based
entities can provide.
Please visit my website or contact me directly if you would like any more
information regarding
Asset Protection or Estate Planning, or would like a copy of my best-selling books on Asset Protection.
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YES, YOU CAN LOSE EVERYTHING!
You may think that your wealth is safe and that you don't need protection.
But don't delude yourself and accept reality — for every 60
minutes you spend making money, spend 60 seconds thinking about how to
protect it!