Asset Protection Planning With the Help of ISOG Lawyer.
Nowadays, people face too high a risk that his/her personal assets are seized by hungry spouses or criminal organizations. If you make plans to protect your assets soon, chances are that they cannot be touched by anybody.
Asset protection planning is of key interest of, debtors or potential debtors who might be targeted by creditors who wish to collect their credit. Creditors can be anyone who has an interest in your assets, including your divorcing wife.
You should start planning before a claim arises, because if you do it later it could be undone by “fraudulent transfer” law. For example, if you start a divorce process and alienate or hide your assets after the process has started, then the judge can punish you for hiding such assets and you end up paying a higher alimony. Or if you sell a property when your creditors are trying to collect what is due to them, then the judge can unwind the fraudulent transfer. When a fraudulent transfer is planned and executed, then all those who assisted in the fraudulent transfer are liable for the creditor’s attorney fees. Moreover, in case of bankruptcy, all those involved in the fraudulent transfer, can be sentenced to jail.
If you are a professional, you should think about supplement your insurance with a robust asset protection plan. In fact, if you are sued let the insurance company pay to defend it and pay to settle it, and in case the claim value is higher then what your insurance would cover, your assets would not be affected.
There are several techniques and proper methods to follow in order to achieve a 100% free-risk personal financial situation. Methods include second legal passport, international divorce, offshore anonymous companies, offshore bank accounts, foreign companies, private interest foundations, trusts and anonymous real estate properties.
The best place to place your assets is a private interest foundation or a trust, however we strongly prefer private interest foundations as opposed to trust, because the client’s control over a foundation is much higher and there is no risk that the assets would disappear.