If you own assets of any value, you are also vulnerable to lawsuits of all kinds, including predatory ones that are "made up" for the sole purpose of stripping you of some of your wealth. Considering that you are three times more likely to end up in court defending yourself than ending up in hospital, sick, protecting yourself against the possible consequences of legal action against you should be at least as natural as buying medical insurance!

Unfortunately, most people do not even know that there are fully legal ways of protecting your assets so that no creditor can touch them, regardless the kind of judgment you might get against you. The creditor could even be your government's taxman! (Remember, you are liable for your taxes, even if they are arbitrarily levied and you have a legitimate appeal - and everything you own is at stake if that happens: your assets will be gone before your appeal case is ever heard by a judge!)

You probably also noticed that many professionals (doctors, engineers, dentists, chiropractors etc.) protect themselves against liability claims by incorporating their business. Now, this does not protect them against a liability claim concerning themselves as private persons - and it does not protect their business assets.

And what about you and your family? Are you vulnerable?

The problem is ownership. Whatever you own is subject to possible seizure and confiscation in case of a claim against you being upheld in court - or being launched against you by the government. Ownership and liability are linked to each other. This makes it a complete illution to think that you have control by virtue of ownership. Reality is that you don't. Your possible enemies do.

The solution is to split your ownership from your liability. Since you cannot escape personal liability, you need to transfer ownership to a legal entity you can control without owning it. Such a legal entity is a Discretionary, Irrevocable, Pure Trust. By establishing such a Trust in another country, you can gain some very significant tax advantages that will more than pay for the establishement.

Unfortunately, there are many ways you can be ripped off by having scam artists set up an "asset protection trust" for you. There are also many ways in which you can put yourself in severe legal conflicts by using a Trust for purposes that are not compatible with its legal nature. On the other hand, using an Offshore Trust is simple, once you understand the principles. It is also affordable (prices typically range from $1,000 to $1,500) and if you set it up with a competent Trustee, you get a bunch of valuable tools to protect your financial privacy as well.

Give me a call and I will help you identify what to look for to protect yourself and your family. Your accountant and your attorney are not very likely to know much about this - they never learned anything about it as part of their education - but you need to know what what to look for and what exactly to ask them so you get the maximum advantage with a minimum risk.

Sincerely,

Mogens Eliasen

PS. With your assets protected by an Offshore Trust, you also get the maximum protection of your Estate. You can pass on your Estate to any heir of your choice (no legal restrictions and no punitive tax consequences!), with no probate due, not taxes payable, and no legal fees involved other than what it costs to have the attorney that takes care of your will send a copy of your death certificate to the Trust administration.