Offshore asset protection is defined as the safeguarding of wealth and assets from attack by
potential creditors. Protecting your assets offshore means controlling your assets through a business instrument in a foreign jurisdiction with more favorable laws. These offshore
jurisdictions create a significant protective barrier between creditors and judgments, and your assets. The assets that can be protected is a broad class consisting of your home, bank accounts, businesses, real estate property, personal property, intellectual property, and anything else of value.
Offshore asset protection is considered as a planning tool for the following classes of individuals:
People who stand out as successful, wealthy individuals can become targets of unwanted lawsuits
Directors or officers of a corporation who may get sued
Individuals who place their assets under the names of family members
Offshore asset protection comes in many forms and the strongest asset protection you can establish is an offshore strategy involving limited liability companies and a trust. Offshore asset protection removes your entire asset portfolio out of the U.S. legal system. You essentially put your assets into a legal system that has the strongest asset protection laws in the world.
Kelly is an international award-winning corporate and securities attorney who has been providing expert legal counsel to domestic and international clients for over 17 years. Kelly’s passion is helping entrepreneurs start, run, and grow their businesses with the right legal structure and the right legal contracts.