“If They Bust Your Doors Today, Seize All Your Assets, Are You Prepared Thoroughly To Start Over Clean – Somewhere Else? (If not, read this)
Years ago, I learned about asset protection the hard way. I became embroiled in a minor dispute with a US government agency. They were wrong. I was right. No question about it.
Back in those days, I had a sizeable business to run. Crack teams of accountants and lawyers were at my disposal… They would settle it, I thought. I wasn’t worried, so I didn’t give the matter much attention. One day I refused to take a phone call, and had my secretary refer some squeaky-voiced government guy to our accountants.
Soon after that, I found all my bank accounts frozen and my checks started bouncing, left, right and center. Business came to an end, just like that. I had to fire my employees. With my income cut off, I ended up in jail because I couldn’t make court-mandated maintenance payments to my 3 ex-wives.
Did I win?
Years later… yes. But that’s another story. I learned that when your property is seized in litigation (especially when the government is the plaintiff) even if you win – it can be years before you get back any part of it. And I learned another, even more important thing: you must be prepared.
After that, I vowed always to be ‘Prepared Thoroughly.’ Never again to be at the mercy of a petty bureaucrat who was upset because I didn’t take him seriously. And I have never again had a problem. This article is about some unconventional but completely legal asset protection strategies that are guaranteed to work!
The Rich Don’t Own Great Wealth – They Control It!
Ingvar Kamprad, founder of the IKEA furniture stores, is by some calculations the richest man in the world – but IKEA’s ‘unconventional’ ownership structure makes this the subject of debate. Frankly, nobody knows. You can be sure he can afford anything he wants. Yet he owns very little.
The super rich don’t own great wealth – they simply control it. Ownership implies risk and liability. Control simply means you get to enjoy it!
Looking back over history, the rich have always used asset protection structures like trusts and family foundations to protect their assets. IKEA’s complex and opaque holding structure, with Foundations in the Netherlands, Luxembourg and the Caribbean, is one example of a successful entrepreneur’s asset protection strategy. But you can be sure it costs a small fortune in attorney’s fees just to keep it up.
However, too often, people who have been successful in business do the craziest things. Things that really make you wonder how they were so successful in the first place. Like handing over assets to supposed ‘trusted professionals’ who at best manage the assets badly, churning and burning accounts to generate high fees – and at worst simply run off with the money. Over the years I’ve seen it all… again and again.
How, then, can someone new to asset protection planning deal with this dilemma? When so-called specialists tell you that the only way to protect your assets from greedy contingency fee lawyers, ex-spouses and creditors is to give away your assets once and for all (to them) what should you do? I say: run, as fast as you can!
Are there ways to keep control of your assets while keeping them out of harm’s way, without giving up control? Most certainly! That is the subject of my new 37-page Asset Protection Manual (valued at $150.00) that I am offering free of charge to Escape Artist readers who send me an email at firstname.lastname@example.org.
The Threats to You and Your Assets are Multiplying
Today, threats to your assets are greater than ever. There’s the government, for one. They don’t even need to bother about seizing your accounts. They are taking everybody’s money through devaluation. You may have the same amount of dollars left next year, but you can bet them all you won’t be able to buy as much with them next year!
Then there are creditors. The court system is out of control. Even a burglar who hurts himself while robbing you can sue you and get a million dollar judgment against you! Property rights and traditional freedoms have been eroded beyond the point where they can ever be fixed – at least in my lifetime. Identity thieves on the other side of the world can access your bank and brokerage accounts. Worst of all, selective prosecution means the most highly paid, successful people with visible assets run a much bigger risk of criminal indictment.
Here’s Something Lawyers Won’t Tell You!
One of the main reasons for all this, in my opinion, is how transparent most people’s lives are. If your assets are visible, they are in temptation’s way. It is easy for people to research on Facebook, and gain access to credit records, property transactions and the like showing how much you are worth. If you have assets, you are a target!
Here’s something lawyers won’t tell you, because there’s no way they can make money out of it. Keeping a low profile is the best way to stay out of harm’s way. Don’t own properties in your name. Keep your savings in foreign banks where hungry lawyers can’t see it. Don’t brag. All these things vastly reduce your chances of being targeted.
Put simply: there are far more options open to the investor whose capital is invested from a base or headquarters outside his home country. The government wants you to believe that anything offshore is dangerous and risky. The offshore industry lawyers want you to believe it is easy, and secure… but very expensive… to set up trusts, foundations, three-tier holding companies and the like.
The truth is that taking the decision to go offshore is much more straightforward and economical than many might have you believe. Opening an offshore bank account, for example, costs almost nothing and still provides you with strong asset protection.
Don’t get me wrong. Foundations, trusts and the like can be good, but they are subject to many limitations. If you would like to know more about this, read Chapter 4 in the free report Asset Protection Secrets Big Brother Doesn’t Want You to Know. You will get your copy of this amazing report when you send me an email at email@example.com
Are you a US Citizen?
Asset protection is harder for Americans than for most others. But again, there’s a huge industry of lawyers and accountants peddling domestic asset protection strategies. You can easily spend thousands setting up complex trusts and LLCs. Trust me: it’s not worth it!
However well drawn up your ‘structure’ the government or the plaintiff will challenge it in court. Even if they know they can’t win in the end, they will try to wear you down. And they are hoping to get a judge with socialist tendencies, so they can present you as an exploiter and themselves as victims. With the right judge on their side, the law doesn’t really matter anymore.
Chapter 5 of Asset Protection Secrets Big Brother Doesn’t Want You to Know is especially for US citizens. There’s something even more important that Americans need to know, too… it’s a loophole that could save high net worth individuals hundreds of thousands, or even millions of dollars, in taxes… all perfectly legally. It’s quite a sensitive matter, and it’s a loophole that might be closed soon.
How to Hide Foreign Assets Completely Legally
As you are probably aware, foreign bank accounts have to be reported these days. Americans must report any foreign accounts totaling over $10,000 to the IRS. Similar regulations exist in most other countries.
If you follow my advice, however, you will keep your overseas assets non-reportable. This doesn’t mean you just don’t declare them – many people who did just that are now regretting it big time, as the veil of bank secrecy is being lifted around the world.
What it means is that you keep your money in more sophisticated assets. Physical gold is one for example. While gold certificates, or electronic gold, would be reportable, hard gold coins are physical things that don’t generate any dividends and don’t have to be reported on your tax return. You can keep gold coins in a safe deposit box overseas and no one needs to know about them. There is no way any lawyer or money-grabbing government official can know about them. And what they don’t know about is safely there for you and your family when you need it.
This is completely legal. There are five other non-reportable assets that are also easy to get into. Each is described in detail in Chapter 7 of Asset Protection Secrets Big Brother Doesn’t Want You to Know. You can download your copy of this guide free – right now – by sending an email at firstname.lastname@example.org.
At the end of the day, we live in a complicated world and protecting your assets is no easy matter. But neither is it as difficult as it seems. There are lots of people out there who have a vested interest in making things complicated. If you want to keep what is rightfully yours, you need to rise up to the challenge!
I won’t be popular for saying this, but you should trust nobody but yourself. Don’t trust asset protection lawyers or accountants. Don’t trust peddlers of offshore corporate structures. Only by taking the time to study the concepts and learn from an independent source will you be in a position to know how you can best protect yourself and your family. To get you started, I am very happy to offer you the benefits of my experience. Your future is in your hands!