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How can I protect my assets? Learn how you can

Contributed by Caporaso & Partners Law Office
15 October, 2020

We will give you a complete answer to the question in this article: How can I protect my assets? Here are all the offshore and onshore tools.

If you have a business, partners, spouse, you have probably wondered a thousand times: "How can I protect my assets?" At times, you will discover the importance of protecting your assets at the wrong time. Doing so too late can end up being costly and can be subject to revocation. It is better to prevent than to complain! Planning asset protection is advisable, even though you do not have them yet, at the beginning of your work career, marital or cohabitation relationship, and before starting your business.

There are many variations of asset protection

Keeping your assets in the name of anonymous offshore companies or foundations, which are legally difficult for third parties to attack, is a fundamental step for every successful businessman.

The protection structures change, depending on various parameters:

  • the person's nationality;
  • the person's residence;
  • the initial capital;
  • estimated annual income;
  • area of economic interest (Euro, dollar, pound, etc.)

Other factors could be:

  • civil status;
  • whether they have children;
  • occupation or work they he does.

The asset protection plan must be tailor-made

As you will have understood, in a protection plan for your personal assets, you must take many factors into consideration, elements that an expert will consider both one by one and together, in order to propose an asset protection plan made to your measure.

The main tools for protecting your assets are:

  • offshore companies;
  • private interest foundations or trusts;
  • offshore and onshore bank accounts;
  • non-banking safe deposits;
  • in certain cases, insurance policies.

Using various tools can be necessary for creating a security shield

They can be used separately or as a whole; the number of tools used varies depending on the result you wish to obtain. In certain cases, even changing your citizenship or residence can be interesting, so that the protection plan is more efficient.

Once the protective "shield" has been created, you can go on to the tax planning phase, although the expert will have kept this factor in mind in the plan he has proposed.

Generally, an assets protection plan is developed by a solicitor with specific experience, but in the case where existing assets are significant, the expert might need the assistance of a notary and a certified public accountant (CPA), to calculate the cost of the possible scenarios that they could configure.

The best investment of your life is protecting what you have or will have

I guarantee that this protection plan is the best investment that you can make because it can save you from astronomical loss.

The most effective structure is the one that keeps companies with their related bank accounts separated from third party companies, foundations, or trusts.

All this sounds expensive, but it's really not because the number of tools used to protect your assets depends on the latter's value and the level of security you want to obtain.

How do they trap celebrities who try to hide their assets?

You will have read about celebrities who have been involved in scandals. You will have wondered how the money they thought they had hidden through offshore companies, in offshore bank accounts? Well, we can only say that they received bad advice.

These celebrities probably weren't detected because of a lack of investment in a super-shielded structure; most probably they fell into the hands of profiteers and professionals without scruples, who, in their ignorance, felt safe in what they were doing.

If you recently asked yourself, "How do I protect my assets?" this is the right moment to act; and for this, better call Giovanni Caporaso Gottlieb. This is the first step toward resolving your problems.


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