Asset Protection Archives - Page 2 of 3

You Don’t Have To Move Your Money Offshore To Get Asset Protection

Forbes on domestic asset protection trusts: “If you’re aiming to stiff creditors, litigants or an ex-spouse, should you hide your money in Nevis or Nevada? . . . These aren’t the garden-variety trusts set up for the benefit of your heirs. These are “self-settled” trusts, meaning you put the money in and you can benefit from it. But after a certain period of time your creditors (supposedly) can’t get at these funds.”

Best Jurisdiction for an Offshore Trust?

Asset Protection Law Journal has a blog post that discusses which offshore jurisdiction is the best place to form an offshore asset protection trust.

Would an Asset Protection Trust Work for Tiger Woods?

The Trust Advisor Blog: “Alaska practitioner claims asset protection trusts are good advice in marital disputes. But others disagree. If Tiger Woods is lucky, coming clean about all those affairs will help him salvage his marriage. But if he and Elin split up anyway, apologizing might at least have earned him some time to shelter his hard-won $600 million fortune from the divorce court.”

Cook Island Trusts: Basking in Islands of Legalisms

New York Times: “The Cook Islands have a smaller population — about 20,000 — than one apartment complex in Manhattan, and an economy with little to offer except tourism and pearl exports. The country contracts out its national defense to New Zealand, which is four hours away by plane. But sand and sun are not the attractions for some Americans who have sent their money to the Cook Islands. Under Cook Islands law, foreign court orders are generally disregarded, which is helpful for someone trying to keep assets away from creditors.”

Asset Protection Strategies for Your Business

Asset Protection Law Journal: “There are a number of relatively simple strategies an organization can use to provide significant protection for its assets.”