Hire a Reputable Offshore Asset Protection Lawyer in Florida To Ensure the Safety of Your Assets
One of the highly sought and lucrative ways of ensuring the safety of your assets is through agreeing to an offshore trust or bank account to maintain their security. Opening accounts in foreign banks and brokering trust agreements is not something the average person can do without exposing themselves to risks.
Protecting your assets offshore requires necessary paperwork and due diligence to ensure that no corners are cut and more importantly
What is Offshore Asset Protection?
Offshore asset protection is a common practice that routinely involves forming a business or trust in a foreign country with favorable legal jurisdiction. Assets sent offshore are then placed under the management of managers or trustees that are not citizens of the United States and do not have any business or legal presence within the U.S.
Sending assets offshore is a highly common practice for those individuals that have a significant hold of assets and are vulnerable to higher risk such as legal liabilities. Moving assets offshore provide an extra layer of security of those assets and away from any current or future legal battles or creditors with jurisdiction well beyond the United States.
What type of assets can be protected offshore?
- Limited Liability Companies LLC
- Intellectual Property
- Equipment or inventory for a business
- Recreational and luxurious assets like cars, yachts, private jets, etc.
- Generally speaking, anything that holds significant value and holds high monetary value
Sending assets offshore does not hide assets & make them not exempt from taxes and being reported.
The biggest misunderstanding shared about offshore asset protection is that it’s used to dodge taxes and “hide money”. Now, A lot of offshore trusts and banks may operate privately and away from the public eye, that does not mean these assets are being hidden and withheld from reporting and taxes.
Why should you hire an experienced Florida offshore asset protection lawyer instead of doing it yourself?
Creating an offshore trust or business, or even opening a foreign bank account can get rather complicated really quick to those that are unaware of the best practices & jurisdictions for your specific needs. Finding a good jurisdiction could take someone days if they are not fully aware of asset protection laws and the legal system of the foreign countries. Without knowledge and awareness of how to properly navigate this procedure, you put yourself and your assets at risk of being seized and/or lost.
Without proper guidance and assistance from an educated and trained offshore asset protection attorney, individuals preparing to send assets offshore run a high risk of mismanaging and could cost them come tax season or when facing a legal battle.
Many people can benefit from offshore asset protection and this not something only the overly wealthy can do. This is a great option for real estate investors, business owners, medical & health professionals, and even middle-class workers that are interested in protecting their assets.
Learn more about the various jurisdictions and options you have by calling a highly reputable offshore asset protection lawyer in Florida like MW Patton Asset Protection Lawyers. With a diverse list of clients and extensive history managing offshore asset trusts, we are capable of ensuring your assets are properly maintained and secure. Give us a call and we’ll see how we can help get the ball rolling on your offshore asset trust planning.