You've worked hard to accomplish the success you enjoy. In the modern world, there are two main threats to your wealth; taxes and litigation. We help you reduce your risk and your tax burden, legally and effectively.

Our team of experts create and manage a wealth protection plan that allows you to rest easy knowing your life’s work isn’t at risk. We provide a comprehensive plan tailored to your individual situation utilizing many asset protection tools including but not limited to: Limited Liability Companies (LLC), Limited Partnerships (LP), Corporations, US Grantor Trusts, Offshore Trusts, International Business Corporations (IBC), and Offshore LLC’s.

Our client base consists of entrepreneurs and investors from around the world. Many clients are new entrepreneurs that need direction in properly structuring their business entity. Many clients are seasoned entrepreneurs and investors that need more complex strategies in order to minimize their risk while maximizing their wealth. We believe in the power of capitalism as the growth driver in the world economic engine and we strive to help our clients create and preserve their wealth.

Over the past couple of weeks I have gotten an enormous number of inquiries regarding offshore banking and how this is implemented with asset protection planning.

For many of you reading this, you may already have an offshore bank account and possibly an offshore company in a place like Seychelles, Belize, Nevis, Cook Islands or Hong Kong.

However, there are clearly a large number of you still sitting on the fence and unsure of why you would ever want an offshore bank account.  There is also quite a few of you who aren’t even sure if it’s legal for Americans to set up an offshore company or offshore bank account.

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On the evening of December 31^st, 2011 the Obamessiah signed the 2012 NDAA (National Defense Authorization Act).  For those of you following the political news, you will remember that the president vowed to veto this bill because of sub-sections 1021 and 1022.

These 2 sub-sections deal with the detention of terrorism suspects.  The NDAA grants the president the authority to detain anyone, “who was part of or substantially supported al-Qaeda, the Taliban, or associated forces that are engaged in hostilities against the United States or its coalition partners,” or anyone who commits a “belligerent act” against the U.S. or its allies, “without trial, until the end of the hostilities granted by the authorization for use of military force.”

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This week I felt it would be important to address the topic, “What is Asset Protection?”  While you clearly have some idea what is involved in asset protection planning, I frequently get this question or some derivation thereof.

The quick and simple answer is that asset protection is a means of protecting your assets from future potential creditors or claimants.  From this perspective, a better definition may be that asset protection is a systemic approach to pre-litigation planning to deter lawsuits and encourage out-of-court settlements.

Another explanation may be that asset protection planning involves minimizing your personal and financial risks.  At Global Wealth Protection, we accomplish this with a 2 step process;

1. Create a veil of privacy for you and your assets
2. Create legal structures to segregate you from your assets while maintaining maximum control

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This week I want to stress the importance of developing your own asset protection plan now as opposed to later when it can potentially be too late.  In last week’s article, “Svetlana Takes Victor to the Cleaners”, we discussed Victor’s problems and how they could have been avoided if he had set the structure in place before his divorce.

For the past couple of days, I have been working with 2 clients who also wished they had a properly structured asset protection plan in place before they were sued.  I won’t get into the details, but Susan and Frank now have a $1.4M judgment against them in relation to a real estate deal that unexpectedly went bad.

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