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10/18/15: Going Global for Privacy, Asset Protection and Tax Savings

Asset Protection Strategies to Help Protect What You’ve Built

Most people invest in real estate for building wealth to enjoy then pass on to their family. But because of poor or little asset protection strategies, some investors lose huge chunks of their assets to lawsuits and taxation.

That’s sad.  And it’s largely preventable.

But in an age of hackers, surveillance and money hungry governments, it’s never been more important to structure your holdings for maximum privacy, protection and tax mitigation.A good asset protection strategies structure takes into considerations threats and vulnerabilities relative to each and every asset in your portfolio.

And just like many businesses have had to go global to find better opportunities, many investors are finding it’s wise to go global for find better privacy, asset protection and tax savings.

So we decided to sit down with an international attorney to see what we can learn about international asset protection strategies for real estate investors.

Manning the microphones for this foray into broadcast brilliance:

  • Your shining star of a host, Robert Helms
  • His dim lit co-host, Russell Gray
  • International asset protection attorney and returning guest, Joel Nagel

Most people hate playing defense.  Everyone wants to score points and get attention.  It’s true on the playground…on Wall Street…and on Main Street.

Sometimes we get so busy building wealth we forget to protect it.So we all run around with our hair on fire building wealth.  We start businesses, buy investments and educate ourselves about how to make more faster.  It’s fun!

But not everyone plays fair.  Some people would rather take than create.  And they look at you with disdain and your assets with envy.

But enough about the government…

The fact is there are COMPELLING reasons to set up legal structures which keep your wealth private and safe from takers.  And the SOONER you do it, the easier it is.

In simple terms, an asset protection structure provides legal entities to control (management), own (holding) and operate (property or business specific).

The separation between entities effectively creates “firewalls” which make it harder for a predator attacking a liability producing entity (like the one operating one of your rental properties) from getting to your treasure chest (the holding company).Your holding company is where you store all your assets...far away from prying eyes and financial predators.

Of course, you can do all this in just one state jurisdiction, but a single state structure makes it easier for a predator to find everything you have and then attack it using only one lawyer.  That’s WAY too easy.

To make it harder for predators, you can use multi-state structures.

Using multi-state structures makes it take longer to find everything and connect it back to you.  And it means the legal action needs to be brought in different jurisdictions, which often means more time and expense for the predator.

Also, some states have systems and laws which are more conducive to privacy.

Sometimes the best way to avoid an attack is to not make yourself a tempting target by hanging all your assets out in public view.

So a little complexity with asset protection strategies can go a long way in deterring a casual plaintiff from retaining a lawyer on contingency to see if they can harass you into a settlement.  Attorneys working on commission aren’t fond of complex cases which take a lot of time and expense to research.

Going global is a lot like going multi-state, but better.

Some countries have REALLY private systems where it’s nearly impossible an uninvited and unwarranted asset search would reveal your holdings.   And many foreign countries do not recognize U.S. judgments or subpoenas.

Some countries have laws which provide substantial privacy while not recognizing US judgementsSo even if a predator finds an asset off-shore, now they need to work through a foreign legal system in an attempt to win a judgment.  This alone can be a huge deterrent to a predator.

And that’s just privacy and asset protection.

Tax savings can be another strong reason to consider a foreign arrangement.

It’s been widely reported how companies like Apple, Google and General Electric (to name but a FEW) utilize PERFECTLY LEGAL offshore structures to generate and store profits…away from the voracious appetite of the IRS.

The good news is you don’t need billions of dollars for these international structures to make good sense for you. The right asset protection strategies may just take a bit more research and discovery.

So listen in as we visit with international asset protection attorney…and newly appointed ambassador to Austria from Belize…Mr. Joel Nagel.

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