Throughout this time, we’ve realized that in order for us not to fall into such helpless situations, we need to be vigilant and think of countermeasures to protect every cent of what we have rightfully earned through our hard work. Some who purchased insurance find out too late that this provides a feeble security and does not fully shield family’s assets against unforeseen liabilities, or find out later that their current dilemma cannot be covered by insurance policies.
What does the law offer to the public against these dire events? Asset Protection (AP) is a myriad of legal strategies, financial tactics, and careful planning that offers protection against lawsuits, creditors and any financial risks that one might encounter through the course of his business and asset handling. In the United States alone, there are a wide variety of effective methods that can be used such as trusts, corporations, Family Limited Partnerships or Limited Liability Companies that might cater to your distinctive need. A lot of onshore legal advisors are also available to help out in giving you estate and asset insulation.
Seeing that the economic crisis has hit worldwide, the interest over estate and asset protection has also become an international issue. Even those expatriates seeking financial refuge in other countries have been concerned and are looking for more options on how to either completely avoid losses, or cut their losses to a minimum.
So if you are one of those people who wants to take on an active fight for every hard-earned cent – Act now! It’s best to have a list of your current assets, your objective or purpose for the undertaking, and to heed the experts’ sound advise as to the proper timing and seamless transfer of property or assets for this to be considered legally and ethically appropriate