It’s no secret that the most sophisticated asset protection strategies leverage offshore asset protection vehicles. Protection of wealth, transfer of property, and distributions to beneficiaries are all traditional estate planning provisions that can be executed legally under offshore law.
The demand for legal and enforceable offshore asset protection strategies has grown tremendously since enacting laws in investor-friendly foreign countries during the 1980s. Since the pandemic, the demand for International Asset Protection attorneys and their services has risen dramatically.
A commonly used trust is the International Asset Protection Trust (IAPT). Similar to the U.S. domestic irrevocable trust, only with countless additional benefits and safeguards to protect wealth governed by offshore law.
Is Offshore Asset Protection Legal?
Don’t be misled by the vivid depiction of offshore account holders depicted by moviemakers. Americans can legally own and invest in assets to protect and grow their financial portfolio. In fact, some of the U.S. leading financial advisory and investment firms maintain offices in foreign countries, including the prestigious and well-respected Ernst and Young.
What is key is that policies and offshore laws be followed. Then appropriate payments are made to the IRS for applicable U.S. taxes on foreign income. Americans have every right to shift their wealth into foreign accounts or entities over time. Penalties and illegal actions are pursued only when tax code violations occur.
Experienced attorney Christopher Nudo has helped clients manage, protect and plan for the generational distribution and transfer of wealth using offshore asset protection strategies. During a confidential consultation, he can explain the benefits of the most used offshore protection mechanisms, which include:
- International Asset Protection Trusts
- Captive Insurance Companies
- Offshore Equity Stripping
- International Businesses and Entities
- Foreign LLCs, including Nevis and Cook Island
Schedule a consultation with Christopher today to understand how you can leverage offshore asset protection vehicles to prevent loss and secure your wealth.
