You’ve worked hard for your money. Now, it’s time to protect it with proven asset protection strategies.
Once you reach a certain level of wealth, it may seem harder to keep your money than make it. While it’s true that there are a lot of liabilities to worry about, especially for higher-risk professions like doctors, business owners, and executives, the right legal guidance can provide you with the protection and peace of mind you deserve.
Keep reading to learn how international asset protection helps protect your wealth and how Harbor Law can help make it easier.
Why Should You Consider International Asset Protection?
While there are various ways to protect your wealth, many consider international asset protection strategies one of the strongest. The primary reason is that leaving the jurisdiction of the United States means gaining access to different economic, political, and financial landscapes. In some of these places, it becomes easier to protect, anonymize, and even grow your wealth.
Here are a few benefits of international asset protection.
More Protection from Judgments and Lawsuits
Perhaps the most common reason people choose international asset protection is the added security from lawsuits and judgments. When assets are held in foreign countries (and established correctly), it becomes harder for domestic courts to seize them.
Offshore trusts are especially effective for protecting your wealth from seizure because they add an additional layer of separation from your personal assets using a trustee.
Diversified Risk Profile
Diversification is essential for minimizing potential losses, especially when it comes to volatile markets or political landscapes in your home country. When you hold your wealth in other countries, you spread your exposure across multiple jurisdictions. This means that if the local economy collapses or there’s political unrest, you have assets in other markets that won’t be as affected or accessible to them.
Privacy and Confidentiality
Offshore asset protection structures often provide enhanced privacy and confidentiality. In many countries, the ownership details of certain financial accounts, trusts, and companies are not readily available to the public, which can help you keep your financial affairs private and avoid unwanted attention.
What Are The Risks of International Asset Protection, and How Can Legal Guidance Help?
International asset protection can provide extensive security for your wealth, but only if you establish and structure your accounts correctly. To avoid costly mistakes, you need to work with a legal expert.
Here’s where Harbor Law can help.
Jurisdictional Differences
Navigating another jurisdiction’s legal system can get incredibly complicated. With each country having its own laws and regulations, you need someone who has experience establishing investments in other jurisdictions to ensure you have proper protection.
Improper Structuring Voiding Protection
Whether you use trusts, foundations, or offshore companies in your asset protection strategy, it’s crucial that each entity is structured correctly to ensure you receive the protection you’re expecting. Your attorney can also make sure any transfers to the offshore accounts are legal both domestically and internationally so you can reduce total liability.
Tax Compliance
Tax problems are an easy way to complicate your asset protection. Improper handling of taxes in both your home and host countries often brings costly fines, making legal expertise invaluable when optimizing your tax strategy.
Reduce Your Risk with International Asset Protection from Harbor Law
At Harbor Law, we understand that asset protection can seem complicated and intimidating. Fortunately, we have extensive experience working with multiple jurisdictions to maximize our clients’ privacy and protection, offering peace of mind and helping you preserve your wealth.
Don’t trust your asset protection to just anyone. Reach out to talk to an expert attorney today.
