Frequently Asked Questions
How does asset protection discourage
How does asset protection work
and which assets are most at risk from attorneys and creditors?
Do you protect from IRS tax liens?
What are the goals and purposes of asset
Why do I need you? Can't I form a corporation on my own?
If I have a nominee officer, can't he/she steal all my money and assets?
What if I need to borrow money later? How do I do that, if all my assets are hidden?
If the bank knows who I am, doesn't that diminish my privacy?
I'm being sued right now. Can I move my assets into an asset protection program to avoid the judgment?
I already have a corporation in my home state. How will a Nevada corporation work with it, and should I even have a Nevada corporation?
Is it legal and ethical to protect my assets?
Why should I incorporate in Nevada or Wyoming?
Does Nevada or offshore jurisdiction exchange any information with the U.S. on demand?
Do I need to provide any personal information to get a Nevada corporation?
Do I need to provide any personal information to get an offshore corporation?
How do I know if I even need asset protection?
Can I transfer my Delaware corporation to a Nevada corporation?
Can a Nevada corporation own a corporation in another state?
HOW DOES ASSET PROTECTION DISCOURAGE LAWSUITS?
Before any lawsuit is
filed, the attacking attorney does an "asset search" on you, looking
to see if you own sufficient assets to satisfy a judgment and if the
attorney's 40% fee for assets collected in the lawsuit is enough to
tempt him. The goal of asset protection is to reduce your
visible ownership interest to a minimum while increasing your
control over your assets to a maximum. The legal system is
set up so that you can only lose what you own, no what you control.
If you show little or no ownership, attorneys will skip you and go
to someone else where the rewards are easier.
HOW DOES ASSET
PROTECTION WORK AND WHICH ASSETS ARE MOST AT RISK FROM
ATTORNEYS, AND CREDITORS?
Asset protection is the
process of transferring assets into legal structures in which your
personal ownership interest is shielded, minimized, or turned into a
control rather than ownership interest (you control your assets but
appear not to own them). Number one type of asset at risk from
attack is real estate
equity. Equity is current market value of a property minus any
mortgages on the property. It is the easiest asset for any attorney
with a judgment to attach. Next - bank accounts.
Attorneys can lien or seize them.
Other assets that can be liened or seized include cars, boats,
planes, personal goods, accounts receivable - anything of value.
YOU PROTECT FROM IRS TAX LIENS?
No. We do not do anything
in any way to frustrate IRS collection efforts. There is no legal
protection from the IRS in collection of taxes due.
WHAT ARE THE GOALS AND PURPOSES OF ASSET PROTECTION?
1. Maintain your
family's security. You work hard for it and you need a lifelong
plan in place to keep predators from taking that security from you
in the form of unexpected risks, liability, lawsuits, financial
2. Level the playing
field. Imagine sitting down to a chess game in which your
opponent allows you to make the first 5 moves. Could you set the
board so your opponent has no chance of winning? Yes! This is
exactly what you do with your assets before there is an opponent.
3. Negotiate a
favorable settlement. You increase your assets' safety by
creating a climate with asset protection in which you will be in the
strongest position to negotiate favorable settlements in any
litigation or proposed litigation. Truthfully answer all questions
without fear your opponent can get any of your assets.
WHY DO I NEED YOU? CAN'T I FORM A CORPORATION ON MY OWN?
Yes, but the key to asset protection is utilizing the proper clauses
in the corporate structure and operating agreement to achieve
protection from lawsuit. Unless you're an asset protection
attorney, you will not know the clauses to use. The key to asset protection is privacy, and a Nevada corporation without
the proper supporting legal documents and expert instruction on how
exactly to move assets into the corporation or use it to protect
assets is useless for that purpose. You can get a Nevada corporation on your own cheaply, but if you inquire about nominee service, registered agent service, or
required operating agreement, you will find those to be huge, extra fees (if you can even get those services). No one offers the combination of service and price that we do -- we guarantee it.
In 20 years of doing business, none of our clients has been sued
successfully nor has anyone lost any asset for any reason to anyone. No one else offers our unlimited, 24/7 once you have your corporation.
We can prepare equity stripping liens with consideration (the #1 asset protection strategy of all top real estate developers and America's wealthiest families) for you, saving you hundreds to thousands of dollars per lien with other professional lien services. Our clients are part of our family and are treated as such, with superb customer service. You will always know the best and most effective way to use your corporation.
IF I HAVE A NOMINEE OFFICER, CAN'T HE STEAL ALL MY MONEY AND ASSETS?
No. Nevada corporate law states that the shareholder(s) are the owners of the corporation. The officers are 'employees' of the shareholders and cannot execute any transaction without shareholder approval. The officer(s) have no ownership of any asset contained in the corporation.
Nevada allows managing members of a LLC to have no ownership
position in the LLC. In your Nevada and/or offshore corporation, YOU are the only shareholder. Your corporate banking is designed so that YOU
alone control it and are the only one with access to the account,
while remaining shielded by the corporation that you are anonymous
behind. A nominee director functions in a fiduciary capacity like
your stockbroker or accountant. You cannot have asset protection
without being shielded behind someone else, and an experienced
nominee is ideal for that purpose.
HOW DO I BORROW MONEY, IF ALL OF MY ASSETS ARE SHIELDED?
There are many ways. You can get a no-income, no-qualifying mortgage or loan if you need to buy property. They may loan only 70% of the value rather than the 80% you get with asset qualification, but these loans still are easy to get. They use the property itself as collateral and you don't have to show income or assets.
Also, banks will always give you unlimited credit cards. With several of these, you can raise a lot of cash quickly.
You may need to show some assets, but at least you can keep them to
a minimum, while concealing the bulk of your assets in the
IF THE BANK KNOWS WHO I AM, DOESN'T THAT DIMINISH MY PRIVACY?
Yes. Any good attorney or investigator can find you as a signatory on any bank
account in the U.S. But merely being a signer does not make you
liable for the corporate account. No one who is after you can touch
the corporate account because the account is the corporation's, not your personal account. You cannot be traced through the corporation's tax i.d. You can appoint someone else as signer for your corporate account (with full security safeguards in place, of course) so that you can bank with total anonymity in the U.S.
Normally, if you're signer on your offshore account, you fall under the controlled foreign corporation law and must report income in this account to the IRS.
We set up the offshore account in such a way that you are not
visible as signer and do not fall under this reporting requirement. No one in the U.S. has jurisdiction over your
offshore account. Bahamas law strictly prohibits the disclosure of any information about anyone owning a Bahamas corporation to any outside, third party. When we form your Bahamas corporation, the Bahamas government never even knows who you are, and never is given any information about you.
I'M BEING SUED RIGHT NOW. CAN I PROTECT MY ASSETS FROM THE JUDGMENT?
Asset protection is a pro-active strategy, not a re-active strategy.
Courts will NOT allow you to move or encumber assets once a lawsuit is filed against you. You must have your asset protection program in place BEFORE creditors, the IRS, collection attorneys or any attorney suing you, come after you
and preferably at least a year or more in place before trouble
starts. We get many calls a week from people who wait until they're sued, then beg us to protect their assets so they don't lose anything in the lawsuit. That is not possible, in the same way that you cannot get fire insurance while your house is burning down
- you can only get it while the house is fine, before it catches on fire. ASSET PROTECTION MUST BE SET UP BEFORE ANY TROUBLE STARTS, in order to completely avoid that trouble. Please be one of the savvy, proactive people who does not wait for trouble, but heads it off before it strikes.
This is a major reason the wealthy become wealthier - it is not so
much that they make more money, but that they always have strategies
in place not to lose the money they have, either to lawsuit or bad