Help Yourself Leaving The Asset Protection Consulting Experts To Help You
These days, good asset protection consulting has become very important, since you can be sued for almost everything. Just when you think your behavior has been all pristine, you wake up in the middle of a lawsuit, ruining your bank account, your life and maybe even your good mood.
Nowadays, asset protection consulting experts talk about Direct and Indirect Liability as one of the dangers that could threaten your assets. That means that, instead of being sued for something you might have done, you get sued instead for something some one else did, like one of your employees, or your business partner, or even your significant other. All it takes is that you and the defendant are connected in a way or the other. Instead of someone else taking the fall, it's going to be you, for one simple reason. Because that 'someone else' does not have any insurance or any assets. Or neither. This is why asset protection consulting must become an important part of your life, should you want it to be carefree and peaceful.
Some asset protection consulting experts will recommend that you purchase insurance for each of the assets you own, like your house, your car, your lawn mower or your boat. And for each and every one of these you'll be recommended to invest at least $1million. This is just leaving aside the money that will be spent on attorneys, plus the time wasted in court and the obvious stress. Any good asset protection consulting company will be able to show you the risks: every year people lose millions in lawsuits that are close to absurd, like $5.87 million lost for sponsoring a party where a guest later caused an auto accident.
So, how can you protect yourself from such incidents? Well, for starters, visit an asset protection consulting company. The first advice that will be given to you would be to become "judgment proof", that is, you have no insurance, you do not own any assets that could be seized during a lawsuit. Before being sued, the lawyer carefully examines your ability to pay, and since you cannot pay a thing, the lawyer will not want to sue you. Easy, right? But where does asset protection consulting come in? Or, in other words, how can you become Judgment Proof?
The answer any asset protection consulting expert will give you is "private interest foundations and offshore corporations". If you own a domestic corporation, there is a little protection that you are provided with. On the other hand, your shares in this corporation can be regarded as assets, therefore they can be seized. So the reliability is low in this case. Offshore corporations, on the other hand, can legally own both real estate and vehicles that are in your country. Even better, you can choose different offshore corporations for each and every one of your assets. Because, by being offshore, these assets will become immediately protected from taxation, unnecessary governmental meddling, or unwanted relatives trying to get a piece of the cake.
A good asset protection consulting company can help you distribute your assets to the right offshore corporations so that you needn't worry about frivolous lawsuits. And most of the consultants will advise Panama as being the perfect place to protect your assets. Why is that? Because Panama has something called Bank Secrecy Laws. All your accounts will remain private and confidential, within the Panamanian banks. It is the only country that still has these regulations.
We live in a world where people make a living out of suing others, for all the crazy reasons. Asset protection has become a must and that is why asset protection consulting is of paramount importance. Experts can explain, guide and take care of all your valuables and indeed make life a bit easier for you.
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