Choosing an Asset Protection Advisor
How to choose an Asset Protection Advisor
This is one of my favorite topics, because itís so simple, and an enormous amount of energy is spent on this issue. One of the first questions Iím always asked is: How do I pick a trustee, or how do I decide where to put my trust? And the bottom line is, it normally doesnít matter provided the trust is properly structured so that youíre never vulnerable to the asset protection advisor, and provided the trust is settled, meaning put into a place and funded, when the financial seas are calm.
As long as your trust is set up without any risk of fraudulent conveyance, you should pick any solid country that recognizes trust. Any place will do. If we have to migrate the trust because problems come around at a later date, itís a simple matter to do that. You simply fire the trustee in one country and hire an asset protection specialist in another that normally, in a properly done trust, will change the situs, and it will expose the creditor to a whole other set of difficult to overcome laws.
But thereís no need to go to some fancy asset protection favoring country on day one. In fact, that can be a negative. Certain places, like the Cook Islands, have spent such a great deal of effort promoting their asset protection business, that theyíve attracted a lot of the "scumbags" of the world. You want to avoid places that are perceived as tainted in any way at all. So go to a nice, clean country that recognizes trusts, and hire a solid trustee. That solid Asset Protection Advisor should not charge you more then $2000 a year. And that solid trustee should never ask for access to your money. I never, ever, give the trustees control over my clientís money, because that exposes the money to theft, and itís not necessary to have that in a solid plan. In addition, I never, ever, go to a country that is perceived as even potentially dirty. Thereís no need to. Thereís plenty of great places that are just as good and actually quite inexpensive.
Now, choosing an expert. Thatís a different story. Your expert should be somebody I have discussed before, with solid tax and solid international experience. The Asset Protection Advisor should be willing and, in fact, encourage working with your local lawyer and should encourage working with your local CPA. The person should offer several references, and you should check them carefully. Unless you can have all of that, and somebody who doesnít promise the moon, or anything thatís too good to be true, you should be just fine. Thereís a handful of really qualified asset protection experts in the country, and asset protection specialists all are willing to give references and let their past work speak for themselves.
ASSET PROTECTION EDUCATION
- State Laws
- Umbrella Insurance Policy
- Asset Protection Ethical And Moral
- IRA Private Letter Ruling
- Asset Protection Key Concepts
- Family Trust
- CHOOSING AN ASSET PROTECTION ADVISOR
- Transfer Assets To Your Spouse
- Asset Protection FLP
- Asset Protection Privacy
- Asset Protection Facts
- LLC Asset Protection
- Spendthrift Trust
- Reasons For Asset Protection
- Asset Protecting
- Types Of Trusts Spendthrift
- LLC For Asset Protection
- Types Of Trusts
- Asset Protection
- Case Study
- Asset Protection Concepts
- Types Of Trusts QTIP
- Delaware Trust
- Dynasty Trust The Basics
- Asset Protection Bankruptcy
- Protecting Your Assets
- Asset Protection Education
- Asset Protection Ethics
- Asset Protection Lawsuit Prevention
- TrustMakers Forms Center
- TrustMakers Site Map
Learn more about protecting your assets with these articles:
If you are looking for the most important concepts in Asset Protection, this is where to start! If you need to talk intelligently about protecting your net worth or you are a professional this online training program is for you!
Get our Free Online Asset Protection Video Course.
Learn how to protect yourself like the pros!
Clear, concise and straight forward, this e-Book will help you make sound decisions with your business and personal assets..
This e-course will give you straight forward asset protection advice you can implement now. One of the best asset protection courses available! Includes 70+ video lessons, 3 Ebooks, and 6 example legal documents!
The key to a solid Asset Protection Plan is the Estate Plan. This downloadable estate organizer will help you keep track of important information about your assets and important legal documents all in one place.