What is Asset Protection?
Why make an asset protection plan? There are many reasons you should make a plan, mainly involving keeping your property safe in the event that someone wins a lawsuit against you. To avoid this, asset protection planning is key. This means taking assets and putting them out of reach of creditors, turning nonexempt assets into exempt assets. On the debtor’s side of the creditor-debtor law, sits asset protection. While the creditor is concerned with strategies for collecting, debtors are working diligently to protect their most valuable assets. To some, the act of asset protection sounds immoral. Shouldn’t one pay a debt that they owe? With proper guidance, asset protection can take place completely legally and ethically. This can be a tricky field to play so advisors need to be knowledgeable about debtor and creditor law, fraudulent transfers, tax planning, civil litigation, property laws, bankruptcy, and other related areas of law. It’s not about keeping secrets or defraud creditors. The goal is to provide an incentive for settling a claim, improve a debtor’s bargaining position, offer options when a claim is asserted and deter litigation. Another way to see asset protection is not only protecting your wealth, the plan is also in place to make sure you don’t get in more trouble for contempt or bankruptcy fraud. Many protection plans include offshore trusts. When choosing an offshore asset protection plan, you can take advantage of some of the best laws in the world. Creditors who are after your money will run into numerous roadblocks. By going offshore you can also use the foreign jurisdiction statutes that get you strong protection. Alpen Partners International is working with the leading tax and legal specialists around the world to advise its clients on the best structure to protect their assets. This typically involves setting up one or several companies or trusts and depositing the assets at one of the Swiss banks we work with, either in Switzerland or in one of the other jurisdictions where our partner banks have banking centers. Working with these specialists, Alpen Partners International has developed a strong expertise in offering asset protection strategies for clients from various industries. Our clients include public company executives, physicians/surgeons and business vendors close to retirement, all of whom typically don’t know of any potential creditors as of today but simply do not want to worry for their future finances.How do I make a plan?
The perfect, universal asset protection system doesn’t exist so it’s important to think about the goals and needs and, most importantly, to use common sense. When looking at your short-term and long-term goals you will discover important figures such as your current and future income, how much you will need to retire, and how much you want to pass down to your heirs. With this information, the correct protection plan can be formed. Examining your assets is the next step in determining your financial goals. Review which assets are exempt and which are not, moving those that are not to become exempt. This plan can also help with any assets that you plan on obtaining and protecting in the future. With the help of an expert, you will be able to understand your situation, needs, and risks. Protection plans are constructed to cater to individual or family needs. With Alpen Partners International, you can talk to experts to evaluate your needs and come up with the strongest plans. In recent years, Alpen Partners International has gained a large number of clients who had the right asset protection structures but did not seek the appropriate professional advice to protect their capital. Our investment strategy is well suited to achieve the objective of capital protection as we want to achieve positive absolute returns in all circumstances. For example, we have set up investment portfolios that are 100% capital-protected for our most conservative clients.When should I protect my assets?
Due to laws protecting judgement creditors against those who want to defraud a creditor, asset protection must begin long before any sign of lawsuit. If not, a court may conclude that the transfers were done in a fraudulent manner and the assets should therefore be turned over to the creditor. One of the biggest mistakes you can make is start planning once the lawsuit starts. Asset protection is a long term plan that can’t be done quickly or used as a temporary fix. You can actually make things worse by attempting asset planning after a lawsuit arises. If caught making a fraudulent transfer, the debtor and whoever assisted them can become liable for the creditor’s attorney fees and lose any hope of getting a discharge in the bankruptcy. All investments involve certain risks. All investments carry the potential for financial loss, including the loss of the principal amount invested. Past performance should not be viewed as an indicator of future results. Market conditions and broader economic factors can significantly impact the value of investments. Investments in international markets are subject to additional risks, such as currency exchange fluctuations, political or economic instability, and variations in accounting practices. Alternative investments, including but not limited to hedge funds, private equity, and real estate, may be illiquid, speculative, and are not suitable for all investors. The above information should be considered before making any investment decisions. All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.Interested? Contact us now
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Contact us to enhance your financial plan today.