What is Asset Protection

Keys to an Asset Protection Plan         Watch the video on What is Asset Protection   Like this video? Subscribe to our channel.   “LATE-R” is already too “LATE.”   “If you’ve taken NO steps to protect yourself, your wealth, and your family from thieves, con artists, ruthless greedy lawyers, overzealous bureaucrats; you have underestimated the abilities of these shrewd, ruthless, invasive, money-hungry, predators.” – Rocco Beatrice, CPA, MST, MBA   Definition:   It’s the concept of protecting and preserving one’s assets from frivolous, illogical, ill motivated, more often than not, devastating catastrophic claims against your wealth, designed to destroy your current and future lifestyle. In short, they want what you’ve got and they want to inflict maximum pain.   Asset protection has two goals: To make the enforcement of judgments against your protected assets virtually impossible, and To allow the “owner” of protected assets to retain engineered “control” over his assets   Learn the 3 core secrets to protecting you assets by clicking here     How Good Asset Protection can Protect Your Privacy:   “Identity Theft” is the fastest growing financial crime in America – source: the U.S. Secret Service   There are literally hundreds of ways to protect your assets. Some are just common sense. Don’t flash your money around; don’t talk too much at parties, etc. By implementing a properly crafted asset protection plan, your creditor will have to jump through several hoops, before he even finds your money. A contingent fee predator lawyer will want an easier target.   There are approximately 950,000 lawyers. Just go through your own yellow pages. Most of them live on what they can “squeeze out of you.” Don’t become a statistic. Learn from other people’s mistakes. Learn how to become every contingency-fee lawyer’s nightmare.   The Internet is spyware on steroids and can be used as invisible wealth snatchers. Information collection about you, your associates, your family, your finances, has been compromised by the enhancement of data gathering technology through the internet. “Even if you’ve got nothing to hide” your very basic privacy can be had for a few bucks by thieves, con artists, ruthless greedy lawyers, and overzealous bureaucrats.   How “paranoid” are you? How “paranoid” should you be? the problem is not the zillion merchants collecting data about your spending habits. The problem is who’s collecting the data without your knowledge. And, for what purpose?     A Good Plan will:   Protect your current and future lifestyle Discourage litigation and promote settlements, in your favor Keep the ownership of your assets confidential and hard to find Eliminate the need of prenuptial agreements Internationalize your investments as a hedge against the unexpected surprise Spread out your control over your most valuable assets Help you in getting a fresh start, if you ever became insolvent in any of your other assets Hedge against potential political, economic, and personal instability   Chartered Blueprint of Wealth Preservation and Steps to Protecting Assets: What are your financial goals? Think about each of your personal/business assets that you need or wish to protect Will there be domestic and/or international platform(s)? Select the legal entities: Ultra Trust® Limited Liability Company (LLC) Foreign Limited Liability Company (FLLC) or Foreign entities such as: Foreign Bank Account, International Business Company, Foreign Trust, Foreign Security Trust   Steps to Asset Protection (Expounded):   Your financial goals should be: Protecting Assets / wealth preservation Defer your Capital Gains Taxes Defer, reduce, possibly eliminate your “Income Taxes.” Eliminate “Probate Jail” and Eliminate ALL your “Inheritance Taxes.” Determine your personal and/or business assets which may include: Personal residence Personal checking Certificates of deposits Investment accounts Broker stock accounts Other real Estate Life insurance policy(ies) Automobiles, boats, planes, collectibles, antiques Individual retirement account(s) Inheritance #1, Inheritance #2 Business #1 Cash, Accounts receivable, Inventory Equipment, Goodwill, Other assets Business #2 Partnership interest #1 Partnership interest #2 Note: Same planning applies for each of your business assets What are your financial goals: Domestic or Foreign/International Your financial goal(s) points: 1,2,3 & 4 OR combinations of 1+4 OR 2+4 OR 3+4, etc. Domestic Platform(s): Irrevocable Trust or Revocable Trust Grantor Trust or Non-grantor Trust Living Trust Insurance Trust Personal Residence Trust *Ultra Trust® Corporation General Partnership Limited Partnership Family Limited Partnership *Limited Liability Company (LLC) *Family Limited Liability Company (FLLC) *Customized Hybrids, i.e. LLC, Family LLC, Limited Partnership, Family Limited Partnership or General Partnership is owned by an UltraTrust® * = My preferred structures Foreign Platform(s)1 (please read note – 1) Foreign Bank Account International Business Company Foreign A/P Trust Foreign Security Trust Foreign Limited Liability Company (FAPT) Offshore Uni Trusts Offshore Mutual Fund International Trading Company Multi-Currency Bank Deposits Swiss Annuities Foreign Credit Card Foreign Stock Trading Account Registered Foreign Office Registered Foreign Sales Facilities Note – Use “Good” planning NOT “Secrecy.” Rely on “Law” NOT “Secrecy.”   1**Watch out for Foreign and Offshore Scams & Practitioners**   There’s a thriving industry of “offshore practitioners” advising IRS definition of “U.S. Person” to set-up offshore bank accounts and other financial structures thinking that they have “just become NON-U.S. Taxable.” They persuade the U.S. Persons to trust the “Iron Clad” secrecy laws of the jurisdiction and not to report ownership of their funds or structures to the Internal Revenue Service and other agencies. This is pure and simple tax fraud and gets many U.S. Persons in trouble.   WARNING: Complexity(ies) of U.S. laws requires many tax reporting and other various reporting requirements. Protect yourself, make absolutely sure that you seek competent professional expert legal, accounting, and tax advice before you consider implementing your foreign A/P plan. Contact Estate Street Partners and get the facts for proper U.S. reporting procedures. Authorities are looking for NON-COMPLIANCE, not for those who report and comply. We believe in full disclosure. If there’s no reporting form, we make-up our own and file.   To my knowledge, there are no laws prohibiting you from protecting your hard-earned money with offshore international structures, as long as you file