Offshore Asset Protection

Cover Your Assets

Offshore assets are a great way to generate and secure investments. However, they can also be very vulnerable to economic crashes, international taxation, identity theft and fraud, and tax compliance laws. That’s why it’s very important for people with offshore assets to ensure that they’ve taken every measure they can to avoid having their assets corrupted or seized using offshore asset protection.

One of the first steps is to make sure that you consult with an offshore asset protection specialist who knows the details and legalities of international tax laws: namely an international tax lawyer. He or she will be able to view your accounts to make sure that you are in full compliance with the proper tax lawyers, and that you are reporting the income and assets you need to be reporting. Not being in tax compliance can land people in serious financial or legal situations, and can even sometimes – in very extreme cases – lead to jail time.

Plan for Your Future

Having a plan in place for your offshore asset protection is an important step to take for your and your family’s future. A well-devised plan will help discourage potential attackers from going after your assets by making frivolous claims. You’ll also be able to segregate liabilities and secure your assets to the greatest legal extent by setting up corporations, trusts, and other entities.

People work hard for what they have, so it’s natural that they want to keep their monies and assets out of the pockets of the IRS or other potential attackers. Working with an experienced lawyer who specializes in offshore asset protection will help you do just that. He or she will provide you with creative – but fully legal – ways to ensure that your assets are protected in the most secure ways possible.

Not Just for the Rich

Many people think that offshore assets are just for the rich, the famous, and/or the criminal. That’s not true at all. Some foreign entities offer better asset protection than a person’s home country, which is why an increasing number of "average" people (ie. the NOT filthy rich, ridiculously famous, or dastardly criminal) are choosing to secure their assets in overseas accounts using offshore asset protection.

If you don’t currently have offshore assets but are thinking of getting some, make sure you consult with a lawyer to ensure that you set up your accounts in the most secure way possible. Offshore asset protection not only offers peace of mind, but it also offers privacy, so that you can manage your affairs discreetly, albeit legally.

Manage Risk

One major part of offshore asset protection is risk management. When you consult with a lawyer, he or she will be able to assess any areas of risk or attack you may be open to. Risk management is a proactive technique; it identifies areas of potential weakness and works to safeguard those areas against exposure or attack. To ensure the best offshore asset protection, it’s important that clients meet with their lawyers every few years to re-assess how protected they are and identify any new areas of potential risk.

Esquire Group, a boutique international tax advisory firm specializing in tax consulting, tax planning and compliance and helping corporate and individual taxpayers with Offshore Voluntary Disclosure Program, asset protection ( EsquireGroup.com/Offshore-Asset-Protection ), and US expat taxes. To learn more about us, visit Esquiregroup/About.

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