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Home > Services > Domestic Wealth Planning > Asset Protection > Asset Protection Planning
Legislation has been enacted in many countries and is now being enacted in individual states leglislating regards with rights of individuals concerning the protection of their assets.
The evolution of the industry has taken the notion of Asset Protection from Caribbean trusts and defrauds to legislative legal tools. Many people think of Asset Protection as an offshore service. In general, offshore services have added superiority over domestic services; however, offshore services are not necessarily the correct choice for all assets.
Offshore centers call Offshore Financial Centers (OFCs) are now regulated by FinCen. An Offshore Financial Center is an area officially designated by the International Monetary Fund
(IMF), to be a place of offshore banking, investment, incorporation, company formation, foundation formation, trust formation, insurance and other vehicles of wealth preservation and asset protection.
The IMF is an international organization of 185 member countries that oversees the global financial system by observing exchange rates and balance of payment as well as offering financial and technical assistance. It was established to promote international monetary cooperation and exchange stability and orderly exchange arrangements to foster economic growth and high levels of employment and temporary assistance to countries that need help in these areas.
Domestic Asset Protection involves using the advantages in terms of taxation and protection of the local, regional and national governments. The techniques for each vary depending upon the jurisdiction. Many people choose their residence and even their citizenship by the advantages offered for protecting their assets.
Asset Protection exists to increase quality of life. It is in best public interest to control litigation and protect the assets of people. Asset Protection Plans often leave a certain portion of wealth exposed to cover anticipated liability, but secure the majority of assets in safe harbor.
All Asset Protection Planning should be done during the time that the person is free from creditor and litigation attack. If a person transfers assets during financial stress, it could be construed as Fraudulent Conveyance, which is punishable by incarceration and loss of the asset.
One attitude that cannot be tolerated in medicine is a lack of care or apathy. We feel physicians should exercise the same standard of care toward their accumulation of assets, property and wealth.
Written by the foremost expert in the country!
Physicians and their Advisors Will Gain a Practical Guide in the Following Subject Areas
►Asset Protection
►Estate Planning
►Income Tax Reduction
►Financial Planning
►Office Management
►Corporate Structure and Protection Structures
Learn how to protect your personal and business assets from disgruntled patients, creditors and divorce through the use of domestic and offshore planning tools.
Estate Planning - Learn how to avoid the most common estate planning mistakes that could cost your heirs $500,000 - $3,000,000 or more and learn how to avoid the 70-83% tax trap.
Income Tax Reduction - Learn how to reduce your income taxes by $25,000 - $200,000 annually while avoiding the tax avoidance shams in the marketplace.
Financial Planning - Learn how to protect the principal of your investments while still giving yourself the opportunity for upside growth if the stock market performs well.
Office Management - Learn several practical and easy to implement solutions that will help you run a more efficient and financially sound medical practice.
Asset Protection Planning Part 3 concentrates on the protection of personal residence, business acco ...
Trustmakers Estate Tax planning provides advisor direction and guide information on protecting your estate.