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Offshore Asset Protection Losing Popularity
Anonymous
Posted: Saturday, August 13, 2011

Posted: 7/23/2010 2:14:03 PM

By: Offshore Atty

Interesting read, but the court ruling says this guy would be heading to jail with a domestic trust, an LLC, an under-the-table deal, or just about any other asset protection device you could hope to use.

The article omits a fundamental development in the federal courts... LLCs were thought to be great asset protection devices, but a number of federal courts have decided state law does not prevent federal courts from disregarding charging order limitations on single member entities... It is just a matter of time before the feds disregard multiple-member entities as well. In fact, the case cited by Forbes indicates that domestic asset protection trusts don't work!


Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 7/21/2010 10:53:56 PM

By: Steve Forbes

http://www.forbes.com/forbes/2010/0809/international-investing-asset-protection-trust-offshore-hide-money.html


Anonymous
Posted: Saturday, August 13, 2011

Posted: 8/3/2010 10:34:44 AM

By: Bhupinder S Sood CPA

People who seek offshore protection fail to realize that they are the the mercy of host country; and eventually pay their "dues"; there is no shortcut. I try to explain to my clients in this way. Also, investing offshore is not a problem but trying to hide assets is.


Anonymous
Posted: Saturday, August 13, 2011

Posted: 7/24/2010 10:59:30 AM

By: knightmare3000

with the new fianncial regulations that was just signed by President Obama and new money laundering regulations ( www.moneylaundering.com) , I doubt any one will even consider offshore anymore. thye may use it for investments, but I will tell you right now, it is filing a W-9 every step of the way with the offshore banks I deal with in europe


 

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