Your Government Doesn’t Like Off Shore Accounts. Should You?
David M Frees III Legitimate Asset Protection Planning
The attached article examines the possibility that there might be numerous legitimate and strategic reasons for American’s to hold assets in foreign jurisdictions and that so long as they comply with American tax law there is nothing illegal or immoral about such planning.
As you know, we try to bring you a variety of thoughtful pieces on issues involving asset protection planning and tax and estate planning. And, while the article entitled Off Shore Accounts a Necessity has a clear bias in favor of such planning, it is a great summary of the many reasons that ordinary and affluent Americans have and will continue to establish off shore banking relationships.
In these jurisdictions, the laws are such that even if a spurious lawsuit succeeds against you or your business, the process of collecting the judgment against the foreign held assets is so onerous that a plaintiff might decide not to appeal or to stop pursuing them.
David M. Frees III
dfrees@utbf.com
Practicing in the areas of trusts, estates, and asset protection and estate planning.
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Written by: David M. Frees III
Chairman: Trust, Estates, and Wealth Preservation
E-mail: dfrees@utbf.com
Phone: 610-933-8069
AVVO Rating: 10.0
Tags: Asset Protection, asset protection plans, Estate Planning, off shore accounts, off shore banking, off shore trusts
