Seven Disturbing Trends

More and more people around the world today are moving assets and business offshore because of the many benefits it can provide. If you are not convinced that offshore financial planning is right for you, maybe you should consider the following disturbing trends that are eroding your privacy and are putting your assets at risk:

1. With very little effort almost anyone (a tax authority, someone who is suing you, a selfish ex-spouse, etc.) can get a clear picture of your personal and financial information.

How? Simply by tapping into the vast amount of data that is stored on each of us. Detailed records are kept not only by the federal government but also by state and local governments, the census office, the credit bureaus, insurance companies, health authorities, financial institutions, internet companies, and so on. Such records include tax returns, various licenses and registrations, marriage certificates, deeds, court documents, credit reports, medical histories, marketing profiles, insurance applications, etc.
What’s worse, is that you have little to no control over how this information is collected and disseminated. For instance, under current law, creditors, litigants, or private detectives are often allowed to find out how much money you have in the bank. Maybe, after all, your private information is not as private as you thought.

2. People who stand out as successful, wealthy individuals, may become a targets of unwanted lawsuits.

If your wealth and assets can be easily detected, you may be attracting unwanted lawsuits, be it divorce suits, damage suits, professional negligence suits, and nuisance suits. Once you get involved in a lawsuit such as this, it won’t be long before your assets evaporate. According to a credible source, there are currently over one million such lawsuits working their way through the courts in the US alone.

3. As a director or officer of a corporation, you may lose some or all of your personal assets if the corporation is sued.

4. Retirement does not protect you from malpractice or liability exposure. You may be sued for events that took place many years ago, as long as the applicable statue of limitations did not expire.

5. In certain cases, the courts can allow your creditors to seize assets held in the names of wives and children, as well as retirement funds.

6. Taxes are likely to increase in the future.
As taxes go up, wealthy and well to do individuals are hit the hardest. Why pay more than your fair share of taxes when with some offshore structuring you can achieve greater tax efficiency? There are perfectly legal ways to have income from investments or international business accumulate and compound offshore on a tax-free basis.

7. Estate / Death taxes
Unless you act to secure your assets, it is possible that you will not be able to keep your hard-earned money in the family and pass your wealth on to your heirs.

Is An Offshore Solution Right for You?

To determine if offshore financial planning could be beneficial for you, ask yourself the following questions:

• Do you have more than US$100,000 or equivalent in equity in your home?
• Do you have liquid assets worth more than US$100,000
• Do you earn over $50,000 every year?
• Are you a director or officer in a corporation?
• Are you a partner in any partnership?
• Are you single or divorced and contemplating marriage or remarriage?
• Do you own a plane or a boat?
• Are you a contractor, manufacturer, physician, architect, accounting professional, professional or self-employed individual?
• Have you been uninsured or underinsured for any period of time?
• Are you expecting an inheritance?

If you answered yes to more than two or three questions, it is practically certain that our corporate and administration services will provide you with significant benefits.