Where should I Protect my Assets?

Posted on January 19th, 2023

Asset Protection is a legal strategy used to protect assets from creditors, lawsuits, and other legal judgments. In utilizing asset protection planning, individuals may be able to shield those assets from creditors and legal judgments in their home jurisdiction. This can be particularly useful for high-net-worth individuals or business owners who want to protect their assets from potential lawsuits or other legal actions. Additionally, most jurisdictions where these entities are established are going to have strict privacy laws which make it difficult for outsiders to gain access to information about a trust and its assets. This can provide an additional layer of privacy and security for individuals who wish to protect their assets.

The best jurisdiction for asset protection planning depends on an individual's specific needs and circumstances. Some popular jurisdictions for asset protection include:

1. The Cook Islands: This small island nation in the South Pacific has strict privacy laws and is known for its strong asset protection laws.
2. Nevis: This small island nation in the Caribbean is another popular choice for asset protection trusts. It has a modern trust law and a well-developed offshore financial sector.
3. Belize: This Central American country is known for its favorable trust laws and political stability.
4. Bermuda: Bermuda is a respected offshore jurisdiction, known for its long-standing and sophisticated trust law.
5. Switzerland: Switzerland is known for having strong banking and financial privacy laws. It is also a politically stable country with a strong legal system.

Ultimately, the best jurisdiction will depend on a client's specific needs and circumstances. Persons seeking to set up a plan should of course consult with a competent legal professional before making any decisions.

Attorneys, are you offering asset protection services to your clients? If not, you should be! Let's set up a call so I can assist you in adding these valuable tools to your legal toolbox!