Asset Protection

Protect your wealth from creditors.

Your wealth is important. You have worked hard to grow your wealth so it is important to protect it as well. You do not only want to protect yourself from the plethora of economic risks that are out there, but also from the risk of losing significant wealth to a lawsuit.
To avoid losing wealth, it is important to create an asset protection plan. This involves moving assets and placing them out of reach of creditors, transforming nonexempt assets into exempt assets.
With guidance, creating offshore asset protection can be put into effect completely legally and ethically. It is advised that you seek the help of an advisor as this can be a tricky game to play. A skilled professional will be knowledgeable about debtor and creditor law, fraudulent transfers, tax planning, civil litigation, property laws, bankruptcy, and other related areas of law.
It is okay to not know the best strategy to protect your wealth, especially when they have a large number of expensive assets. To remedy this, Goldbach Capital offers family office services to clients and families with assets under our management in excess of CHF 10 MM.

Contact us below to begin your asset protection planning today!

What is Asset Protection?

An asset protection plan involves keeping your property safe in the event that someone tries to win parts of your wealth in a lawsuit. Asset protection is vital in preventing this does not happen. When creating a plan, individuals take assets and put them out of reach of creditors, changing nonexempt assets into exempt assets.
While a creditor is concerned with strategies for collecting, debtors are working diligently to protect valuable assets.
Asset protection is often viewed as immoral, begging the question, shouldn’t one pay a debt that they owe?
With the guidance of a skilled professional, asset protection can take place completely ethically. Asset protection can be tricky so advisors need to be knowledgeable about debtor and creditor law, fraudulent transfers, tax planning, civil litigation, property laws, bankruptcy, and other related areas of law.
Asset protection is not about avoiding taxes, keeping secrets, or defrauding creditors. Instead, it is to provide an incentive for settling a claim, improve a debtor’s bargaining position, offer options when a claim is asserted and deter litigation. It is not just protecting your wealth, the plan is also formed to ensure you don’t get in more trouble for contempt or bankruptcy fraud.
Many protection plans include taking assets offshore in trusts. Offshore asset protection plans offer some of the best laws in the world, in terms of privacy and security. Creditors will inevitably run into numerous roadblocks. By going offshore you can also use the foreign jurisdiction statutes that get you strong protection.

Creating an Asset Protection Plan

Like any financial planning, it’s essential to form an asset protection plan early. One of the worst things that can happen is making a plan too late. If you do not plan ahead of time, you will definitely not have everything prepared properly
What can often happen is a lawsuit arises and an individual then moves their assets, which can result in harsh legal consequences. Asset protection activity happening after a claim or lawsuit can be reversed through fraudulent transfer law.
A judge can reverse the transfer of funds and the debtor and any advisors will be guilty of fraudulent transfer and could be liable for the creditor’s attorney fees and lose any chance of a discharge in bankruptcy.
In order to avoid fraudulent transfers laws, make certain your plans are made for business purposes or for legitimate estate planning and ensure everything is documented. Plan ahead before problems occur and a lawsuit approaches.

Insurance

An asset protection plan should go hand-in-hand with an insurance plan. Individuals handle the risk by shifting it to an insurance company. Asset protection often scares anyone away who is thinking of a lawsuit but a protection plan can’t pay your legal fees in the event a lawsuit does happen. An insurance plan can help a debtor get through the lawsuit by paying to settle and defend a case.

Go Offshore

When choosing to go offshore with your asset protection plan, you can take advantage of some of the best laws in the world. Creditors that are trying to get to your money will not be able to reach it. Foreign jurisdiction statutes also offer strong protection against creditors.
There is not perfect, universal asset protection plan it is important to use common sense and think about the goals and needs. By looking at your short-term and long-term goals, you can find important figures such as your current and future income, how much you will need to retire, and how much you want to pass down to beneficiaries.
One of the most popular ways to go offshore with your asset protection plan is forming an offshore company, such as an LLC. Investors can hold assets in the offshore LLC, which means that creditors will not be able to reach these assets in the event of a lawsuit.

An international trust, commonly known as an offshore asset protection trust, can be one of the strongest asset protection plans for you when implemented properly. With an international trust, assets are legally transferred out of reach of future creditors.

It works by taking the assets out of your name and putting them in the trust. The owner of the trust chooses the trustee, settlers, and beneficiaries and while maintaining control of the assets while in the offshore asset protection trust.

Don’t Plan Alone

Goldbach Capital has the knowledge and resources to become the trusted partner of wealthy families. We offer a comprehensive range of services, by combining proprietary expertise with an external pool of first-class advisors.
Each client can decide which modules he wants to engage Goldbach Capital on. Thanks to its efficient and cost-effective solutions, Goldbach Capital is a credible alternative to existing or projected in-house organizations.
While incorporating our approach in life simplification, cost-cutting, and asset protection, growth, and monitoring, our family office services integrate your family’s vision and core values to create the right wealth management plan for you.

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