Is Asset Protection Legal?
by: Floyd Tapia
Perhaps you’ve heard of or seen Hollywood’s portrayal of Swiss Bank accounts, Offshore Trusts and Corporations, and Tax Havens of the rich and famous as jet setting moguls live mysterious yet exciting lives.
But in the real world, although these same financial structures (most administrated by reputable and legal banks), have been around for hundreds of years, there are still many people who consider the above strategic asset protection entities as illegal.
I think we need to look at what they were intended to do. Asset or lawsuit protection laws were designed for the very purpose of protecting your assets from being frozen and the possibility of unjust forfeiture.
Still others consider asset protection a moral dilemma… something unethical or dish...