Here’s where things get interesting. Which if the 10 dozen or so asset protections structures will work best for you? Below is a basic list of structures you may or may not have heard of in your quest for asset protection.
- Will (which in my opinion is 100% useless)
- US Corporation (C or S class)
- Nevada Corporation
- Foreign Corporation (outside USA)
- LLC
- Limited Partnership
- Revocable Trust
- Irrevocable Trust
- Living Trust
- Foundation
- Corporation Sole
- Pure Trust
- Offshore Trust
- Contractual Trust
- IBC
- Offshore bank account
- Safety Deposit box (even more useless than a will)
So which one is right for you? Obviously I cant tell exactly which one(s) are most suitable for each of you, but I can give you general outlines on the structures I use the most, why I use them, and how to use them properly and legally. Thats a key here – If you keep things legitimate you keep them safe. You do not want to merely mask your personal finances with a corporate name. That level of protection can be ripped through by any judge in any courtroom. We’re looking to make you bullet proof here, so pay attention and use these entities properly.
I’ll work my way down the structure list over the next couple of weeks to give you a better understanding of everything on it. And if I’ve left something off (which I know I have) and you want to hear about, please email me at [tomothy at hushmail dot com]
