Hide Assets Before a Divorce or Lawsuit
How do you hide assets before a lawsuit? It’s time right now to think about, and then act upon, protecting your assets. You know, those items and wealth you have worked your entire life for – and if taken away would leave you devastated. There is a wealth of information about asset protection on this website. Let’s define what an asset specifically is. Assets are those items of value that you own. You have earned your assets.
There are different types of assets. Current assets, for instance, are cash items such as fixed deposits, stocks, bonds, etc. Fixed assets are long-term, physical assets, such as property, plant and equipment. This may include your home equity, a business or investment property that you obtained with your blood, sweat and tears over the years. It might include your shiny motor vehicle. In other words, assets are the items that you didn’t acquire through chance – you acquired them with toil.
Okay, now for a little (very little) humor. Why does nobody sue an ice company? It’s because their assets are already frozen. Keep reading, the jokes will get better.
Asset Protection Plans
Diving into the subject immediately we now begin to focus on asset protection plans. Asset protection plans, put simply, are essentially places where you can hide the value of your assets rather than leave them in plain sight. NOTE: When we say “hide” we really mean “protect.” Because “hide” is the term many people use, and Mr. Google likes us to use the words people actually search for. So, just for fun, and because “hide” is the term many people use, we will use these words interchangeably. Many people don’t consider the asset protection ideas discussed in this article. It is because they don’t plan to get sued. Nobody plans to get sued, but people in fact do and quite often lose what they’ve worked so hard to obtain.
There are more lawyers in the United States per capita than any other country. In fact, with 4.4% of the world’s population, the U.S. has 80% of the world’s lawyers. As you can imagine, lawyers of creditors enjoy being employed. So, what do they need to do? They need to find clients and file lawsuits. That is why the U.S. also has 96% of the world’s lawsuits. More important to consider is they need to find money they can recoup from a lawsuit. That said, those who don’t have any form of asset protection – are leaving their assets in plain sight for the taking.
By the way, what’s the difference between a good lawyer and a bad lawyer? A bad lawyer might let a case drag on for several years. A good lawyer knows how to make it last even longer.
Can I Hide Assets?
There are ways to legally hide your assets from hungry creditors and protect them. A credible source reports that about 54% of Americans polled do not trust the legal system. So, for those of you who think your assets are safe because a lawsuit against you would be frivolous, it might be time to think again.
We’ve had countless prospective clients come to us telling us the lawsuit was frivolous; that they were sure to win, etc. Many of them get blindsided when they lose the “sure-win” lawsuit. Think about it. How many five-to-four decisions does the US Supreme Court make? Many. Why gamble your future, right? So, because of this, and because someone may sue you again soon, it might be time to put a robust asset protection into place.
On that note, a guy took a job as an Amazon delivery driver today. When he got to his first address there was a note saying, “Dear delivery man, we’re out, please hide in garage.” That was eight hours ago and still nobody has found him.
Options to Consider
We have many options to explore in regard to asset protection but keep in mind this article is primarily to inform you of your options. Of course, the company operating the site wants your business. The company knows you’re likely smart also. You are the one to make choices and you make the final decisions. That’s respected. All that we ask of you here is to inform yourself on how to take the proper precautions to keep your assets safe – and when you do decide to protect your assets, do so with a company with a long history of success. That what this company wants for you.
Companies That Protect Assets
First to be discussed in hiding your assets before a lawsuit, or even hiding assets from a divorce, is the establishment of a company for protection. Business owners should create a business entity and should incorporate or form an LLC. Business entities such as corporations and LLCs offer legal protections and strong ways to hide your assets before a lawsuit even occurs. Consider Timothy. He’s the sole proprietor of a small business. When his business is sued because of his unforeseen human negligence, guess what happens? His business and personal assets are at high risk. Because Timothy didn’t incorporate his business, he risks losing everything.
Now let’s consider Donna. Donna owned a small business as a sole proprietor. She was wise and educated herself on the different options to protect her assets. Much to her surprise there were many options available to her. She discovered, for her small business she needs to incorporate immediately. She discovered the multitude of protections this not only offers her sales business, but she found out because the corporation is a separate legal “person” from her, that if a plaintiff targets her business her personal assets are not likely in jeopardy.
Hide Assets In a Nevis LLC
Now let’s kick it up a notch. Donna formed an LLC and she even did so in a small country in the Caribbean with some of the world’s most powerful lawsuit protection statutes. Nevis is one of the islands in the country of Saint Kitts-Nevis. Donna formed a Nevis LLC. We will discuss this soon. She not only formed the LLC though. In addition, she opened an offshore trust because of the powerful protection it offers if say, she smashes into a lawyer by accident as he’s getting his mail. From the two examples, be Donna. Don’t be Timothy.
As was mentioned, Donna opened an offshore company. The Nevis LLC is much like a domestic LLC. What is wonderful is that it offers legal protection that is much better than a domestic LLC. It keeps your business assets safe – while at the same time it shields your personal assets in the event of a business-related lawsuit. Review this website where you can find very valuable information specific to Nevis LLC. Nevis a former British colony. It’s part of a politically stable country located in the Caribbean. Many business owners have trusted the Nevis LLC because it offers security for business assets. We’ve set up more Nevis LLCs, by the way, than anyone in the world.
Nevis LLC (Limited Liability Company) law, provides superior asset protection to other jurisdictions. Before you can enforce a judgment against someone’s interest in a Nevis LLC, you must post a bond with the Nevis courts. This could be $100,000, $200,000; whatever the court decides. When you transfer assets into a Nevis LLC they are protected right away. Then after two years, the Nevis courts will refuse to entertain lawsuits against the assets inside of the LLC.
No taxes are imposed in Nevis LLC income. (But of course, you likely need to declare your income to your home country, if you live in a country like the United States, for instance.) A principal office and records for an offshore LLC in Nevis can be located anywhere in the world. You do not need to be a citizen of Nevis either. You have the option to incorporate in Nevis or form an LLC, both very prudent options. Nevis LLCs offer the best LLC protection worldwide according to our research.
There’s also the Nevis Complete Management Package to consider. This gives a phone number and address in Nevis, a bank and brokerage account. The website offers it. It is essentially a complete package that you can establish for this purpose. So, for those of you who want to take no risks and leave no stone unturned, this is a valuable option to consider and it’s managed elegantly. Again, we’re not trying to sell you here, we’re just simply providing you with an option, and we wouldn’t mention it if we didn’t believe in it. It works, and it’s a smart option.
Hide Your Assets in a Cook Islands Trust
Since we’re talking protection, let’s talk about the strongest protection: a Cook Islands Trust. That said, keep the new Golden Rule in mind. Act early! Act before a lawsuit because last-minute transfers of assets look suspicious. The strongest an option to we’ll discuss includes a Cook Islands Trust. This is a robust asset protection trust where you can hide your assets keeping them safe from prying creditors and money-thirsty lawyers. Opening a Cook Islands Trust is 100% legal. If you are not evading taxes, you have every right to open a Cook Islands Trust. Remember US citizens, you pay taxes and must pay taxes on domestic and international funds – and there’s no way out of that. You can protect your assets internationally and maintain tax compliance. But don’t leave your assets readily available for financial poachers.
Nevis LLC + Cook Islands Trust
We put a Nevis LLC inside of the trust. You are the manager and signature on all bank accounts. When an event of legal duress occur our Cook Islands law firm / trustee can step in as LLC manager to protect you.
Why? Because if you’re in the US, for example, US courts have jurisdiction over you. With a Cook Islands trust, on the other hand, your local courts do not have jurisdiction over your trustee. That’s why we put your Nevis LLC into the Cook Islands trust. Again, the trustee is our Cook Islands law firm. Court orders fall on deaf ears. “Sorry, you don’t have jurisdiction here. We will not turn over the funds to the courts.”
So, the reason the Cook Islands trust is so strong, is that you have access to the money, but your local courts do not. You have our licensed, bonded Cook Islands law firm on your side. Our firm has set up more Cook Islands trusts than any firm in the world. So, if you want your trust set up right, feel free to call and speak with one of our attorneys or consultants. You can also fill out a free consultation form on this page.
Hide Assets from Divorce
Hiding assets from divorce is one of the most common reason people call us. This is why. When someone files for divorce, this is almost always part of the divorce proceeding: a financial restraining order. That is why it is so important to act early. You don’t have time to ponder. If a divorce is on the horizon, or you suspect one may be, call us immediately and act. Once the judge freezes your assets there is little we can do.
So, if you think that you may get served with a divorce. Right now, fill out the consultation form on this page or give us a call. Sure, we do want you to become a client. But these words mean a lot more than that. If you were a member of one of our own families we would say the same. Protect yourself now while you still can, and before it’s too late. The time to take action is now.
Jenny is a 33-year-old physician’s assistant. She works in the emergency department at a busy Baltimore hospital. She’s single, and because she’s single without children this gives her lots of time to build her asset portfolio. Right now, though her assets essentially include large amounts of money in her checking and savings accounts, a sizable stock market and mutual fund portfolio, equity in her almost-paid-off condo, and an already-paid-off BMW. She’s doing well. Right?
Well at first sight yes, she is. But ultimately, no! This is what we’re discussing. She needs to hide assets in the right places in the potential case she is sued. She works in a risky profession as well – which leaves her wide open to lawsuits. Without essentially a “blanket” covering most of her assets, money-hungry creditors can see what they want to take even before lawsuit is filed.
Time for a Fun Little Two-Line Pop Quiz
What should Jenny do right now to hide her assets before a lawsuit? Well, these assets are personal so her best option would be to open a Cook Islands Trust. There are several reasons this is the smart direction for her to take. First, her assets are out of plain sight – deterring creditors from even initiating anything because if there’s no visible money.
Jenny’s Real Estate Asset Protection
We employ equity stripping strategies on her home. That doesn’t mean what you think it might mean. We record an equity line of credit against the real estate, initially payable to the Nevis LLC. Then, if needed, we have a lender who purchases that lien and places the proceeds into an untouchable account in your offshore trust. See our real estate asset protection video for details.
So, when Jenny’s real estate is protected beyond their reach, they have no interest. They can’t see it. Also, if a judgment is ruled against Jenny the court can ask Cook Islands Trust for your assets all they want – but Cook Islands Trust does not recognize foreign judgments.
Jenny’s Liquid Asset Protection
We set up an international bank and brokerage account in the Nevis LLC. Jenny has a debit card to access the funds and has online access to the bank account. She can go online and do her on stock trading. Again, the Cook Islands trust owns 100% of the Nevis LLC. As we said, this gives you protection should you need our trustee / law firm to step in to protect you.
So, Jenny’s assets are safe. Lastly, having one of these trusts allows Jenny to distance herself during a lawsuit from those assets. She is placing her assets into a Cook Islands Trust to hold onto while she is clearing up her legal issues. The court will see that she doesn’t have easy access to her assets, so they typically won’t even be able to bother with them. They may try to obtain her assets if she does have easy access. As soon as Jenny’s legal troubles go away, she then retains full control of her assets held with Cook Islands Trust.
Consider Asset Protection, Without Delay
You need to consider hiding your assets before a lawsuit is ever filed. Taking that action allows you the peace of mind during a lawsuit that they won’t be touched. Yes, we said peace of mind during a lawsuit. That’s what you get by simply making the right choices now.
There are a several options for asset protection which include obtaining an offshore business entity with the Nevis LLC. You can even consider the complete management package which includes an address, phone number and fax number in Nevis along with a bank and/or stock brokerage account. Another option for safeguarding your money is opening a Cook Islands Trust, especially for personal assets. Review this website for further information and if nothing else, we hope you are more educated on this subject. Plus, we hope you now know that there are some easy and affordable steps you can take to protect both your business and your personal assets.
And, yes. Don’t wait like the guy below.