Wealth International, Limited (trustprofessionals.com) : Where There’s W.I.L., There’s A Way

Characteristics of an Effective Asset Protection Plan: Important Details

© Copyright 2015 Wealth International, Ltd.

We emphasize two guiding principles for constructing an effective asset protection plan:

The first principle is self-explanatory. We would only add the suggestion that where the law is ambiguous, structure your plan under the assumption that any rulings in those areas will not be in your favor. In other words, be conservative. The second principle in real world practice is more nuanced. Ownership and control are not sharply defined concepts. What does it mean for the assets at risk to truly not be under your control? Here is our cut:

The 2-part notional test we would suggest is:

Unless the answer to both questions is affirmative, then we would not use the plan.

The rest of this report, with discussion of additional desirable characteristics for any asset protection plan and how the W.I.L. approach incorporates those principles, is included as an appendix to our comprehensive introductory publication Introduction to International Asset Protection. To obtain complete access to that publication we invite you to go to this page and sign up.

NOTE: This report is presented with the understanding that the publisher is not engaged in rendering legal or accounting services. Questions relevant to the specific tax, legal, and accounting needs of the reader should be addressed to practicing members of those professions. This information was gathered from sources believed to be reliable but it cannot be guaranteed insofar as it applies to any particular taxpayer. Wealth International, Limited specifically disclaims any liability, loss, or risk, personal or otherwise, incurred as a consequence directly or indirectly of the use and application of any of the techniques or contents of this report. No copies of this material may be made or redistributed without the express written consent of Wealth International, Ltd.