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Asset Protection
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Asset Protection Planning is necessary to shelter your
valuable assets from potential creditors and future litigators.
These tools include:
Sheltering assets to the extent that they can be protected
legally is the real meaning of asset protection. It is not to protect one's
assets by a transfer to some remote Pacific or Caribbean island trust and doing
it in a way that may be attacked by the IRS as tax evasion at some later date.
The first thing to do is everything that you can do in the U. S.
to protect your assets and to do it legally. But, keep in mind that there is no
point in closing the barn door after the horses are out--and trying to protect
assets after a creditor's action is not a good move.
Remember! Regardless of how you do things a judge in his own
court can rule you in or out on anything.
Fortunately in many states, but not all, many assets such as the
homestead, IRA's, Qualified Plans, Life Insurance and Annuities are generally
protected. One exception could be in divorce actions.
After doing all these things then offshore asset protection
devices could be explored but always with competent legal counsel and
remembering that asset protection - not tax evasion is the real purpose.
The Pension Professionals can assist you and your financial
& legal advisors in providing maximum protection for your assets, without
loss of control, and without negative tax implications.
Estate Planning and
Income Tax Savings should be integrated with your
Asset Protection plans to provide you with maximum benefit, but in a manner
that will not be attacked by the IRS as tax evasion at some later date.
IRS Circular 230 Disclosure:
Tax advice contained in this communication (including any attachments) is
neither intended nor written to be used, and cannot be used, to avoid penalties
under the Internal Revenue Code or to promote, market or recommend to anyone a
transaction or matter addressed in this communication.
Contact The Pension Professionals of
Florida today to determine how best to protect your assets.
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