Asset Protection: Thwarting the IRS

The search for tax loopholes is almost as old as tax itself. People have tried to thwart the IRS’ collection of tax debts of all kinds every which way possible. From making fraudulent transfers to hiding money under the floorboards, Americans have tried to cheat the IRS out of its due.

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Family Limited Partnerships

A Family Limited Partnership (FLP) is a business that is set up and controlled by the members of a family. Like other limited partnerships, an FLP consists of two types of partners: general and limited.

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How to Protect Assets with a Swiss Bank Account

If you are looking for a way to protect assets from snoopy investigators, a Swiss account can be the ideal place. The main reason for having such an account for most people has to do with keeping one’s financial status a secret, and protecting one’s assets from attack.

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Using Foreign Trusts & Offshore Entities to Protect Assets

For those with substantial means, and thus, larger potential creditor exposure, the best advice is to have a protection plan that is diversified. The use of a variety of “safe-havens‒ for your wealth will ensure that at least some of it will be protected from creditors.

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