The Tricky Business of Asset Protection
Legitimate Vehicles to Keep Creditors at Bay
When constructed properly, offshore trusts and other asset protection strategies can isolate wealth from lawsuits and other threats. When not set up correctly, it backfires, drawing the Department of Justice, the IRS and creditors into the picture.
Dependable Legal Advice from a Former IRS Lawyer
Clients across Washington state and nationwide have trusted their portfolios to attorney Arthur Boelter, who offers 35 years of experience in tax law and sophisticated solutions for wealth preservation and asset protection. Call our Seattle office for an appointment at (206) 587-0000.
Asset Protection Through Offshore Trusts
Individuals are within their rights to shield assets from future threats, such as liens and frivolous lawsuits. It is only illegal to hide assets or transfer them offshore to dodge a judgment already rendered. Boelter & Associates counsels clients on keeping assets safe from creditors without skirting U.S. (or international) laws.
The best protection is achieved through self-titled trusts established in favorable foreign jurisdictions, namely the Cook Islands and Nevis. When properly constructed and managed by the trustee, trust assets are beyond the reach of individuals, entities and state or federal governments. No U.S. judge can order assets back to American jurisdiction if they were legally placed.
Asset Protection and Taxation
However much it may frown on the practice, the U.S. government looks the other way so long as the owner of offshore assets pays income and capital gains taxes. Arthur H. Boelter advises on tax filing compliance and reporting requirements to keep clients off the radar of the IRS and its Criminal Investigation Division.
Are you currently out of compliance with offshore assets? If the IRS suspects a foreign asset trust is being used as a tax shelter, Arthur Boelter has extensive experience in tax fraud representation. He can negotiate to make good on tax delinquencies with minimum repercussions or represent clients in criminal proceedings.
Contact Arthur Boelter for sure-footed entry into asset protection. Although tax minimization is not the primary purpose of asset protection, it is the legitimate benefit of certain wealth preservation strategies we recommend. We are happy to explain how you can achieve both objectives.