Asset protection through an offshore company

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<h1>Asset protection through an offshore company</h1><strong> Author: <a href='http://www.articleseen.com/profile_Peter Robertson.aspx'>Peter Robertson</a></strong><br /><p>An offshore company or an offshore bank is one that is located offshore or outside the nation, where the depositor resides. The offshore bank is generally located in a low tax jurisdiction. To trace back the history of the term offshore, we need to go back to the Channel Islands that were located outside the United Kingdom. Most of the offshore banks are situated, or located, in island countries and pertaining to this peculiarity, the name, ‘offshore banking’ originated. Though there are many banks that are not located in island nations, like the well respected Swiss Banks, or the ones at Luxemburg, which are land-locked nations. Asset protection is the method of saving or protecting assets from liabilities that might arise elsewhere. A liability may be limited and controlled to a certain limit, but that is not what is meant by asset protection. Let us take a look at the ways you can safeguard all your assets and protect them from liabilities and debts. With the help from strategic consultants and financial guides, you can keep your assets protected and safeguarded to a great extent. Offshore trusts help to safeguard assets and protect them. Let us take a look at the ways how one can use trusts to protect assets. • The spend-down provision for Medicare needs to be kept at bay to protect your assets. • Potential lawsuits can pose a threat to your estate assets. An irrevocable trust helps you to safeguard your estate assets during and after your lifetime, though; neither you, nor your spouse can be made a beneficiary of such a trust. • Even when the facts are not favorable or beneficial for the grantor of the favor, like in tax litigation, bankruptcy, and divorce; offshore trusts help to protect assets. • Offshore trusts help to protect better before any kind of liabilities have arisen. So, if you want to make the most of an offshore trust, you must get it done before any source of debt or liability comes into being. This way, the grantors would be enabled to retain at least certain funds that have been kept protected. • You must check out which jurisdiction you want as your offshore trust. If you are not sure of it, make it a point to consult and take suggestions from professionals and experts. Financial needs for a lifetime require a lot of well thought out planning. So, take your time and be patient while you are considering any kind of offshore company expansion, other financial arrangements, or asset protection.</p><strong>About the Author:</strong><br />Peter Robertson is an author who writes useful articles on offshore company, offshore banking, <a rel="nofollow" href="http://www.carloscevola.com/">asset protection</a>, and related topics for those who are interested in offshore company formation. For more information on <a rel="nofollow" href="http://www.carloscevola.com/">offshore company</a>, and offshore banking, you can also visit www.carloscevola.com.<p> Article Source: <a href='http://www.articleseen.com/Article_Asset-protection-through-an-offshore-company_60845.aspx'> http://www.articleseen.com/Article_Asset protection through an offshore company_60845.aspx</a></p>

Article Source : http://www.articleseen.com/Article_Asset protection through an offshore company_60845.aspx

Keywords : asset protection, offshore company, offshore banking, international tax planning,

Category : Business : Small Business