International Asset Protection Strategy
Onshore asset
protection may shield assets from litigation. Offshore
asset
protection, though more
costly, offers greater benefits:
1) No U.S.
jurisdiction on offshore assets.
2) No enforcement
of U.S. judgments.
3)
Privacy/confidentiality.
In my practice I recommend The Isle of Man and
Bahamas jurisdiction for
offshore asset protection. I recommend jurisdictions for
offshore trusts:
1)
Where the statue of limitations on
fraudulent conveyances is two years
or less (Bahamas);
2)
In Bahamas, U.S. judgments must be
relitigated;
3)
That do not reciprocally enforce foreign
(United States) judgments (Bahamas and
Isle of
Man);
4)
Life Insurance Policy (Bahamas) creditor
protected:
Exempt from attachment;
5)
In the Isle of Man, no service of process for
lawsuits on non-residents defendants and
U.S. judgments must be relitigated.