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Should you create an offshore asset protection trust?

December 3, 2008 by  

Protect your assets offshoreAs the financial landscape of the U.S. changes, people may be looking around for different strategies to protect their wealth.

Writing on his blog, former U.S. representative from Maryland Bob Bauman suggests that those who would like to make sure their assets are safe from taxes and similar threats may want to consider creating an offshore asset protection trust (APT).

Bauman points out that President-elect Barack Obama sponsored the Anti-Tax Haven Act in 2007, which gives the Treasury Secretary the power to issue rules that limit how Americans manage their money offshore.

He suggests that an APT offers both a strong level of defense for your assets and a robust privacy guarantee.

APTs in offshore haven countries are able to defend against civil judgments in the U.S., Bauman claims, citing a shorter statute of limitations on suits, as well as "far greater privacy, diversification of financial risk and better investment flexibility."

However, he adds that although APTs offer significant asset protection, they do not help investors make savings on most U.S. taxes.
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  • http://none Douglas Golding

    Bob, can you recommend someone who can set up an APT.

    • donna

      Folks,
      You can learn about APT’s and other legal and effective ways to protect assets by subscribing to the Sovereign Society’s newsletter.
      Bob Bauman is a contributor, and they have a host of experts to help in offshore matters.
      ps. i’m a private person that has subscribed for years.
      donna

  • Sheryl Mercado

    Bob,
    I am also interested to know where to turn to have an APT set up.

  • http://www.cladgenius.com craigslist poster

    hello all, great blog her. Keep up the good work. very informative :)

  • Kristin T.

    My husband owns his own business, and one of his best clients who does ALOT of investing, both in the American Stock Market and in the Overseas Markets as well has been saying this for months. And this guy HIGHLY recommends opening offshore accounts to protect valuable assets. He’s forseeing a major meltdown in American investing in the next year and is encouraging everyone who does ANY investing/banking to move at least half (or more) of their money OUT of American banks, especially if you are involved w/the stock market or other investing.

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