title]The Perfect(almost) Asset Protection Trust[/title]
The problem with most asset protection strategies is the fact that the investor never really knows how safe the strategy will turn out. When the attorney drafts the asset protection plan, what is feared the most? An IRS attack. And we all know that an IRS attack can be as bad as a heart attack. A trust instrument is almost always used, and the investor/donor of the asset is usually giving the asset to some type of trust, either offshore or domestic. Both strategies carry an abundance of risk, since the donor/investor is giving property away in order to protect it. What a strange analogy. The problem with most asset protection strategies is the fact that the investor never really knows how safe the strategy will turn out. When the attorney drafts the asset protection plan, what is feared the most? An IRS attack. And we all know that an IRS attack can be as bad as a heart attack. A trust instrument is almost always used, and the investor/donor of the asset is usually giving the asset to some type of trust, either offshore or domestic. Both strategies carry an abundance of risk, since the donor/investor is giving property away in order to protect it. What a strange analogy. Someone receives your property in order to prevent someone else from taking it. In both instances the title to the propery is changing away from the original property owner. And tax avoidance strategies are usually schemes that never work with the IRS.
But what if you, or your investor client could create a trust that was so effective and legal at accomplishing both bullet proof asset protection and legal tax avoidance, that the IRS would grant the investor a written approval letter. That type of trust would truly provide the investor with a feeling of total freedom and peace of mind, for sure, especially since the investor would still be in control of everything. And that type of trust is available today,and when crafted properly, the IRS will be more than pleased to grant a personal written approval letter. And as unbelievable as it may sound, our firm has implemented over 300 of these types of trusts/plans with the IRS, with no problems whatsoever.
It is a complex type of trust that requires a high degree of specialization. But we have worked with some very successful law firms and CPA firms in setting these trusts up primarily for their affluent self employed, or business owner clients, with everyone still being pleased years down the road.
Laws are constantly changing, and it is very important to take advantage of existing tax law now before it is too late. So if you or your client qualifies, the only risk you face, is the risk of doing nothing. ACT NOW!!
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