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Asset Protection And Management Firm In MiamiBy Expert Author: Albert Mitchell
Athletes, doctors, attorneys and other professionals are subject to litigation and have potential to lose substantial assets.
United States federal bankruptcy laws and ERISA laws exempt certain assets from creditors. These assets can be protected for future emergencies. Asset protection is a practice of law that focuses on insulating and protecting property against creditor litigation through various methods, including the use of entities and asset protection trust in Miami. These options should be used with care else they can lead to the criminalization and loss of assets.
“Offshore Trust Protection” is an asset management firm in Miami. They offer asset management services Miami and abroad. All of their attorneys have received their LL.M (masters of law) in taxation, and they are specialized in foreign tax law. This provides advantage of tax exemptions in a legal way to investors.
An asset-protection trust is set up to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are limited in their effects by governments and the courts. “Offshore Trust Protection” provides leading assistance in creating asset protection trust in Miami and efficiently deals with the foreign courts and secure offshore assets of investors. This asset management firm in Miami helps in structuring assets and tax planning, irrespective of the state or country of residence. More details about asset management services in Miami is available at offshoretrustprotection.com
US laws are changed and more transparency is required by government in relation to foreign investments. It is recommended to investors considering themselves as asset protection attorney and establishing asset protection trust, to report existence of the trust and foreign investment annually to the IRS and pay taxes on income earned by such trust if the trust has any US beneficiaries. Reporting rules and realization of foreign income will apply even if the foreign trust is irrevocable. “Offshore Trust Protection” facilitated government with required records and takes care of any litigation in succession planning for future generations. Offshore structures are still the best asset protection methods to hold certain investments, however many asset protection attorneys do not have a tax background, and cannot adequately advise a US investor on an offshore trust. “Offshore Trust Protection” asset management firm in Miami has attorneys that are specialized in US tax laws and effective reporting.
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