Understanding IRA Protections
Individual Retirement Accounts (IRAs) play a crucial role in securing a stable financial future for retirees. These accounts, which include Traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs, offer tax advantages that help individuals save for retirement. However, an equally important aspect of retirement savings is the protection of these accounts from creditors. This […]
Can Your Inheritance Be at Risk of a Lawsuit?
A recent U.S. Federal Reserve survey found that fewer than one-third of American households are fortunate enough to receive inheritances when their loved ones pass away. It also discovered that about 90% of households lucky enough to land inheritances only receive an average of between $9,700 and $45,900. If you ever find out you’re […]
Best Offshore Bank Accounts for Asset Protection
If you want to protect your assets and keep your finances private, offshore banking might be on your radar. What are the best offshore bank accounts for asset protection? People who move money out of their home country often choose international banks in Switzerland, the Cook Islands, Singapore, Hong Kong, and various other countries. Below, […]
What Assets Can Be Taken in a Lawsuit?
No matter what your net worth is, work to protect it. More specifically, protect your assets in case of a lawsuit. What assets can be taken in a lawsuit filed against you? Make sure you can answer this question to avoid having to part ways with assets following a legal battle. Let’s take a look […]
Questions To Consider When Hiring a Cook Islands Trust Attorney
If you are a high-net-worth individual or work in a high-risk profession, you may have already considered asset protection solutions. If you’ve done any research, you’ve probably come across Cook Islands Trusts. Like many offshore trusts, Cook Islands Trusts offer more security and privacy than many domestic trusts. However, establishing any trust is complicated — and […]
How Can Stocks Be Transferred to an Offshore Trust?
Offshore trusts are known for being effective asset protection tools, leading many people to wonder if they can be used in this same manner for stocks. From a practical standpoint, transferring stocks to an offshore trust involves shifting the legal ownership of that asset from yourself (or another entity) to an offshore trust. It requires […]
Retirement Income and Protection Plan Guidance: State-by-State
Year after year, you’ve dutifully saved for retirement. What happens if creditors come knocking? Do they have any right to seize your retirement funds, or is that money protected? It depends. If you’ve stashed your money in one of several ERISA- (Employee Retirement Income Security Act) qualified plans, you’re usually safe. If not, your retirement […]
Cook Islands Trust Fees Beyond Setup Costs
If you plan on opening an offshore trust in the Cook Islands, that’s probably a smart choice. This jurisdiction offers strong asset protection as it doesn’t recognize foreign judgments. Creditors must file fraudulent transfer claims with Cook Islands courts, a burdensome and expensive process many won’t attempt. However, you may have some questions about Cook […]
Setting Up a Cook Islands Trust While in a Lawsuit
Cook Islands offshore trusts provide one of the strongest levels of asset protection in the world. Many wealthy individuals choose the Cook Islands due to its favorable laws during legal proceedings. But what happens if the lawsuit has already begun before you set up the trust? Experienced asset protection attorneys from Blake Harris Law discuss […]
Here’s How Much It Costs To Maintain an Offshore Trust
Setting up an offshore trust isn’t as simple as stashing your money in the Bahamas and calling it a day. You’ll have to consider setup fees, administrative charges, legal costs, and other expenses. Those fees can add up quickly, but the peace of mind an offshore trust brings is often well worth it. Wondering how […]