How to Hide Assets

In social functions, I always get asked about the new

How to hide assets? From who are you trying to hide

your assets from? Is there a legitimate way to hide

your assets?



You will know if you have succeeded in hiding your

assets if an asset search by an extremely interested

party does not reveal your identity. In a post 9/11,

it's not possible. Everything has become more

transparent with the passage of government banking

acts.



Interested parties have a way of finding the true

owner for the right price. The Internet is running

on high steroids. Anything you do is public

knowledge.



However, the original owner and its present owner

can legally be changed without having to go offshore.

Legitimate repositioning of assets from you to an

irrevocable trust is perfectly legal. The fact is,

if your assets are owned by a subchapter S. Corporation

or a Limited Liability Company and in turn the shares

of the Sub S or membership units of the LLC are owned

by an irrevocable trust, it's the fortress of US Asset

Protection.





Hide Your Assets with Irrevocable Trusts





How to hide your assets is a simple as the

repositioning your assets through an irrevocable

trust with a true independent trustee. The key to

the transfer is the exchange of equal value in return

for the asset, or the receipt of a fair market value

for the asset transferred.



If you reposition your assets, you will no longer own

them. If you don't own assets, no one will want to

sue you; no one will want to track you; no one will

want to know your name. You don't have to go offshore.

US Laws, US courts will defend and support your asset

protection system.





Give Up Control of Your Assets to an Independent Trustee





These laws have been defined by numerous court cases,

over and over, right up to the Supreme Court. You

must however, give-up control over your assets to a

true independent trustee. Your asset protection

system is enhanced when a Limited Liability Company

further re-defines your asset protection system.





How the LLC Can Help Protect Your Assets?





The LLC is nothing new, but (until recently) states

refused to legislate its existence. The LLC resembles

the German GmbH the French SARL and the South American

Limitada forms of doing business. The LLC allow small

groups of individuals to enjoy limited personal liability

while operating under partnership-type rules (rather than

the complex rules that apply to corporate-type

structures).



The LLC is recognized by the IRS as a "pass-through

type" of disregarded tax entity. That is, the profits

or losses of the LLC pass through the business and are

reflected and taxed on the individual' member's tax

returns of the owners, rather than being reported and

taxed at a separate business level.



Other pass-through entities include general and limited

partnerships, sole proprietorships and "S" corporations.

The IRS now lets an LLC elect corporate tax treatment if

it wants it by filing IRS Form 8832. Consult with your

tax advisor.



Rocco Beatrice, CPA, MST, MBA,

Award-winning trust & estate-planning expert

71 Commercial Street #150 Boston, MA 02109

tel: 508.429.0011 fax: 508.429.3034

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