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Fast Facts on Asset Protection Planning by The Marvont Group

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Fast Facts on Asset Protection Planning by The Marvont Group

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In line with The Marvont Group’s previous reviews regarding the meaning of asset protection trust and simple tips on how to avoid asset protection scams, the firm will now discuss significant concepts and interesting facts that you need to know about asset protection planning.

For those who didn’t know, The Marvont Group is a distinguished firm in Tokyo, Japan that focuses on asset protection. This discussion is supported by the firm’s comprehensive reviews. Make sure that you’ll also remember all of the information below to become familiar with asset protection.

The first thing that you need to remember in asset protection is that no one can take your assets away from you. An entity must first win a lawsuit and obtain a judgment in order to do so. A prejudgment attachment is not available in the United States as stated by The Marvont Group, except in the rarest situations, or in the case of the Internal Revenue Service (IRS), or in some divorce situations. You always have quite a long warning time.

Second, do not forget that the most effective period to apply asset protection strategies is when the financial seas are calm. Sometimes, it is too late to accomplish any critical protecting when the attacks have been mounted due to the fraudulent conveyancing laws. You work hard to make your money and The Marvont Group thinks that you should take 10% of this effort and direct it toward protecting your savings.

Third, keep in mind that judgment creditors can only take what you have and if it’s not yours, they can’t take it. Also, according to the review by The Marvont Group, stealth works because judgment creditors can’t take something that they don’t know about. Never volunteer anything.

Fourth, take note that there was no country in the world that will automatically recognize judgments from a court in the United States as per the review of The Marvont Group. The case must first be relitigated in the foreign country to register and enforce a U.S. judgment overseas (not true when it comes to certain arbitration awards which are sometimes acknowledged by virtue of a treaty). Furthermore, no country in the world recognizes tax oriented judgments from the United States. Many decline to acknowledge U.S. tort, securities and antitrust judgments. They think that the country’s laws are unwise and unjust, and won’t recognize judgments based upon senseless laws. This is one reason for asset protection trusts.

Fifth, bear in mind not to trust anyone with your hard-earned money, especially a foreign trust company. To guarantee that you’re not vulnerable to individuals aiming to take or deal with your money without your permission, each asset protection plan should be structured.

Sixth, never combine liability generating assets in the same entity. An example provided by The Marvont Group’s review states that you should never have two apartment houses owned by the same limited partnership.

Seventh, in accordance with the review of The Marvont Group, always remember that the only country in the world that allows contingent fee litigation is the United States. It is unprofessional in all other countries for an attorney to take a case on a contingent fee basis. Moreover, the plaintiff in various countries should post cash with the court to handle the defendant’s fees and costs if the he or she is unsuccessful.

Eighth, note that one out of ten Americans is sued every year as reported by The Marvont Group. To illustrate, there are 13.9 malpractice claims for each 100 doctors. Four out of ten medical doctors have been sued. The average obstetrician in New York has been sued eight times and many are leaving the field. The average verdict nationwide against doctors is $1.33 million and in New York it is three times larger.

The same is true in other professions. Nowadays, there are over thousands of suits against accountants in the United States seeking over $13 billion in damages. Huge judgments are being obtained like the recent $338 million judgment against Price Waterhouse. Many large regional organizations also have gone bankrupt.

Perhaps this doesn’t surprise you anymore, but attorneys are also affected by malpractice claims, even if sometimes they are the reason behind our problems.

Every single businessman, including board members, business owners, developers, and syndicators is exposed. The liability is usually based on emerging and unexpected legal theories. As an example, the partners in a well-known law firm were recently stunned when they were notified of their joint and numerous liabilities under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) for the projected $72 million toxic cleanup cost on a parcel of raw land they bought during the early 1970’s.

Lastly, The Marvont Group finds that there are more than 880,000 lawyers in the United States compared with 13,500 in Japan that has been licensed to file lawsuits nowadays. It’s estimated that 36 percent among these lawyers are either unemployed or underemployed. The economic incentive for these underemployed lawyers is to file suits and force settlement. It is usually less expensive to buy peace instead of fighting on principle.

Please remember that The Marvont Group never stops in providing you significant information about asset protection. They will continue to strive hard to give you only the best. With the facts given above, you’re expected to become aware of asset protection planning from now on. For more information about asset protection, feel free to contact The Marvont Group through their website at http://themarvontgrp.com.

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A Short Review on Asset Protection Trust by the Marvont Group

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A Short Review on Asset Protection Trust by the Marvont Group

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As your leading source of information regarding asset protection, the Marvont Group simply defined asset protection trust as any trust used to safeguard assets from creditor attack. Normally, an asset protection trust is set up in an offshore jurisdiction, even though assets will usually remain in the United States under the indirect control of the settlor – or the person establishing the trust.

These trusts are normally structured so that: they are irrevocable for a term of years and the settlor is not a current beneficiary; they are treated as domestic grantor trusts for tax purposes, even if they are “foreign trusts”; and the undistributed assets of the trust are returned to the settlor upon termination of the trust, given there’s no current possibility of creditor attack, thus allowing the settlor to recover complete control over the previously protected assets.

Furthermore, the Marvont Group described asset protection in several ways, such as it is: an effective tool to resolve or prevent litigation; a method to keep the ownership of assets completely confidential; an alternative to traditional prenuptial agreements; a hedge against possible exchange controls; a tool to protect pension assets and give an insolvent debtor a fresh start; an ideal approach to avoid forced heirship laws that are common in Europe; and a way to internationalize investment and hedge against governmental instability.

Previous reviews show that there are numerous techniques that can be used to protect various types of assets. Most are suitable for every person and are based on common sense, while others are suited to wealthy or soon-to-be-wealthy individuals.  Asset protection techniques vary on both the location and type of property.

What is common to all asset protection techniques is that they make it harder for a creditor to either find or take the assets. With a properly constructed asset plan that might include an asset protection trust and a family limited partnership, a person can legitimately put a significant part of his assets from the reach of judgment creditors and still retain substantial control over those protected assets.

A properly implemented asset protection approach minimizes the size of the target the plaintiff’s attorney is aiming for. As soon as the plaintiff’s attorney is sure that any judgment will be hard or perhaps not possible to collect, his determination fades because he’s not likely to be paid for his work. For those who wonder what the main effect of a carefully constructed plan, it is the elimination of the plaintiff’s economic incentive to litigate.

Based on a review made by the Marvont Group, an asset protection trust with a citizen or resident of the United States and soon to offer in Tokyo, Japan as the settlor is normally structured to become tax neutral. In particular, due to the settlement of an asset protection trust, no further income, estate, gift or excise tax should be due. The trust shouldn’t be also expected to save taxes. It’s also wise to note that a foreign trust can’t be legally or safety utilized to hide income from the long arm of the U.S. Department of the Treasury regardless of the almost complete confidentiality it offers.

If you’re a U.S. citizen/resident and considering an asset protection trust, the Marvont Group suggests that have it implemented by a genuine tax expert with extensive experience. Remember that if you’re ever told that an asset protection trust, or any foreign trust, could save you income taxes, then you’re getting a negative advice and perhaps being asked to commit a crime as you go along.

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The Marvont Group: 9 Basic Asset Protection Tips

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The Marvont Group: 9 Basic Asset Protection Tips

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Everyone can take some rational steps to better protect their hard-earned money since a lot of people can't afford a sophisticated asset protection plan. The Marvont Group categorizes some of these basic techniques:

1.Always use a separate entity for every liability generating asset and never combine liability generating assets. Let’s say that an apartment house shouldn’t be owned by the same entity which owns a printing business.

2.Get a local lawyer and each time you make a significant move, pay for certain advice. It is considered money well spent. In addition, the market is filled with well-trained lawyers. Avoid being afraid to negotiate fees.

3.Remember that general partnerships and handshake agreements will only cause trouble and therefore you should avoid them. Note that any general partner can commit the partnership to any legal contract. All general partners are jointly and separately liable.

4.Please be careful of individuals posing themselves as asset protection experts. Always check references and avoid the professional seminar givers. Don’t believe that charging order protection is enough. Never trust someone who asks you to trust someone else with your hard-earned money, and someone who swears to save you income taxes.

5.Don't show off and don't put everything in your name because you'll be sued if people think that you're rich. If you're reluctant to have a modest lifestyle then you should keep a low profile and don't title your assets directly in your own name. Don’t forget that in order to take your assets, they first have to be found. Furthermore, a good asset protection plan doesn’t depend on stealth, and it should work even if every single document is discovered.

6.Know that every state is different. Remember that what a creditor can get is usually controlled by state law. Even if you’re faced with serious creditor attack, you may be able to keep assets by getting good advice. Let's say certain states have liberal homestead laws and some states accord greater protection to pension plan type accounts than other states.

7.Keep in mind that no country in the world automatically recognizes US based judgments as well as US tax judgments. Most countries think that the tort laws, securities laws and anti-trust laws in the United States are meaningless.

8.Never ignore a lawsuit. If you are served, always get good advice.

9.You should still keep adequate insurance even if you affect an innovative asset protection plan. The main importance of a good policy is that the insurance company should provide you a defense.

You can always visit our website for further updates regarding Asset Protection Tips.

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The Marvont Group: Asset Protection Traps and
Scams

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The Marvont Group: Asset Protection Traps and
Scams

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Sadly, asset protection planning has brought several scammers. This section has articles that tackle illegal trusts which include abusive trusts, pure trusts, charitable trusts, and equipment trusts. These articles thoroughly describe how these trusts are set up and, just as quickly, brought down by courts of law.

Current Information

·Abusive trusts: Someone will have to pay the taxes!

·Pure trust scams

·IRS targets five illegal trusts

·Constitutional trusts and pure trust scams

·Legal principles that is applicable to trusts

·IRS cracking down on trust scammers

·Abusive trust arrangements

You can always visit our website for further updates regarding Traps and Scams issues.

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Taxation and Offshore Asset Protection Planning by The Marvont
Group

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Taxation and Offshore Asset Protection Planning by The Marvont
Group

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Introduction to Taxation Issues with Offshore Asset Protection Planning

An asset protection trust with a U.S. citizen or resident as the settlor is normally structured to become tax neutral. In particular, as a result of the settlement of an asset protection trust, no further income, estate, gift or excise tax should be due. Likewise, the trust shouldn’t be expected to save taxes. It should also be pointed out that a foreign trust, despite the almost complete confidentiality it offers, can’t be legally (or safety) utilized to hide income from the long arm of the United States Department of the Treasury.

The U.S. Department of the Treasury has committed substantial personnel (often ex-CIA) and computer capacity to fight money laundering and abusive uses of offshore trusts, particularly through its new interagency task force known as FinCen, or the Financial Crimes Enforcement Network.

In addition, effective January 1, 1997, substantial and complex amendments were made to the Internal Revenue Code which can result in the imposition of large and unnecessary taxes and penalties on people utilizing foreign trusts. Considering this new legislation, The Marvont Group always strive to structure offshore asset protection trusts so that they are “domestic” for the purposes of U.S. taxation. This avoids a lot of reporting requirements.

If you’re a citizen or resident of the United States and considering an asset protection trust, The Marvont Group suggests that have it implemented by a real tax expert with extensive experience.

Please bear in mind that if you’re ever told that an asset protection trust, or any foreign trust, will save you income taxes, then you’re getting a bad advice and perhaps being asked to commit a crime along the way.

You can always visit our website for further updates regarding taxation issues.

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The Marvont Group Asset Protection Overview

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The Marvont Group Asset Protection Overview

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Understanding The Marvont Group Asset Protection Trust

An asset protection trust is a medium for holding assets to shield them from creditor attack. It is usually established in an offshore jurisdiction, although the assets will more often than not remain in the United States and Tokyo Japan under the indirect control of the “settlor”, or the person establishing the trust.

The creditors of the settlor cannot reach the assets of the trust as a result of a carefully constructed and timely settled trust.

These trusts are normally structured so that:
- They are irrevocable for a term of years and the settlor is not a current beneficiary.
- They are treated as domestic grantor trusts for tax purposes, even if they are "foreign trusts".
- The undistributed assets of the trust are returned to the settlor upon termination of the trust, given there’s no current possibility of creditor attack, thus allowing the settlor to recover complete control over the previously protected assets.

The Marvont Group in Tokyo defined asset protection trust in several ways, such as:
- It is an effective instrument to resolve or prevent litigation.
- It is a method to keep the ownership of assets completely confidential.
- It is an alternative to traditional prenuptial agreements.
- It is a hedge against possible exchange controls.
- It is a tool to protect pension assets and to give an insolvent debtor a fresh start.
- It is the ideal approach to avoid forced heirship laws that are common in Europe.
- It is a way to internationalize investment and hedge against governmental instability.