tpcook said:
George, I have learned that the best way to protect assets is to have them in separate trusts. i.e. you no longer own them and so they cannot be attached in litigation. So if you are sued personally in the BVI for an accident, your home in the USA is in a trust which cannot be attached. Same with a yacht, have it in a corporation or a trust.
That's life today.
That can be a good hedge against risk. What that style alone does not do is arm you with good defense attorneys when you are accused of some damage. That is why I vote for a solid global liability umbrella that will defend you at no cost to you with the right attorneys for the jurisdiction you are summoned from. The costs to source your own one off legal counsel can be unmeasurable. When you create multiple entities you may find yourself forced to insure each one of those entities individually at far greater cost. I hope you have a really good set of lawyers building those trust walls for you.
