Offshore Planning & Asset Protection

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Offshore planning involves developing a strategy for establishing legal entities in favorable foreign jurisdictions. The purpose of offshore planning is to provide protection of assets from third-party claims.

Benefits

The primary benefit of offshore planning is that it allows investors to avoid third-party legal judgments. Offshore planning works, foremost, because certain offshore jurisdictions do not recognize U.S. court-rendered judgments. In order for legal clams to attach to banking and investment assets located in such jurisdictions, a creditor must file a lawsuit against the defendant in a foreign court.

The secondary benefit offered by offshore planning is that offshore jurisdictions have relatively shorter statutes of limitation on fraudulent transfers over their domestic counterparts. Domestic asset protection is often susceptible to a creditor’s allegations that the debtor has transferred assets, or has converted one type of asset to another asset, in an effort to defraud or delay creditors’ collections. Almost all U.S. states have a statute of limitations that runs for four years, which means that a creditor’s attorney can attach claim to a debtor’s assets up to four years after the transfers have taken place.

Harbor Financial Services (HFSoffshore.com) has extensive international connections. These connections make it possible for HFS to offer clients the best products and services globally. Because HFS has so many options at its disposal, the company can recommend the best jurisdictions and institutions to suit a particular client’s wants and needs.