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Title:
How To Hide Assets

Word Count:
516

Summary:
In social functions, I always get asked about "How do I hide my 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...


Keywords:
hide assets, llc, limited liability company, irrevocable trusts,
independent trustee, protect assets


Article Body:
In social functions, I always get asked about "How do I hide my 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 or call Estate Street Partners toll-free 888-938-
5872.

				
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posted:3/14/2010
language:English
pages:2