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.