Passive Income Blog

Piercing Asset Protection Structures

How does the asset protection corporate veil get pierced regarding an offshore bank account? Well a court order to get the information regarding a bank account, a trust, a corporation or a foundation is going to be required.

Such court orders are generally reserved for serious criminal matters like narcotics, terrorism etc. Civil matters from countries outside of the jurisdiction where the bank is would rarely if ever result in the production of a court order for information.

Be Prepared

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Thousands of lawsuits are filed daily, many without any merit, filed by people looking for easy money. In our lawsuit-plagued world, proper structuring to separate yourself from your assets, and all of the potential liability that follows, is almost a necessity… or should be anyway!

“If you and your family have assets, including cash, stocks, property, businesses and inheritance, then you are vulnerable to losing everything you own by a single lawsuit or judgment brought against you,” warns Kevin Wessell, CEO of Offshore Company, a leading asset protection and offshore services company in business since 1977.

“Everyone is vulnerable and everything you own can be taken away in a split second by one simple court judgment brought against you. Think of a simple everyday situation that can happen to anyone. You are driving your car, minding your own business when suddenly you are involved in an accident. The other driver decides to file a lawsuit against you. The plaintiff’s attorney not only investigates what your insurance policy covers, but what your assets are worth, including money in the bank, stocks, home, properties and businesses you and your family own. The plaintiff’s attorney now has an idea how much you are worth and how high they can set the lawsuit. In this simple everyday situation, one split second (the accident) could cause the loss of everything you and your family owns,” cautions Mr. Wessell.

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