In many cases we do. For maximum protection, it's best to have your limited partnership interest owned by an international Asset Protection trust. Under this arrangement, family members can be the general partners and control the partnership and its assets until a creditor threatens the partnership or its assets when the partnership can liquidate its assets. If an international trust owns, say 98 percent of the partnership, and serious trouble strikes, the international trust would receive 98 percent of the liquidated partnership assets. The partnership proceeds now internationally would be considerably better protected. Moreover, if an international trust owns the limited partnership, it is not subject to charging orders arising from claims against family members. The limited partnership/international trust is almost a standard arrangement for more significant wealth protection plans.
