It depends on the situation of your investment. To enforce their judgment against your assets, your creditor must obtain a judgment in the state where your assets are located. When your assets are located in another state, your creditor must obtain a judgment from that state to seize those assets. Courts in one state cannot seize property in another state. Relocating your liquid assets to other states can thus delay or frustrate a creditor attempting collection. But, obviously, this is seldom a good long-term strategy – though it can delay seizure of your investments until you develop a more formidable plan. Additionally, each state has different laws which governs a creditor’s ability to access or have a judgment against your asset, and may even have a special set of laws governing particular type of assets such as certain investment accounts.
An example would be bearer investments. This type of investment would be regulated differently than other bonds or security instruments. These type of investments are also used for their privacy. Gold, diamonds, art, stamp collections, coins and collectibles are self-protective to the extent they’re easily stored or transported internationally, and their ownership is confidential and private. For more privacy, you can buy and sell these collectibles through a third party- such as an international entity. Gold or diamonds occupy little space, and can be converted to cash with confidentiality and privacy. Private vaults in international countries provide even more secrecy. Be sure to pay your taxes on any profits from these investments.
In any event, you want to title these accounts to a protective entity – such as an FLP or LLC in another state. Also, for maximum safety, keep these accounts in banks or brokerage firms whose offices are outside of your own state.
For more information on International Asset Protection, contact The Presser Law Firm, P.A. for a complimentary preliminary consultation.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(561) 953-1050 or e-mail Info@AssetProtectionAttorneys.com