It's Not Just for the Very Wealthy
With litigation and regulation continuing their steadfast march, individuals who pursue an offshore strategy are becoming increasingly diverse. If you answer "yes" to even a few of these questions, you might benefit from an international financial plan:
- Do you have a net worth over $1 million?
- Do you have liquid personal property with a value of more than $500,000?
- Are you in a profession with a high risk of litigation, such as medicine, surgery, law, accounting, architecture, engineering or manufacturing?
- Do you consider financial privacy to be a priority?
- Have you recently sold a business and want to protect the proceeds?
- Are you about to get married?
- Are you engaged in both high-risk and low-risk businesses?
- Are you a guarantor, indemnitor or surety, where your liabilities are contingent on the success of others?
- Do you ever wish to buy business property so that the sellers (or your competitors) will not know the identity of the true owner?
- Are you a general partner in a real estate or other partnership?
- Are you an officer or director of a publicly traded U.S. corporation?
- Do you have children who are prone to risky activities?
- Do you have disabled or special-needs family members?
- Would a potential plaintiff perceive you to have "deep pockets"?
- Do you lease out equipment or rent out commercial property, or are you an apartment owner?
- Have you been underinsured or uninsured for any period of time?