How do I protect myself from others

[wilsco]

How do I protect my Assets from others

I will be accepting a position as a Registered Investment Advisor with a company to sell mutual funds, Annuities Etc.

How do I protect my personal assets in the event some client decides I have something they want (my assets)?

Personal assets include Cash, Stock, Mutual funds, IRA, Personal Residence and other real property.
Age= Mid 30's
Florida Resident

What about an "offshore Trust".

Wilsco

 

[I AM ALWAYS LIABLE]

Re: How do I protect my Assets from others

I will be accepting a position as a Registered Investment Advisor with a company to sell mutual funds, Annuities Etc.

How do I protect my personal assets in the event some client decides I have something they want (my assets)?

Personal assets include Cash, Stock, Mutual funds, IRA, Personal Residence and other real property.
Age= Mid 30's
Florida Resident

What about an "offshore Trust".

Wilsco

My response:

You don't need to go offshore to protect yourself.

You can incorporate yourself, and only if you do something purposeful, the "corporate veil" cannot be breached. Everything belongs to the corporation, and you are an employee, paid at the rate of $1.00 per year.

Or, you can create a "Family Trust". Call it the <your last name> Family Trust. Everything you own, and will own, is transferred to the Trust, and purchased by the Trust. In this case, you are a pauper, owning nothing yourself. In the event you do something wrong, no one can touch your assets because you have none to touch. The Trust, like a corporation, is a separate entity from yourself. Unless the Trust does something wrong, it is safe.

See an Investment Advisor for more details . . . whoops, you ARE an Investment Advisor!

IAAL

 

[Andi]

Re: Re: How do I protect my Assets from others

I will be accepting a position as a Registered Investment Advisor with a company to sell mutual funds, Annuities Etc.

How do I protect my personal assets in the event some client decides I have something they want (my assets)?

Personal assets include Cash, Stock, Mutual funds, IRA, Personal Residence and other real property.
Age= Mid 30's
Florida Resident

What about an "offshore Trust".

Wilsco

My response:
It's not whats said but the way you say it. I guess your mother didn't teach you manners either!


You don't need to go offshore to protect yourself.

You can incorporate yourself, and only if you do something purposeful, the "corporate veil" cannot be breached. Everything belongs to the corporation, and you are an employee, paid at the rate of $1.00 per year.

Or, you can create a "Family Trust". Call it the <your last name> Family Trust. Everything you own, and will own, is transferred to the Trust, and purchased by the Trust. In this case, you are a pauper, owning nothing yourself. In the event you do something wrong, no one can touch your assets because you have none to touch. The Trust, like a corporation, is a separate entity from yourself. Unless the Trust does something wrong, it is safe.

See an Investment Advisor for more details . . . whoops, you ARE an Investment Advisor!

IAAL