Even though Michael was completely innocent, he still had to pay around $50,000 – and waste months of valuable time – to make the case disappear.
But there are a few steps Michael could have taken to avoid this headache. And, today, I’m going to share one of the best ways to protect yourself from greedy lawyers and claimants.
The right asset protection strategy serves as a huge deterrent against frivolous lawsuits and professional plaintiffs.
Here’s a great example: we often establish holding companies in places like Nevis; it’s a Caribbean jurisdiction that has strong asset protection laws that favor hard-working, law-abiding people who want to reduce the risk of inane lawsuits.
If you hold a portion of your assets through a Nevis company, anyone who wants to sue you is in for a LOT of trouble.
First off, they’ll have to put down a big payment as a deposit.
And since Nevis won’t recognize a foreign court’s judgement, they will have to actually travel to Nevis, hire another team of local lawyers there, and fight it out in a Nevis court that doesn’t have the same loose precedents as your home country.
This makes the process VERY expensive VERY quickly for anyone coming after you.
Most importantly, if they do win the lawsuit, Nevis law restricts their award to something that’s called a “charging order,” which is a loose claim on potential profit in the future.
In other words, even if someone wins a lawsuit against you, they typically won’t actually be awarded any cash or assets.
Given the minimal benefit, most people simply won’t bother bringing legal action. It’s not worth it.
But a foreign holding company is just the first step. There are even higher levels of asset protection.
A foreign trust, for example, is an almost-bulletproof asset protection plan. It ensures nobody — from government agencies to frivolous creditors — can wrongfully take your hard-earned assets.
But a foreign trust isn’t for everyone. They can be very expensive to set up.
Still, trusts are one of the best tools for honest people who are concerned about frivolous litigation (like my friend Michael), civil asset forfeiture or the constant overreach of government agencies gone wild.
I know lots of lawyers who charge $50,000 or more to set up a trust. I think it’s absurd.
So, I did something about it…
Several years ago, my colleagues figured out a way to dramatically cut those costs by putting everything together in a step-by-step Foreign Trust Kit.
This Trust Kit is the most comprehensive we’ve seen. And it can literally save you tens of thousands of dollars in fees. This kit has sold for $295 in the past… Which is already dirt cheap, considering the enormous savings it provides when establishing one of the best asset protection structures in the world.
But we want to give you this Foreign Trust Kit for free.
It’s a gift when you sign up for Sovereign Man: Confidential today. And the free trust kit is in addition to the generous discount we’re already offering on Confidential.