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Protect Yourself against LIABILITY |
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As a private person as well as a business person, you can never truly escape liability. But you can eliminate its unpleasant financial consequences for yourself, your family, and your business, in case you should face a liability problem, whether the claim is genuine or frivolous. | |
You can cover certain aspects of
your liability through insurance. However,
these insurances, especially for
professional activities, will rarely cover
what you really need to
protect yourself - unless they become
outrageously expensive...You might still need liability insurance as a formality, in order to run your business. Your customers might expect it as a prerequisite for doing business with you - or your government might demand it in order for you to obtain the licenses you need in order to operate your business legally. In those cases, you simply buy the insurance that fits this particular purpose best. For business liability, you can obtain a very effective protection through incorporating, particularly if you work with multiple corporations, even for a small business. For your personal protection, however, you are far better off making yourself invulnerable. This means that you transfer ownership of all your assets to an affshore entity that is not liable for your actions. For this to work for you, you need:
Once you have your assets owned by your offshore entities, you will legally own nothing - and hence will not suffer any consequences of whatever claim you might be subject to. You do not even have to defend yourself in court, because it does not matter if you lose the case! You can accept the liability, but it will not have any financial consequences for you, regardless the claim. |
Here is the outline for
what you should do to protect yourself from
private and professional liability:
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**************Warning!************* |
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Did you sign up for the free information about
how to effectively protect yourself and your family?
If not yet, please go to the sign-up form now!
(If you don't, you forfeit your moral right to complain
about any loss you and your family might incur because of a lawsuit hitting you...)
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Assessing the advice you can get from a professional advisor When you think about asking a professional advisor, like your accountant, your lawyer, of your financial planner, you need to understand where they are coming from, before you blindly accept their answers to your queries. This is particularly true if your questions have anything to do with "going offshore"... These professionals have learned what they have learned through education provided for by the government, one way or the other. This means that they are "fully qualified" for their job if/when they know nothing but what the government wants them to know... These professionals generally further depend on a government license in order to maintain their practice - and thus their income... Question: What kind of advice do you think you will get from them when you inquire about something your government most definitely will not like you to do, such as your "going offshore" and pulling assets and income streams out of the government's control and tax base? |
