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Asset protection is the long-established process of so arranging one's affairs as to minimize the risk that one's wealth will be seized, either by prospective litigants, future creditors, or a taxing authority. When asset protection is undertaken with due regard for all relevant laws and regulations and for lawful purposes, it may also be referred to as wealth retention.
There are a number of potential vehicles which can be used for asset protection.
For instance, Limited Liability Corporations (LLCs) can be used to limit personal liability from risks associated with a particular asset (such as a rental property.) Other options include onshore and offshore trusts.
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