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Know Your Assets Cannot Be Taken From You, Your Retirement Cannot Be Destroyed And Your Family Is Protected.
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The IWPS strategy is a dual entity structure consisting of Belize or Cook Island Low Profiler Offshore Trusts which owns Nevada or Wyoming Cache LLCs (see Diagram, IWP Strategy). This dual entity structure provides the utmost in anonymity and privacy. The structure is commonly used for asset protection, offshore banking and offshore investing. The Cache LLC either holds all your major assets, such as bank accounts, brokerage accounts, real estate, etc., or LLCs, owned by the Cache LLC can be set up to isolate potential liabilities from your other assets for even greater protection (see Diagram, IWP Strategy). The Low Profiler owns the Cache LLC and controls the offshore bank accounts. You own nothing and you control everything. Low Profiler offshore trusts are both domestic and foreign. As long as the Low Profiler meets the IRS's Court and Control test (it is controlled from within the U.S. and is subject to U.S. court jurisdiction) it does not have any special IRS reporting requirements. Therefore annual administration is simple and inexpensive. The IWPS has proven to have incredibly effective asset protection benefits. |
Essentially, at the time of formation, Low Profilers are not offshore trusts. They are domestic trusts with the ability to become offshore trusts, if necessary. In fact, although set up as Low Profiler asset protection trusts, most never have to exercise the option to become true offshore asset protection trusts. The reason is that most creditors quickly back off once they find that the IWPS is in the picture. The creditor knows that an attack is futile. In fact, creditors that could argue that the trust was set up after he had made his claim, rarely do. It is simply too expensive for them to go down that path. In the 40 years I have practiced law, only a few Low Profiler offshore trusts needed to convert to truse offshore status. In all other cases the creditor either walked away or the client was able to negotiate a satisfactory settlement.
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