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Asset Protection

Asset protection is the process of arranging one's affairs to minimize the risk that one's wealth will be seized, either by prospective litigants, future creditors, or by a tax departement. 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 several vehicles which can be used for asset protection. For instance, Limited Liability Corporations can be used to limit personal liability from risks associated with a particular asset (a rental property, for example). Other options include onshore and offshore trusts.