YOUR FAMILY PROSPERITY DEPENDS ON HOW GOOD YOUR FINANCIAL CAPITAL IS PROTECTED FROM BUSINESS RISKS
Asset Protection is a comprehensive service whose main purpose is to protect the family from the business and political risks associated with the activities of the head of the family, as well as the risks that may arise from the members of the family. Such protection can be provided by legal structures (trusts, funds) and the proper management of your assets.
How is asset protection achieved
Assets are transferred to the private fund as donations that can be received by the family manager, it's members, and from affiliated and unrelated companies. Thus, a private fund allows you to assign ownership to a property in a separate entity that independently accepts these rights and includes assets.
At the same time, in order to maintain control, the family manager himself can take part in private fund decision making, becoming one of the board members. Of course, the family leader has the opportunity to appoint all trusted people as members of the board.
The attraction of private funds can be complicated or simple, which depends on how the founder of the fund wants it. The only requirement is that each important decision must be approved by the licensed member of the board. Usually, this is a lawyer who has been licensed in the jurisdiction of the fund during registration process.
The head of the family determines the rules for the ownership, use and transfer of the inheritance as well as the rules for the change of board members. All this is stated in the articles of association. By law, such a fund is not listed or filed in a business register or other public institutions that guarantees anonymity of financial resources from third parties and government.
In this way, the creditors or other parties claiming the property of the founder of the fund can not legally acquire this ownership, if the fund documents and other contracts related to the fund are made correctly. This is a great solution to protect your property and assets from unwanted applicants to the ownership of the fund.
To find out more, please contact us.