This article is somewhat sensational (like most lay-articles on the subject of Asset Protection) in that it focuses on the “bad users” but the science is still sound.
There are likely more people abusing tax deductions and self-directed IRAs than the kind of well timed and tax neutral offshore trust planning which we’ve helped 1000′s put in place legally.
I’m still a big believer in the Offshore Asset Protection Trust when done right. This means:
1. Fully disclosed and with no abusive tax plan involved;
2. Done by a professional; and
3. Done with no pending creditor issues.
SEE THE NEW YORK TIMES ARTICLE HERE: