We at
PFGAP would like to show you how you can achieve asset protection
and financial privacy by placing your assets legally out of the
reach of collection attorneys and government agencies while you
maintain full use and control of the assets. John D.
Rockefeller said, “Own nothing and control everything”. Best of
all, this program of asset protection provides far greater
flexibility than expensive offshore trusts (that you may already be
familiar with) at a fraction of the cost and with equal or greater
protection.
THE
TRUTH ABOUT ASSET PROTECTION AND FINANCIAL PRIVACY
Why does anyone need
asset protection?
·
90% of all the
lawsuits in the world are filed in the United States with a new
being filed every 30 seconds.
·
Which do we have more
of – Doctors or Lawyers?
o
The American Medical
Association lists a total of 650,000 licensed doctors – MDs and
Doctors of Osteopathy in the United States and its possessions.
o
The American Bar
Association lists 7000,000 lawyers in practice today.
o
There are 67,000
medical students in school and 130,000 law students in school. With
just 5% of the world’s population, America has 80 % of the world’s
lawyers.
A highly
successful collection attorney for fifteen years says “I saw people
lose everything they had sometimes because of a judgment in a
frivolous lawsuit, a mistake a partner or business associate had
made and a divorce settlement that favored the other spouse.
Here is a
disturbing fact: If you own a business or practice as a
professional you have one chance in three of being named a Defendant
in a lawsuit in the next year.
·
It used to be that a
good defense in a lawsuit was that it wasn’t your fault – But not
anymore. REMEMBER the woman who was awarded $2.3 Million in a suite
against McDonald’s because she spilled hot coffee all over herself.
(The award was later reduced but not eliminated.
·
Most lawyers handle
these suits on a percentage basis: Their clients don’t pay them for
their time but pay them a third (or more) of the amount received
when they win or settle a lawsuit. In today’s litigious society, if
you own anything worth having, one of these lawyers will find a way
to come after you.
Any
of the following events could leave you penniless and in debt.
·
A negligence or injury
claim – whether justified or not – that exceeds any insurance
coverage you may have. Juries have gone crazy and they make awards
that are completely unreasonable. They may assume they are sticking
it to the insurance company but your not allowed to say in court how
much insurance you have – You may have a million dollars in
liability insurance, but today that may not be enough.
·
A professional
malpractice suite – an unhappy client or patient is just one phone
call away from a lawyer away from suing you.
·
Lawsuits from
disgruntled business partners or employees. The motto of America is
no longer “e pluribus unum” – its “I’m going to sue”.
·
Divorce – The sad fact
is that half of all marriages end up in court and judges are usually
not kind to the marriage partner with the money.
·
Huge fines for
violating a state or federal law because of the actions of an
employee. The fact is there are so many government regulations,
nobody knows them all – not event the government lawyers and to make
matters worse there are even conflicting regulations. If you are in
compliance with this agency, they your violating the rules of that
agency.
·
Claims from creditors
should your business fail. In MOST states a good collection
attorney can pierce through the corporate structure and go after you
personally.
·
Catastrophic medical
bills for a family member.
·
A huge tax bill and
escalating penalties following an IRS audit. In spite of taxpayer
bill of rights, the IRS is still an aggressive agency, operating
under laws that favor them. THEY say you didn’t pay enough taxes,
THEY add in interest and penalties and it’s up to you to prove them
wrong – AND they can SEIZE YOUR ASSETS even though you are
contesting the case.
Why take the
chance on losing everything that you have. Under the U.S. Legal
System, the deck is stacked in favor of the plaintiff and against
the defendant. This encourages the filing of spurious lawsuits.
That’s why so many lawyers specialize in contingency fee lawsuits –
they know that there is a good chance you will settle (pay them off)
rather than go to court.
FINAL
THOUGHT: A contingency lawyer ONLY gets paid when there is a
judgment or settlement. They WILL NOT waste time pursuing a case
where they can find no assets.
WHAT
IS ASSET PROTECTION AND FINANCIAL PRIVACY?
Asset
protection and financial privacy is a legal way to put your assets
beyond the reach of those who would like to take them away from
you. The BEST way to protect your assets is not to own
anything. If you technically don not own the asset, but
merely control it, then the asset is well protected – and you
still have the use of it.
·
Your assets are
legally owned by a corporation
·
The corporation issues
bearer shares. These are shares of stock that are legally owned by
whoever have them in his or her possession. This means that anyone
who DOES NOT have them in his or her possession is not the legal
owner, and can so testify in court.
·
Nevada is the only
state that permits corporations to issue bearer shares and it is the
only state that protects the privacy of the shareholders of the
corporation.
HOW
DO YOU PROTECT YOUR ASSETS?
The
best way to protect your assets is not to own any assets. This flies
in the face of the American Dream to own a home, a car or a stock
portfolio, however it is when you own an asset that it is vulnerable
to attack.
·
You protect your
assets by setting up a corporate entity to be the owner of your
assets that you have total control over.
·
To be effective, asset
protection must protect you assets legally and anonymously. You
must set up your asset protection and financial privacy plan in a
jurisdiction that supports asset protection.
·
You must act ahead of
time to protect what you own before it comes under attack because
once a lawsuit has been filed the law does not allow you to move
your assets.
·
Nevada offers the
greatest asset protection and financial privacy available without
going offshore. Nevada is virtually a tax-free state and has a very
low cost for establishing and maintaining a corporation.
·
You may establish and
own a Nevada corporation while maintaining complete anonymity.
·
Nevada is the only
state that does not share confidential information about its
corporations with the IRS – When the IRS asked for a reciprocity
agreement, then-Governor Bob Miller not only told them to get lost,
he held a public press conference to do it.
·
Nevada is the only
state that permits bearer shares.
Why
a corporation and why Nevada?
·
Under the law, a corporation is an
artificial “person”, completely separate from the people who own and
operate it. This is different from an individual or sole
proprietorship where the owner bears full and complete financial
responsibility for his actions.
·
Because it is an independent entity
a corporation’s debts and taxes are separate from those of its
owners, officers, and directors.
·
A corporation provides an
individual, whether in business, salaried, or on commission, with
the greatest personal liability protection. Private corporate lives
are never made public.
·
A Nevada corporation is required to
list only the names and addresses of its president, secretary,
treasurer and directors with the Secretary of State. One person may
hold ALL of these positions and this one person can be a nominee
that we provide, ensuring your complete privacy.
·
Nevada law clearly makes the action
of a corporation’s representatives exempt from personal
responsibility except in cases of outright fraud. Many other states
now allow lawsuits to “pierce the corporate veil” and enforce
liability for the debts and actions of the corporation on its
officers and directors.
·
Nevada is the only state that
permits corporations to issue bearer shares, the form of stock best
suited to guarantee the owner’s anonymity. The person who has
possession of the bearer shares of a corporation is legally the
owner of the corporation. This makes it almost impossible for
anyone to track down the ownership of your Nevada Corporation.
Other
Benefits of Nevada Corporations: