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One of the best ways to protect your personal assets when running a business. is to use a legally approved form of entity for your business. that protects owners against personal liability. Today, this is commonly a corporation, limited liability company or limited. partnership.
There are many people who believe that offshore trusts and accounts should be the very last method employed, and this is true. The use of an offshore trust is one of the most common devises used by wealthy individuals who want to protect their assets from those lawyers seeking to sue them.Generally, an offshore trust should be the last resort and it is not the only way to protect your assets, nor is it always the most effective.The key to protecting your assets is to find a way to transfer ownership of those assets. Another misconception is that jointly owned property is safe.nfortunately, many people are not aware that there are things that can be done to protect yourself and your assets. The above mention methods are only a few of the many ways. Many people have the misconception that the only way money is safe is if it is in an offshore account.