We are all interested in protecting our assets, doing our best, hopefully with the help of an asset protection attorney, to avoid excessive taxation and predatory lenders. During these days of malevolent use of elaborate schemes and sophisticated technology, we should all also be aware of protecting our accumulated worth from scam artists. Those who try to fleece us are happy to use our fear of being defrauded against us. In the guise of helping us protect our assets, they manage to separate us from them. Many such scams not only leave victims with fewer assets, but with serious problems with the IRS that may lead to penalties, fines, and even jail time.
How to Avoid Scam Artists
The best way to ensure that you are not dealing with someone who is attempting to bamboozle you is to reach out to an asset protection attorney who is well-credentialed and well-reviewed. This way you will make certain that you are in the hands of a true professional who will make sure every action you take is legal as well as effective.
How to Identify Asset Protection Scam Artists
No matter how knowledgeable or clever you are, it is possible to be fooled by those whose occupation it is to lead you astray. Typically, con artists have experience in their trade and know just how to manipulate you. They will usually play on your fears of asset depletion and anxieties about leaving your family unprotected, as well any distrust you may have regarding the integrity or competence of the IRS. Asset protection scam artists will likely try to win you over by offering:
- Trusts that will eliminate all tax liability
- Trusts to protect you from lawsuits when you have already been served with papers
- Trusts created to protect marital assets after your divorce is already in
- Trusts established to disguise the true recipient of the trust’s income
- Trusts designed to hide your assets from creditors who are already on your tail
- Trusts that will eliminate taxes while allowing you to retain full control of your assets
- Dummy charitable trusts in which to hide your funds
If a supposed “asset protector” tells you that he or she has established many such trusts with impunity and that his or her methods are perfected to go under the radar of the IRS, you should run in the other direction. Getting caught up in establishing a fraudulent trust can not only lose you significant amounts of money,
It’s important to remember that the IRS and the government