Hi, I'm Wayne Patton. I'm an asset protection attorney and the founder of Asset Protection 10X. If you're here, it's probably because you're looking for ways to protect yourself and your wealth. You've come to the right place.
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The Asset Protection 10X Trust Kit & Course is the most cost-effective way for you to form an offshore trust. It costs about 1/10th of what the typical attorney charges to form an offshore trust.
The AP10X program is a do-it-yourself kit combined with extensive instruction that will allow you form and then understand how to operate an offshore trust in the most protective offshore jurisdiction in the world.
At the end of the course, you will have a self-settled asset protection trust. That simply means that you'll be the creator of the trust, the person in charge of the assets (i.e. the trustee), and the beneficiary. All the assets that you put in the trust will be protected.
In general, offshore trusts are for young professionals with high future earning potential, established professionals who are concerned about malpractice lawsuits, real estate investors, business owners, high net worth individuals, people who own "risky" toys like airplanes and boats, and anyone worried about geopolitical risk.
Asset protection planning is the use of legal structures to place assets beyond the reach of future of potential creditors. It is legal planning that does not in any way involve evading taxes or secretive or fraudulent agreements. Our techniques are based on proven legal strategies that have been tested over time in the context of estate planning and business law, and asset protection is a field recognized by the American Bar Association.
Yes, you can. The typical real estate investor will want to use an offshore trust to hold profits and from which to manage a loan portfolio or liquid assets that they want to insulate from personal guarantees, but rental real estate can be held and protected in offshore trust. We'll walk you through the process.
Absolutely. I am a lawyer and cannot and will not advise you to take any action that is unlawful or illegal. Asset protection is a specialized practice that is recognized by the American Bar Association. The key to effective legal planning is to put it in place before potential creditors attack you. In that case, asset protection planning is 100% permissible. If you are currently being attacked by creditors, you may still have some options available to you, but they will be limited because of “fraudulent transfer” laws. However, even transfers made at the eleventh hour are not typically considered illegal. They are, however, subject to being set aside – “clawed back” – by a court. The course will cover this topic.
As for offshore and self-settled trusts, they are absolutely legal. The historic public policy in the United States has been to offer no asset protection for self-settled trusts. However in the past 20 years, many states have reversed there opinion on this matter, and self-settled trusts are now permitted by statute in many states. These structures are called Domestic Asset Protection Trusts or "DAPTs." The problem with DAPTs is simply that they are still subject to the U.S. Court System, so a judge could pierce the planning. This is especially the case if you live in a non-DAPT state.
DAPT planning costs and ongoing fees are about the same as using an offshore self-settled asset protection trust, and there have been many cases decided in the U.S. that have pierced domestic asset protection trusts. If your concern is asset protection, offshore trusts are almost always preferable to domestic asset protection trusts.
Yes, properly structured asset protection plans stand the test of time. AP10X Trusts are supported by statutes, case law, and by the laws of the offshore jurisdictions we use (if you ever you ever have to “trigger” your plan by resigning as trustee). While our offshore planning clients have faced potentially catastrophic lawsuits, none of our plans have ever been pierced. Our trusts are supported by statutes and/or case law, and such trusts prove highly effective in the face of litigation. They also serve to deter litigation before it ever gets started.
Not if the assets are inside a properly formed offshore asset protection trust and in the proper jurisdiction at the time when the obligation underlying the judgment is incurred. While a U.S. court can order that assets held offshore be used to satisfy a judgment, those orders will simply be disregarded by the offshore trustee. If a plaintiff wants to attack your offshore plan abroad, they will face a shortened two year statute of limitations, a litigation system that does not allow contingency attorney fees, upfront costs of $250k, and they will have to prove their case “beyond a reasonable doubt.” It’s a pretty tough burden, and I know of no case that has successfully challenged such a trust.
Prudent planning dictates a healthy combination of asset protection strategies and liability insurance. There are three main reasons that you need asset protection and insurance. First, if you read your insurance policy carefully, you’ll see that it does not cover you for punitive damages or intentional wrongdoing (a jury will decide if you committed an intentional act or owe punitive damages, not you). Scopes of coverage seem to be decreasing, and the moment a claim is filed against you, your insurance company will begin looking for ways to limit or deny your coverage. Asset Protection, on the other hand, always works to defend you. Second, there is always a possibility that you could be sued for more than your coverage limits. Third, unlike insurance, asset protection can survive you. By properly integrating your asset protection plan with an estate plan, you can provide continual protection for your loved ones after you pass away, so not only do you get the benefit of this planning, but your heirs get it too.
Not at all. Revocable living trusts provide virtually no protection for your assets. They are intended only to make sure that your estate “skips” probate court upon your death. While a revocable living trust does provide you with some degree of privacy, a court can order you to revoke it and pay your creditors, and you'll have to comply or face being held in contempt of court.
Plaintiffs attorneys don’t take cases unless they believe they will get paid, and an asset protection plan makes it very difficult for aggressive attorneys to collect fees. If you are targeted in a lawsuit, the existence of your asset protection plan, in and of itself, can oftentimes be enough to completely deter litigation. If you are ever sued, there is a strong possibility that you’ll be able to settle the suit for pennies on the dollar once your plan is disclosed. In short, asset protection planning makes you a very unattractive litigation target.
Sometimes, but the in the cases where it works, you will lose control of the assets that you gift. In addition, you will lose the income derived from the gifted assets, and you will incur gift taxes if you give assets to anyone other than your spouse. Finally, if you make a gift while a creditor is lurking, a court may decide to completely “undo” the gift, which means the asset won’t be protected at all. Worst of all, if you give your assets away, a court in the U.S. can impose a monetary judgment against the recipient (i.e. your spouse, children, brother, sister, parents, and/or best friends). Gifting is NOT a good option, because you don't want to cause trouble for your loved ones.
Any asset protection plan that requires secrecy or the hiding of assets should be avoided. Virtually all foreign bank accounts are now reported to the U.S. federal government, and if you are sued, the existence of your foreign accounts can easily be discovered. If you have lied about the existence of foreign accounts, you could find yourself in very hot water.
I know the trust company I recommend very well and personally meet with them several times per year. They have been in business for over 30 years, and I have never heard a complaint about them being untrustworthy. In fact, the only complaint I've heard from clients is this: "I wish I had put all my money in the trust."
For the most part, you will have complete and absolute control over the assets in your plan. The offshore trustee will have no say in the day-to-day use of your assets until you say so. You can also require that all trust accounts and asset transfers be countersigned by both the trustee and the protector. Finally, you (or your protector, in the event you choose to resign as co-trustee) will have the authority to remove and replace the offshore trustee at any time.
Yes, if you hire the wrong attorney to form your trust, but it's very unlikely if you use AP10X. A court can order you to do any number of things, but you can only be held in contempt if you fail to do something that is within your power. Your offshore asset protection plan will instruct the offshore trustee to follow your instructions only if you declare, under penalty of perjury, that a court is not ordering you to repatriate your assets. A court cannot order you to commit perjury, because the Fifth Amendment to the United States Constitution gives the right against self-incrimination.
As a practical matter, if you are not under duress, the trustee will do whatever you order, or the trustee will be replaced. The trustee can always be removed by your protector, even if you are under legal duress. However, the trust will provide that the protector cannot replace the trustee if ordered to do so by a court, yet the protector will continue to exercise its veto power to protect your assets. We have you covered from every direction.
Our plans are tax neutral. While they may require a few additional tax filings, the bottom line tax liability will remain the same. Anyone promoting a structure that gives you complete control of your assets, complete use of your assets, and tax savings is likely promoting a scam.
Any country used for asset protection must have a specialized statute for the protection of assets held in self-settled trusts. Qualifying countries must also have a healthy economy, favorable tax laws, a stable government and social system, advanced English communication capabilities, modern telecommunications, favorable laws of legal procedure (e.g. refusal to honor judgments of U.S. courts and not allowing attorneys to work on contingency fees), well educated professionals, a history of geopolitical stability, adequate disaster relief planning, and a proven track record supporting the use of self-settled trusts and providing protection for assets held in self-settled trusts. All the trust companies we recommend are EXTREMELY responsive and accessible and have very long track records working with me personally.
Yes, we can make recommendations, but offshore banking can be expensive depending on your net worth and how much you want to send abroad. In many cases, offshore banking doesn't make immediate sense. What you'll probably want to do is form a domestic limited liability company (an "LLC") to hold your assets, and then give ownership of the LLC to the offshore trust. That way, you can manage all the assets, and if there is ever a lawsuit filed against you, you can "upstream" those assets directly to the offshore trustee. This structure will save you a lot of time and money.
You will need to engage an offshore trust company to serve as the offshore trustee. That is a requirement of international law. The fee to engage the offshore trust company we recommend is $3,750.00. I get no part of that fee. I only recommend one trust company, as I have a long history and great relationship with them, and over the course of many years, I have had no customer complaints at all. Can you find a less expensive trust company? Possibly, but it won't be much cheaper, and we can't vouch for them. This is not the place to pinch pennies, because if the day ever comes when you really need the offshore trustee to step up to the plate, you want to know that the best in the business has your back.
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*All testimonials and endorsements on this page and in videos are for Wayne Patton's law firm, While Wayne Patton is the creator of the AP10X Offshore Trust Kit & Course, you are not hiring Wayne Patton as a lawyer or engaging a law firm when you purchase the AP10X Kit & Course, nor does this website offer legal advice. Rather, you are purchasing a do-it-yourself kit together with an online educational course. Some identifying facts in the case studies have been altered to protect client identity.