Asset Protection is no longer for the rich and famous. It’s also for the common man, thanks to the work of former collection attorney Bill Reed. In this informative article, he talks about why people want asset protection, and the benefits of incorporating in Nevada.
Bill Reed has started a syndicated news column available at:
http://www.thewayiseeitbybillreed.com
The RSS newsfeed for column updates is:
http://www.fromthedeskofbillreed.com/journal/rss.xml (Newsreader required)
A podcast version is available through iTunes or http://assetprotection.blogmatrix.com
Here’s Bill’s latest column
The Way I See It
by William S. Reed
President, Asset Protection Group, Inc.
Why Do People Want Asset Protection? (2/27/06)
I’m President of Asset Protection Group, Inc. Our goal is to show everyday people how to protect their assets from lawyers, lawsuits and the prying eyes of the Federal Government. Rich and famous people have been doing this for years (centuries?) by carefully constructing their financial lives so that nothing is in their names. Our company did not create or invent anything new, we just simplified these strategies and made them available to people that may not be rich and famous.
The key to any asset protection strategy is financial privacy. As a Federal Judge once told me, “If I can find an asset, I can seize it.” Federal Judges are smart, tough, appointed for life, they can’t be sued, and their orders are executed by Federal Marshals and the Marine Corps, if necessary. Their job is to enforce Federal Laws that supersede any state law, they are proud to be employees of the Federal Government, and they work for pride and prestige. They do not receive any bonuses, stock options, promotions, restricted stock, or golden parachutes. They’re not in it for the money, they’re in it for the power and the unfettered ability to inflict pain, seize assets without due process of law, and imprison anyone that challenges them by holding them in contempt. We advise our clients not to confront, cajole, debate with, or attempt to seek justice from any Federal Judge. We’re outnumbered, outlawyered, their resources are infinite, and if you ‘win’, they’ll appeal. It’s never a fair fight and the little guy never has a chance. Our only hope is to play defense. Crouch behind the hedgerows, build tunnels like Cu Chi, use electronic wire transfers, user IDs and passwords, pay your taxes religiously (don’t give them a target!), and keep your head down.
W. and The Shooter are eavesdropping on our phone calls and emails without court orders. They torture the ‘detainees’ (not prisoners) at Gitmo. No, I mean real torture. . . they blare 80’s music into their heads so they can’t sleep. Talk about ‘cruel and unusual.’ If you deposit or withdraw more than $10,000 in cash, Money Orders, or Cashier’s Checks, the bank (or any financial institution) will file a Currency Treasury Report on you with the Treasury Department. If you want to avoid the Report by depositing $5,000 on Monday and $5,000 on Tuesday, that is a Federal Crime called ‘structuring.’ It’s a felony. All financial institutions are required to file ‘Suspicious Activity Reports’ with Treasury on any of its customers. For a definition of ‘suspicious’ I suggest you contact The Shooter. He’s bunkered down somewhere inside a circle of Michael Jackson styled SUVs on the Teton Village side of Jackson Hole. Remember, this is the same guy that promoted the idea of fingerprinting any ‘foreigner’ that entered the country. What is a foreigner?
We offer Nevada corporations and International Business Companies to give our clients privacy. There are lawyers and other promoters offering alternative products. If you think the entities they are selling will give you greater privacy. . . use them. There is a plethora of misinformation on the Internet about our company and asset protection in general. I’m not interested in engaging in a shin-kicking contest with a group of out-of-work bloggers with too much time on their hands. Suffice to say, we’ve been selling corporations for 13 years and they work. I learned the business from financial planners, accountants, and money managers in Southern California specializing in managing the assets of wealthy Hollywood celebrities.
Nevada, with only 2.5 million people, is selling almost 8,000 corporations a month making it the incorporating capital of the country. The Mob promulgated the Nevada Corporate Code back in the 1970’s when they owned and operated Las Vegas. They wanted to make sure no one could identify the owners of the corporations running the casinos. They wanted to create a corporate entity where a single person could fill all the corporate positions – President, Secretary, Treasurer, Director – and this person didn’t have to live or reside in Nevada. They did away with all state personal and corporate taxes ensuring the Secretary of State would never ask any questions about the owners or operators of these corporations. They wanted their involvement with these corporations and casinos to be invisible. They wanted their companies to be private. That’s why our headquarters are in Las Vegas. We’re not here for the natural beauty.
The Mob boys are gone now (no more free drinks). In the 1990’s, Wall Street came to town and bought them all out. Every casino on the Strip is now owned by a publicly traded company listed on an Exchange. But the corporate code they created remains intact. Nevada allows nominee officers and directors, there are no state taxes, and the Secretary of State does not ask or collect any information on the owners of any corporation.
As for the Offshore business, we form an International Business Company in the Commonwealth of the Bahamas and take it to the Cayman Islands and open numbered, corporate, stock brokerage accounts that are insured up to $20 million an account with the Lloyds of London. Money moves by wire transfer only. Our company is partnered with a CPA firm to help our clients report their offshore income both legally and discreetly without ever revealing their names or Social Security numbers. A Federal Judge cannot seize what he can’t see. A Federal Judge has no jurisdiction beyond the borders of the United States. Bill Gates has offshore accounts in 117 different countries. Most of our clients need just one.
Your cash, bank account, business, or any asset can be seized by a Federal Judge without notice, due process of law, right to counsel, or your day in court. Hamilton and Jefferson would roll over in their graves if they could see what W. and The Shooter have done to our fundamental freedoms. Blasting his buddy in the face is a metaphor for what The Shooter has done to the Bill of Rights.
We have more lawyers and lawsuits per capita than any country in the world. Ninety percent of all lawsuits are filed in the United States. If you had any moral compunction about protecting (hiding) your assets, as a former collection attorney, I can assure you that I have never met an attorney with a whit of compassion come collection time.
So get moving. Executing any asset protection strategy is easy and effective, but it must be done in a timely manner. . . long before you have a legal problem. Nothing is perfect, nothing is 100%, but your options are limited. You can do nothing and leave your assets exposed to the jackals or you can melt into the anonymity of financial privacy.
Asset Protection Group Links
http://www.apgnv.com
http://www.billreedassetprotection.com
http://www.assetprotectionforums.com
http://www.thewayiseeitbybillreed.com
http://www.from the desk of billreed.com
