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Palm Beach Business Attorney
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Is offshore asset protection safe?

Offshore asset protection can be done safely if  it is done with the assistance of competent legal counsel. One should avoid nonlawyer “asset protection” companies or firms, particularly when there is lack of complete clarity as to who are the individuals “behind the curtain”. A lawyer is bound to rules of ethics and standards of competence and, if he or she falls short in those respects, you would have the right of recourse against the lawyer, including the right to file a grievance that would jeopardize the lawyers licensed to practice law. A nonlawyer “asset protection” company is probably done everything possible to evade legal process and is most likely not subject to any ethical oversight. A competent lawyer practicing in the arena of offshore asset protection structuring will be familiar with the banking, secrecy, and collection laws related to a variety of international jurisdictions, and will have a personal relationship with the professionals in the particular jurisdiction and who will be held to, by that jurisdiction, to the same standard of integrity as the lawyer would him or herself be held to in the United States. You should never become involved in an offshore asset protection “plan” if you do not have a thorough and clear understanding of the jurisdiction and of all of the “players” who will be involved in that plan. If any part of it is somewhat “mysterious”, you should consider that to be a warning sign.

Markarian & Hayes
Markarian & Hayes is located in Palm Beach, Wellington & Vero Beach, Florida and serves clients across Florida from Vero Beach to the Florida Keys, including those in and around Palm Beach, West Palm Beach, Pahokee, Delray Beach, Loxahatchee, Coral Springs, Boca Raton, Boynton Beach, Lake Worth, Deerfield Beach, South Bay, Pompano Beach, Hobe Sound, Stuart, Port St. Lucie, Sebastian, Fort Pierce, Hollywood, Tampa, Tallahassee, Orlando, Martin County, Broward County, Hillsborough County, Leon County, Palm Beach County, Fort Lauderdale, Miami-Dade County and Sebastian. The firm’s lawyers also have a long history representing clients’ interests throughout the Caribbean.
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