Crypto investors are taking their operations overseas, and it’s easy to see why—many foreign countries have far more favorable laws when it comes to taxes, reporting, and cryptocurrency in general. These structures should be set up in a way that is consistent with both foreign and domestic laws, and that takes planning.
In this article, we’ll look at some of the advantages and requirements of offshore crypto-asset protection structures along with some general tips for success.
It’s important to know how to safeguard your wealth against creditors. A carefully constructed asset protection plan can help you tremendously in the event that you become subject to a lawsuit, and it’s an essential part of estate planning as well.
That said, there are a number of pitfalls that you should avoid when creating an asset protection plan. We’ll go over a few of the most common here.
Probate has the potential to be a bit long and drawn out, especially if there’s any dispute over how your estate should be disbursed. When planning how to handle your estate, it helps to know which types of assets go through probate and which ones don’t.
Following is a breakdown of which assets go through probate in the state of Illinois.
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