The more control one has over an asset the greater the risk of a creditor obtaining it. Many people are uncomfortable giving up any significant degree of control. A balance between control and safety must be structured. Tax and financial planning are also part of asset protection. An asset protection plan may increase your tax and reporting burden.
Many entities require additional accounting fees, legal costs, forms and returns.
Liquidity and return on investment may also be effected. The Harris Organisation Copyright 2000 Marc Harris. All rights reserved.