Daily Investment Tips

In a tough economy other people may be looking for “alternative” sources of money. This alternatives may be suing others.

The fact is that anyone can find themselves a target of an overblown lawsuit. If you have a house, cash or investments – heck, if you just have a job – you could be seen as a cash cow by someone else . . . someone who could “slip” on your sidewalk or “fall down” your steps.

There are affordable ways to protect yourself. Your home insurance provides liability protection up to certain amount (sometimes $300,000). But that’s not enough to protect your assets if someone gets greedy or can prove that they suffered a substantial injury that’s your fault. Personal umbrella coverage, which gives you liability insurance above and beyond your home and car insurance, is relatively inexpensive and is a vital part of fortifying your finances.

According to the Insurance Information Institute, you can buy a $1 million umbrella policy for about $150 to $300 a year. The next million will cost about $75, and about $50 for every million after that.

written by Buffet Stocks \\ tags: 1 Million, Assets, Car Insurance, Cash Cow, Economy, Heck, Home Insurance, Insurance, Insurance Information Institute, Insurance Institute, Insurance Protection, Investments, Liability Insurance, Liability Protection, Personal Umbrella, Sidewalk, Substantial Injury, Target, Umbrella Coverage, Umbrella Policy

A trust works by taking assets out of the ownership of the person establishing (’settling’) the trust and putting them into the hands of a trustee. An offshore trust is simply one based in an offshore jurisdiction and its profits are usually not taxable there. The trustee normally follows the wishes of the settlor. Trusts, which are based in 600-year old English common law, have been in common use for offshore asset protection for nearly 100 years.

written by Buffet Stocks \\ tags: 100 Years, Assets, English Common Law, Offshore Asset Protection, Offshore Jurisdiction, Offshore Trust, Profits, Trustee, Trusts

Banking money offshore was intially done by expatriates working and living abroad. Banking offshore gave them advantage of tax benefits, as interest earned on offshore account could be paid without tax being deducted.

Other general benefits not limited to expatriate account holders may include

1. Offshore bank account helps in reducing tax liability in your home country.
2. Asset protection
3. Estate planning,
4. Privacy and confidentiality
5. Better interest returns
6. The chance to exploit active business interests overseas in low to no taxation jurisdictions
7. Global access to assets and income.

written by Buffet Stocks \\ tags: Advantage, Asset Protection, Assets, Business Interests, Global Access, Jurisdictions, Money, Offshore Account, Offshore Bank Account, Offshore Banking, Privacy And Confidentiality, Tax Liability, Taxation