What are the differences between U.S. and international asset protection strategies?

Asset protection strategies in the United States and internationally can vary greatly due to the differences in laws between countries. In the United States, asset protection strategies tend to focus on protecting assets from creditors, while international asset protection strategies tend to focus on protecting assets from taxation. In the U.S., asset protection is typically accomplished through establishing trusts, using limited liability companies, or other legal entities. These strategies are designed to protect assets from creditors that may attempt to seize assets to satisfy a judgment. Additionally, estate planning tools like wills and trusts can be used to make assets more difficult for creditors to access. International asset protection, on the other hand, typically focuses on strategies like offshore trusts and international corporations to protect assets from high taxation. In addition to protecting assets from taxation, these strategies are also used to protect assets from being seized by creditors, as the assets are held outside of U.S. jurisdictions. In Kentucky, asset protection strategies are largely similar to those used in the United States. Kentucky does not require estate planning, but individuals can establish trusts to protect assets from creditors. Additionally, limited liability companies are an option for protecting assets from creditors, and Kentucky does not impose additional taxes on foreign-owned assets.

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What are the differences between U.S. and international asset protection strategies?

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