on 24 January 2014
Oddly enough after reading and reviewing at length this excellent book, Amazon finds it unpublishable. So I will give it another review, the kind that says little but hopefully will gain readers of this very worthwhile book by Lee Haddum.
Lee Hadnum comes to this assignment of providing information on guarding our assets with fine credentials. He is a Law graduate, Chartered Accountant and Chartered Tax Adviser and has a strong depth of experience in tax and asset protection strategies. He has published many books here on Amazon and I have read several - they are all all excellent. Some of them include `The Worlds Best Tax Havens', `Tax Planning For Company Owners', `Tax Planning With Offshore Trusts - The A:Z Guide', `Tax Planning Techniques Of The Rich & Famous', and `Tax Saving Tactics for Non-Doms'.
Haddum's book is easy to read book, taking the reader through the realities of the world economy today - the proliferation of the litigation culture as pertains to inheritance, divorce, company crashes and most importantly for the reader, the pitfalls of asset protection many of us have not even considered. And why is this high risk of litigation to protect assets occurring? As Hadnum points out it is most likely due to the frivolous claims made against wealthy professionals. As the author points out, `a separate asset protection industry has grown based on this perceived threat to wealth, and which seeks ways that you can protect your assets. The kinds of individual who is likely to be attracted to asset protection measures can basically include anyone with a reasonably substantial net worth, although it will be of particular interest to those working in professions where there is a high risk of litigation such as: doctors, lawyers, accountants, builders, consultants and financial advisors. Essentially if you look as though you have deep pockets there is a risk.'
It's not just professionals though who are interested in protecting what's theirs. In this book Hadum also looks at the separation of assets on divorce, using UK and offshore companies and trusts, care home fees planning, using offshore bank accounts, making sure that the terms of your will are adhered to. He divides the topics into Asset Protection in General/Techniques, Asset Protection in a Recession, Different Types of Entities, Using a Trust to Protect Assets, Using a Company to Protect Assets, Protecting Assets on Divorce, Safeguarding your Will, Care Home Fees Planning, Keeping a Low Profile and Using Offshore Bank Accounts.
Haddum's delivery of this information takes away the threat and instills a vigor in trusting him and subsequently ourselves. This is a most useful book that everyone, no matter his or her monetary worth, should have in the home library. Highly recommended. Grady Harp, January 14
on 2 February 2014
Here’s another book where you may be wondering why an American living in the US would want to know about UK Asset Protection. And the answer again, is research. Comprised of 10 chapters ranging from asset protection techniques to different entities to create to protect your assets to general safe guarding. From a purely comparison standpoint, I found the differences between the US and UK to be interesting. For one thing, the UK offers more entities to choose from. For another, simply because you have a legal paper that says you are entitled to XXX, doesn’t mean that the courts will agree and can change it. The general binding US rules are much more at the whim of the court. And well, if you are of a nefarious nature, this book does point out areas where you will need to protect yourself to avoid suspicion. Admittedly, the “Keeping a Low Profile” chapter is of benefit to most, particularly if you don’t normally have a lot of money. The overall tone of the book is introductory in nature with real world examples of famous cases. It’s a good read if you are new to all of those and those who are old pros, frankly wouldn’t hurt to have a bit of a refresher.
on 3 February 2014
The reality of the world, unfortunately is that the more you have the more there are people who would do anything to get it from you. Frivolous lawsuits abound and the law is often a bit hazy on what a person can reasonably ask for. Inheritance, divorce, business failings and many other things can have a profound effect on your assets. If you are in a position that puts you at high risk for litigation this is a book that you need in your personal library.