Swiss banking is a really fantastic way to protect your assets on many different levels. I am not referring to UBS and Credit Suisse, but protection in conjunction with your asset protection plan. We are moving assets when we are talking about Swiss banking to a Swiss bank inside of your asset protection trust. This is the ultimate layer of protection in your asset protection plan. Not every lawyer in Utah can tell you about these things, but at Ascent Law, we take your asset protection strategy seriously. Swiss private banking gives you possession physically outside of the country and legal title outside of your asset protection plan. You have control, but your assets are not there to be grabbed. It also does something else which I’ve become very aware of and concerned with in the last four years and that’s the actual safety of the banks and institutions we hold out money in. Institutional RiskI sent out a letter at the end of last year stating my concern around institutional risk. Institutional risk means that the bank that you hold your money in is not there one day or is in bankruptcy and you can’t get your money immediately or your money at all. Five years ago banking failures was something you would talk about in the context of the past. Since modern banking, modern financing, and modern governments we haven’t had any banking failures to speak or and certainly nobody lost any money. When 2008 came around people lost money. Lehman Brothers and Bear Stearns went under. Many people lost lots of money during this time and are only getting a fraction of their money back. Anything less than 100% is unacceptable. One of my main concerns about US banks is the tier 1 capital ratios. Switzerland solves this because their banking system is incredibly safe. Their tier 1 capital ratios are five times what we have in the United States. There’s personal liabilities of the partners and executives of the bank for customer’s money. Common Questions About Swiss Bank AccountsWhat’s the minimum to open up a Swiss bank account?
Do you pay taxes on a Swiss account?
How many different currencies can you hold in a Swiss bank account?
Although it’s very difficult for a US citizen to get a Swiss bank account, for our clients we still are able to. I recommend it because of the tremendous benefits that come with it. Free Initial Consultation with an Asset Protection LawyerWhen you are ready to start your asset protection strategy, call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Best West Valley City Utah Accident Lawyer via Michael Anderson http://www.ascentlawfirm.com/asset-protection-with-swiss-banking/
0 Comments
Leave a Reply. |
Probate LawyerProbate Lawyer in West Jordan Utah. If you need probate lawyer, trust attorney, inheritance counsel, living trust, last will and testament, call 801-676-5506 now for a free consultation. Archives
April 2023
Categories |