Liability and Ownership

by Mogens Eliasen



Mogens Eliasen - the author of this article
on Liability and Ownership

Most people think they are in control when they own something. Nothing could be farther from the truth. The fact is that, if you own an asset, it is extremely easy to take that asset away from you!

It takes only one lawsuit to strip you of everything you own - or one dispute with your government over taxes...

Lawsuit - frivolous or not

Liability is very different from responsibility. Responsibility means "response able" - it enables you to choose your response. You may not always like your options, but the point is that you have a choice.

With liability, that's not the case. The meaning of the word refers to "tied to" - meaning: you cannot escape it! And that's how it is used in legal disputes...

Whatever you do, you are liable for the consequences of your actions. There is no escape.

If you did something that annoys another person, this other person can make a claim against you and demand compensation. Sometimes such claims are outright ridiculous - but you will be surprised to learn about real cases in the courts that have been sustained with a positive judgment, no matter their obviously frivolous nature!

But what if the claim had some merit, although it was vastly exaggerated...?

Well, point one: you need to defend yourself. That costs money.

Point 2: you have to win! And who says you will do? What if you don't?

Answer: you lose not only the case, but whatever assets you have that need to be sold in order to pay the claim and the court costs.

And how much would that be? Chances are that it will be just about everything you own... The reason is that anyone who wants to sue you will only do so within the limits of what he/she can gain by winning. There is no point in suing a bankrupt for $20,000. But if you own asset for $100,000, there is no point either in suing you for $20,000 - it makes much more sense to make the claim $100,000!


Tax disputes

Most governments operate their income taxation by having their citizens sign a "tax return". That document is nothing but a trap. It is a contract that makes you waive your constitutional rights to a decent defense in case of disputes between your government and you about the truthfulness of the information you provided. In all civilized societies, a person should be considered innocent until proven guilty.

Almost all western governments violate this fundamental legal rights principle by forcing you to sign your tax return - which, in just about all countries, contains clauses that make you accept that the government, in case of dispute over your information, can make its own assumptions about your income, tax you on those assumptions, and prosecute you without judgment if you refuse to pay!

I call it "reverse justice".

Now, you can, of course, sue the government on a claim you can prove. But that will not stop the prosecution against you. You will still get your bank accounts garnished, have your car confiscated, and your home put on foreclosure, before you ever get a chance to have a judge listen to your claim!

This is, to me, a very good reason for getting one's assets out of reach of the government... (I have personal friends who have been pulled through this kind of nightmare.)


Separating ownership from liability

Ever heard somebody commenting about a crook they want to sue like "It's all in the wife's name"....?

Reality is that you can enter into a marriage under terms that does not mix the spouses' liabilities. You sign a prenuptial agreement prior to the marriage. This way, creditors of one spouse cannot lay any claim on the assets of the other spouse.

There are people who abuse this. Crooks, who make all kinds of dubious deals - and then leave the scene without honoring their obligations. When you sue them, you find out that they own nothing - all the fancy assets you have seen belong to the spouse - and they have a prenuptial agreement...

Although this might appear as a great advantage to this crook, there are some significant downsides to this:
   1. What if the spouse, one day, had enough and wants a divorce?
   2. What happens when the spouse dies...?

Well, in either case, the "dependent spouse" will lose everything.

But what if you could set up a similar arrangement - without having those two unpleasant risks hanging in there?

I mean, what if you could find someone who would love you dearly, always support you, never argue with you, do whatever you asked, let you use all his/her assets without ever asking anything in return? And, on top, you would require that this person would never change his/her opinion about you - and this person would, guaranteed, survive you!

Would you then have all the advantage of the crook in the example about the prenuptial agreement? I am not suggesting that you have to behave like a crook - but reality is that you would enjoy the same kind of asset protection - with no way for your creditors to touch your assets, no matter what kind of conflict they might think you have with them...

You can create such a person. It is like establishing a business. It takes a little paperwork, but it is possible for anyone to do it. This artificial person is called an Asset Protection Trust.

To get the most out of doing it, you need to establish such a Trust in a foreign country that does not even know who you are! When this is the case, nobody can win a lawsuit against your Trust for something they want to hold you liable for. Not even your own government, because the Trust is established in a different country that does not obey orders or accept judgments made in other countries....

By transfer ownership of your assets to such a Trust, you cannot lose them. Provided of cause, that you do it right...


Conclusion

You cannot escape liability for your actions. Liability can quickly turn into a claim against your assets. Everything you own is at stake for being lost, either in a lawsuit or simply in a dispute with your government over taxes.

By having your assets owned by a foreign Asset Protection Trust, you become financially invulnerable.

For a more thorough discussion of this topic, including a full layout of the concept, please check my e-book "Making Yourself Financially Invulnerable"

.

Sincerely,

Mogens Eliasen


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Mogens Eliasen holds a mag. scient. degree (comparable to a US Ph. D.) in Chemistry from Århus University, Denmark, has an extensive military education in tactics and Intelligence services, and has 30+ years of experience working as business entrepreneur and education planner, and as consultant for small business owners and private investors in Europe and North America. He is a strong advocate of personal freedom, and has published several books and home-study courses on topics related to using International law in order to obtain financial liberty. He publishes a newsletter "The Doggy Bone" containing lots of tips and advice on matters pertaining to personal rights, "going offshore", asset protection, and legal ways of avoiding tax liability.

For more information about Mogens Eliasen, including links to other articles he has published, please .



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Other articles of Mogens Eliasen are available from http://freedomfromtaxes.com/articles.



 

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Available publications by Mogens Eliasen:

"Making Yourself Financially Invulnerable" - the principles for protecting your assets, in privacy and financial freedom; why "going offshore" works! But it takes way more than "just opening an account"...

"Trusting the Trustee...?" - how you avoid being conned into a scam, and still control assets without ownership and with no liability. This is a must-read for anyone contemplating "going offshore"...

"Eliminating Your Business Income tax" - a simple concept that is used by all multinational companies; now also available for even home-based businesses! The concepts are applicable for any existing business.

"Setting Up Your Business For Financial Freedom" - your "driver's license" for operating offshore financial vehicles! The homework assignments of this course are literally your to-do lists for your due diligence, through establishing your offshore entities as well as getting them structured and organized for your benefit. Nobody should "go offshore" without this knowledge...


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