IBC Formation: Are Your Assets Protected?
A ruling recently passed by the Supreme
Court has given local governments the power to seize
private property to generate tax revenue. This could
feasibly enable cities to order the removal of homes
to make way for shopping centers or other private
development.
The 5-4 decision means that home owners
will have more limited rights. Thomas Merrill, a Columbia
law professor and a specialist in property rights
stated, The message of the case to cities is yes,
you can use eminent domain, but you better be careful
and conduct hearings.
Does this concern you? Only eight states
Arkansas, Kentucky, Florida, Illinois, Maine, Montana,
Washington, and South Carolina forbid the use of eminent
domain for economic development unless it is to eliminate
blight.
In a scathing dissent, Justice Sandra
Day OConnor wrote, The specter of condemnation hangs
over all property. Nothing is to prevent the state
from replacing any Motel 6 with a Ritz-Carlton, and
home with a shopping mall, or any farm with a factory.
The bottom line protect what you
own. Within the last five years there has been
an alarming increase in citizen control laws to the
extent that your personal right to keep banking activities
private and confidential are now being seriously infringed
upon. Indeed, creditors and government agencies are
well armed with an arsenal of legal maneuvers to strip
you of your assets. Bank accounts in your name can
be frozen, "Notices of liens" can be placed on your
properties, your income can be garnered and even a
safety deposit box can be seized with a "writ".
However, with careful planning and specialized
information, your assets can be protected using an
IBC to shield your assets. IBCs can protect you from
product liability, malpractice suits if you are in
the medical field, creditors, and even divorce proceedings.
IBCs can also be used to hold real estate, valuable
collections, precious metals, and shares of any offshore
company of your choice.
More information regarding IBC formation
can be found on our website at http://www
.confidentialbanking.com/IBC_info.html
Peter Flowers is the owner of Liberty
En terprises Inc., a resource for offshore banking
services.
