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By Jeffrey Lipton, LL.b., CFA, MBA
Traditionally, trusts and foundations were often used as tools to obscure the ownership of assets as tax shelters thereto.
Since the implementation of the Patriot Act and other applicable legislation, such as the OECD mandate, which hold the intermediary responsible or culpable, the concept that it will be forensically difficult to see through nominees is extremely outdated and unrealistic.
By Jeffrey Lipton, LL.b., CFA, MBA
There are many definitions afforded the term "asset protection". As it will be used herein the term is analogous to protecting assets from economic and financial predators.