Protection of existing (and future) assets

Well these days gender is fluid.
So is it fraud if i am male in one country, female in another, and Zit in a third?
All with corresponding different names.

 

But its worth it right? Anything so that the bogeyman that is the family court doesn't get at it!

Nevermind that family law is largely fair and takes into account pre-relationship assets already. Better to shoot myself in both feet so my ex won't get access to my toes.

 

Yes it sounds exactly like fraud.

Not sure how any of this fancy talk or structures would avoid the obligations of 'full and frank disclosure' in family law.

 

The old change your sex trick? Not sure how that helps anything.

 

I see a tax haven and think tax avoidance is a concern here.

MHs estate was stripped as his trustee of his trusts is a fella by the name Colin Diamond. He convinced MH that asset protection and alleged evasion meant he needed to be the trustee and not MH. But then MH died. As trustee he had unfettered discretion. He made himself beneficiary or sold and transferred assets. Three card marley. Other beneficiaries had no actions as they were never entitled. Tiger Lily got not one cent from these arrangements other than a limited amount of guardian ship costs which ceased on Geldof adopting her. Even royalties get stripped away to a trust controlled by Diamond who went to court to enforce this stream of income. Court agreed. Even in 2015 on the anniversary of his death Diamond was settling up further chains to strip new & past income sources acording the parties to legal claims as recent as 2017 - Claimed on 4 Corners and the doc Mystify which looked at these dealings. A new Trust called Helicopter Plain according to the Panama Papers now holds royalty streams. One of the saddest things was he left ONE possession of MH after death to the family. A leather belt he purposely left at Rose Bay Police Station.

I had some involvement reviewing some aspects of the trusts for a lawyer. Some time ago now.

Tiger Lily was lucky and was adopted by Bob and Paula & raised like Bob's own. A cruel twist that was reason to end guardian costs for her.

 

I have found that most people only think of asset protection on bankruptcy, or family law secondly. Very few consider death

 

The main question that needs to be answered is 'protection from what'? And what risks does the protection create?

 

This story just had me confused. A guiness book of records attempt ? Two firsts ? I was thinking a medical miracle. Not.

Transgender Queensland man births COVID baby, breaking medical history twice

 

Well I am legally Piston Broke male in Australia
I can legally identify as Pistonelle Rich female in US
And Piston Eutral non-binary in Oregon US

As those are my legal "identities" and names, I could establish corporations, trusts, bank accounts etc.

You may think this is far fetched, but parliament makes the laws. Judges and lawyers must follow.
Many politicians would do this tomorrow if they could.
And we already have the news media telling us men can be pregnant (is that better than being "fat"? ).

I can also be Piston Scribed Pen name earning royalties to a paypal acct.
Then there's Crypto.

So asset protection could get a lot easier soon.
And it makes a more reasonable case as to be too complex to "recall".

Why would I be concerned about anything after I'm dead?
I have never heard from anyone that was.

 

Can't say I like this, Paul, but wow, if that's not a prime example of a tax minimisation scheme that got spun out of control, I dont know what is.

If this is true, maybe MH will reach out one day, and Col will experience track 9 of "The Swing", just to right things a bit...

 

So its not the sex but the names that counts? So how does having multiple names help asset protection?

Why do people do wills if they are not concerned about asset protection after death?

 

3 legal identities and names all with corps and trusts bank accts?
How would you know where to find them?

And don't forget the precedent set by a non Australian be considered as an Aboriginal citizen because he "identified" as such.

Why do all 3 have to identifies as citizens of the same country?

Because there's good easy money in it for lawyers.
Remember the commercials on TV and radio?
There's still plenty on radio scaring old folks in to getting wills.

If anyone doesn't want to inherit properties with debt, I'm happy to take them.

 

your just being silly!

 

LoL a little maybe. But...

And yet the mainstream media is reporting that a "Man gave birth".
A court ruled he was Australian citizen because he identified as such.
Oregon US ruled that non binary is a third gender.
A genetic (no operation) male is a "Women's" weigth lifting and another wrestling champion.
And kids in school are being taught that gender is fluid and you are the gender you identify as.

All that is real.
I think it's crazy (and on some medical levels it is too), not just silly.
But if I had many assets to hide, that kind of world would definitely make it easier.

 

I cant fathom how Oregan has zip to do with australian law but...it indicates how different jurisdictions can pose a problem perhaps.

 

What's stopping someone going over there, change who they identify as legally, buying assets and setting up bank accounts?

Are you going to find them if you don't even know what name to look for?

 

Anti-money laundering laws for starters. You can't just rock up in the USA and say you are changing your name and give me a new passport.

Even if you could establish a second identity that doesn't protect assets as it is the person that goes bankrupt and not the name.

 

USA may not care. Or turn you around on charecter grounds? US laws dont care about non citizens. They will expel you