There are many factors to consider in deciding whether a particular jurisdiction is or is not favorable from an asset protection standpoint. Certain states and foreign countries are clearly better than others. There is a constant tension between the legal rights of creditors and debtors; and each jurisdiction is to some extent more or less favorable to one or the other.
For non-U.S. jurisdictions, the
You always need to consider your own state’s law no matter what other jurisdictions you utilize for asset protection planning purposes. But asset protection planning clearly requires a multi-jurisdictional analysis. There may be significant advantages to setting up a trust, LLC or other entity in a state other than your own.
The key point is that each state and foreign jurisdiction has many laws that affect asset protection planning. One size does not fit all; and each situation should be looked at individually.