Most of us have been hoodwinked into thinking that offshore havens are illegal, too risky, or otherwise unworthy of consideration. Don't believe it. Financial expert Adam Starchild will dispel myths and misconceptions about offshore banking and reveal how you can:
Achieve total secrecy and and financial privacy Transfer your money offshore, and keep it safe from lawsuits, creditors, the IRS, etc. Use offshore havens to legally avoid, defer or minimize taxes Invest globally and build your wealth Pick the offshore haven that best meets your objectives Choose the right offshore bank and maintain an account -- easily and safely Do business offshore -- and reap extraordinary benefits And more!
marijuana plants growing in an isolated hollow in eastern Kentucky, unbeknownst to the property owners, Dale and Diedre Hall.
Authorities suspected the family, based on a tip from a drug informant. According to the Hall's family lawyer, police were unable to get enough evidence to make an arrest, let alone to secure an indictment or a conviction. Nevertheless, the Halls owe the state a little more than $1 million under a 1994 law that taxes marijuana dealers $1,000 a plant and penalizes those who do not pay the tax before they are caught. The law, upheld by the Kentucky Supreme Court, was modeled on statutes in other states that has passed muster with the US Supreme Court. The law has brought in close to $300,000 in revenue, at least some of which came from drug dealers who made confidential payments to the state.
The tax assessment does not require a conviction. The law is enacted when police report on the seizure or discovery of illegal drugs, which they are required to do within 72 hours. The Hall's lawyer said the tax blocks his client access to the judicial system, challenging the provision of the law that requires suspected dealers to post a bond equal to the amount owed before they can file a protest.
The area where the Hall's reside is located in coal country near the Kentucky-West Virginia border. The depressed coal industry has left many out-of-work coal miners to fend for themselves. Usually they do it through the cash crop of marijuana grown on parkland or, in the Hall's case, private property. According to an article by APB News, the 1994 law requires marijuana growers and dealers to buy tax stamps at the rate of $3.50 per gram or $1,000 per plant. While the process is confidential and payment of taxes cannot be used as evidence in a criminal case, the civil penalties are added to any criminal ones once someone is caught, along with an additional penalty for failure to pay, said state Rep. Charles Geveden. "It's not a ruse or an attempt to legalize marijuana," said Geveden, a Democrat from Wickliffe, in western Kentucky, who was one of the law's sponsors. "What it does is it creates a monetary penalty as well as the criminal penalty."
Too little too late for the Halls, who acquired the American dream of owning land through hard work and sacrifice. What saved them from total financial ruin was Dale's decision to follow Diedre's advice
about offshore asset protection. Now the Hall's life savings won't be burned up in tax levies from the discovery of some hemp plants.
This book will give you everything you need to completely safeguard your home, your family, your money, and your privacy. In other words, everything that's important to you.
You'll also find out how to create "invisible wealth" and how to use trusts for wealth protection... how to use family limited partnerships... how to structure a corporation for the greatest safety... how to go offshore with your wealth... and how to use foreign bank accounts.
Mr. Lefcourt is right in his supposition that the forfeiture laws were not originally intended to address crimes such as drunk driving. Originally they were to punish drug dealers by confiscating the goods they bought and used with the proceeds from the drug trade. However, it has not taken government agencies long to realize the full potential of forfeiture laws since any property used in committing a crime or that results from illegal activities can be seized. This provides government an easy way to take from the public whatever it wants and is a natural motivator for unscrupulous, unethical and illegal actions by the government. In this case, if the city of New York wishes to discourage drunk driving it can increase jail time for a conviction, but its much more lucrative to confiscate a nice car.
:Never. Not in America,: you?re probable saying. But if you think this couldn?t happen to you, you?d better think twice. The advent of America?s "war on drugs" in the 1980s greatly expanded the power of law enforcement to seize private property based on suspicion of illegal activity alone. While recent laws have attempted to curtail this type of government authority run amok, property forfeitures continue unabated for the most part because the financial incentive is so great: no U.S. tax has ever approached the revenue-raising potential of the asset forfeitures that have taken this country by storm---to the point that they have become a routine part of law-enforcement procedure.
In this book, author Adam Starchild, recounts the appalling true stories of countless innocent citizens whose lives have been turned upside down and torn apart by government confiscation of their homes, businesses, vehicles, and bank accounts---without due process. You?ll find out how others like you have unwittingly fallen victim to this outrageous abuse of government power, exactly what circumstances can place you and your property at risk, and what you can and must do to protect your assets before it happens to you.