Accumulating wealth requires dedication, knowledge, persistence and sometimes even luck. But despite all the difficulty that this task presents, it still doesn't compare to how difficult it is to maintain what you've achieved. This is mainly because their patrimony is under constant threat of interference and abuse by the State.
The good news is that there are safe ways to ensure that what you've worked for doesn't get taken away from you. For this, you need to follow a plan, which basically consists of not putting all your eggs in one basket.
Asset Protection is a strategy that can cover measures in the field of civil life and also in fiscal and administrative aspects to keep your assets safe. It even seeks to take advantage of all possibilities to avoid the collection of taxes and that its assets are subject to taxation or confiscation by any government.
This might seem like a very complicated thing to do, recommended only for immense fortunes of multi-millionaires — but it's not. If you've already accumulated a little more than the basics for a dignified life, it's time to start preparing. The sooner you start, the less of your assets will be taken from you.
For some time now, there have been numerous legal strategies for asset protection, and they are a product sold by accounting and law firms. But most of these professionals despise the fundamental role of cryptocurrencies — and you know that there is nothing like them to guarantee control over your wealth.
Therefore, it is essential to include them in any planning that aims to keep your heritage safe. Through them, you can have access to resources that do not exist outside the blockchain universe.
Next, we will talk about some important characteristics of cryptocurrencies that can contribute to preventing your wealth from being squandered by tax collections.
The first big advantage you will get when using cryptocurrencies is privacy. On the network, all data is decentralized. This means that no one can prove who owns this or that wallet. Anyone can, at any time, without the need for permission or registration in any centralized institution, obtain an address to send and keep their tokens.
This is a very important tactical advantage, as it makes it possible to move your assets without being able to link them directly to you, at least until you decide to turn them into fiat currency. But you don't necessarily need to do that to use your cryptocurrencies and make purchases.
One way to avoid the need to transform cryptocurrencies into Fiat to purchase products is through the purchase of prepaid cards, or gift cards. There are numerous ways to buy (without the need to identify yourself) cards like this that entitle you to a certain value in large stores.
An example is Amazon, with several gift card options that you can choose from to buy all kinds of products, from the simplest and cheapest to very expensive and sophisticated ones. Thus, you have the possibility to purchase what you want without having to identify yourself as a buyer, preventing institutions from monitoring your expenses.
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Credit cards are, today, one of the great villains when it comes to monitoring your purchases and spending by government institutions. But they can also be your allies if you know how to use them.
There are organizations that allow you to have prepaid debit cards in cryptocurrencies with little or no level of identification (KYC, or “know your costumer”).
This is the main point of attention when using such a service. Rest assured that you will not need to identify yourself or that the data provided is not sufficient to link the expenses to you from a tax point of view. And don't take any chances with unknown companies, because you'll need to send the tokens first, so you can use the card balance later.
Another way to make transactions without it being possible to link your name to a certain expense is through the use of third parties in P2P transactions. You can count on the security of brokers or specialized platforms to carry out transactions in which someone makes a deposit or pays a bill in Fiat for you and receives it in cryptocurrency.
That way, you can get a payment made without tying it to you. It is very important to be careful when doing this, check all the data and be careful not to fall for scams. But if you pay attention, you can carry out this type of transaction without major complications and avoid taxes on your purchases.
And we could not fail to mention the Theory of Flags. After all, it offers some of the best tools to prevent your assets from being abused by government institutions. It is much more comprehensive than just heritage protection, but you will certainly need to use some of the flags to keep your heritage out of the grasp of the States.
As you already know, there is no one-size-fits-all formula. The best strategy needs to be created based on the analysis of the circumstances of your financial life, your goals and your needs. But it's really worth considering taking at least some of the measures she recommends, regardless of what your current reality is.
Don't waste any more time
You have to consider that some of the measures you need to take to protect your wealth need some planning and time to execute — much more than big investments on your part. So do not lose more time. Start as soon as possible to prepare yourself, step by step and flag by flag, to be ready when the time comes.
Start your studies to discover the possibilities that exist and choose the best path for your life, both to ensure that your heritage continues to grow and be protected, and to have access to more and better opportunities for personal and professional development.
