Article Written for: Forbes.com
Despite some misconceptions, using bitcoin or other cryptocurrencies for asset protection in connection with offshore planning may be an effective strategy. A crucial facet to using foreign trusts to protect wealth is ensuring that the trustee and trust assets remain outside of any jurisdiction where the grantor might be sued. Some U.S. states may find the concept of self-settled trusts anathema to public policy and thus choose to ignore the trust and treat the grantor/beneficiary as the de facto owner of trust assets.