I see that more as estate planning, but you're right. I would define asset protection as taking it one step more. Offshore banks, holding companies, etc.
Becoming incorporated or an LLC will protect a$$ets from liability…. I am wondering if corporations that set up shop in the Caymans are protecting their a$$ets or is it just a place for them to park their big a$$ yacht.
If you have been to the Bahamas or Caymans you know what I mean…