Transcript

Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris

From Coffeez for Closers with Joe Shalaby · Episode page · Watch on YouTube

· 45 min · 8,082 words · 89 timestamped sections

This is the full, timestamped transcript of "Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris", an episode of Coffeez for Closers with Joe Shalaby published February 21, 2026 (45 min, about 8,082 words). It mentions 33 people, works and ideas, including asset protection, Offshore Trust, Vice President Harris, Cook Islands, Asset Protection Trust.

What this episode is about

This discussion explores how ultra-wealthy individuals shield millions from lawsuits through sophisticated asset protection strategies, legal structures, and professional guidance from top practitioners. It covers key concepts, common techniques, and the importance of legal compliance in preserving wealth.

Key takeaways

  • Asset protection isn’t only for the mega-rich; most lawsuits target everyday entrepreneurs with $1–$10M in assets.
  • Domestic versus offshore: leverage foreign trusts as negotiation leverage, or risk the plaintiff’s long, costly path.
  • Morning ritual as risk management: grounding and Muay Thai reset anger, sharpening both mind and dealmaking.
  • Peace of mind is a tool; the legal leverage comes from signaling resilience, not just shielding assets.
  • Count on lawsuits being a certainty; plan early, or watch contingency fees turn into contingency regret.

Who speaks in this episode?

What is discussed, and when

  1. – 5:00: PBS Space Time Host, Coffees for Closers
  2. – 10:00: asset protection, Attorney General, Muay Thai, Offshore Trust
  3. – 15:00: asset protection, Attorney General, Asset Protection Trust, Offshore Trust
  4. – 20:00: asset protection, Cook Islands, Switzerland, IRS
  5. – 25:00: Cook Islands, asset protection, Offshore Trust, Vice President Harris
  6. – 30:00: asset protection, crypto asset protection, Offshore Trust, Switzerland
  7. – 35:00: asset protection, Offshore Trust, Cook Islands, Asset Protection Trust
  8. – 40:00: Switzerland, asset protection, Offshore Trust, Trust Company
  9. – 44:53: Vice President Harris, Blake Harris Law, asset protection, Cook Islands

Notable quotes from "Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris"

  • Offices all over the world and he works with some of the biggest names in the industry. I'm very happy and we today we welcome the one, the only Blake Harris.
    about Vice President Harris · at
  • Time to actually use your trust, to use your asset protection plan. The difference between a domestic trust and an offshore trust is very simple. One of those trusts, Joseph…
    about Offshore Trust · at
  • If you want a trust that's going to keep your money protected while you are alive, you need to set up what's called an asset protection trust. And that can be done in the…
    about Asset Protection Trust · at
  • Judgment could be enforced here. You don't have to worry about that when you go overseas because by law, the Cook Islands will disregard a court order from anywhere in the world other than the Cook Islands.
    about Cook Islands · at
  • Thing that all of us want and desire in our life. Freedom does not exist without protection. If somebody can take away everything you have, you're not really free. until you've…
    about asset protection · at
  • It sits here in the US. So, if you want real protection, you do two things. You get the control offshore and you get the asset offshore. And at that time, you're golden.
    about Asset Protection Strategies · at
  • Process. And I'm doing the same thing where after I go to Hong Kong a few days later, I'm going to Zurich and meeting with some of the banks we work there and going to be…
    about Switzerland · at
  • Business too, but I'd like to stay on course and continue to maintain the brand. When people think of Blake Harris Law, I want the first thing that comes to their mind beyond…
    about Blake Harris Law · at

Who and what is mentioned in this episode?

People

  • Vice President Harris — Person · Main guest · 7 mentions · first at
    He is the featured asset protection attorney explaining domestic vs offshore trusts, Cook Islands structures, and crypto asset protection, while sharing client outcomes and his firm's process.
  • PBS Space Time Host — Person · Host · 2 mentions · first at
    He interviews Blake Harris, asks practical questions about timing, costs, ethics, IRS reporting, and business use-cases, and frames the episode around entrepreneurs and lawsuits.
    What's up everybody? Welcome to another episode of Coffees for Closers. Today we are sitting down with the worldrenowned asset protection attorney. He's got offices all over the world and he works.

Books & papers

  • asset protection: Don't Let a Lawsuit Take Everything — Book · Referenced work by guest · 1 mention · first at
    Blake Harris's book is used to summarize common misconceptions (who needs protection, and the danger of waiting until sued).
    Okay. now you wrote a book. It's called Asset Protection. Don't let a lawsuit take everything. Now that offers tons of strategies guarding it, guarding your wealth. What's a common misconception that re that.

Companies & orgs

  • Blake Harris Law — Company · Guest's firm / service provider · 3 mentions · first at
    The operating vehicle for the strategies discussed: offshore trust setup, banking introductions, crypto custody options, and a global partner network.
  • Coffees for Closers — Organization · Podcast/show · 2 mentions · first at
    The platform hosting the conversation; frames the episode as an interview for entrepreneurs and business operators.
    What's up everybody? Welcome to another episode of Coffees for Closers. Today we are sitting down with the worldrenowned asset protection attorney. He's got offices all over the world and he works.
  • Trust Company — Organization · Industry partner referenced · 3 mentions · first at
    Trust companies are described as registering Cook Islands trusts and partnering with Blake Harris Law; one trust company reportedly recorded a registration volume record.
    Traveling and because of the traveling, I grew a large client base. Last year, I was told we set the record by one particular trust company for the most number of Cook Islands…
  • IRS — Organization · Regulatory authority referenced · 3 mentions · first at
    Used to address the misconception that offshore trusts are for hiding money; Blake emphasizes reporting and compliance and claims reporting does not increase audit risk.
    Correct. And the IRS likes to see that you're reporting and likes to see that you're complying and the IRS has plenty of people to go after who aren't even filing their taxes or aren't even paying.
  • Trustees — Organization · Fiduciary role referenced (as a group) · 1 mention · first at
    Trustees (especially foreign trustees) are central to the offshore trust thesis: U.S. courts can compel domestic trustees but not foreign trustees in protective jurisdictions.
    Plaintiff attorney that my assets are at a bank down the street or somewhere here in the United States controlled by a trustee here in the United States, plaintiff attorneys…

Products & tech

  • Cryptocurrency — Product · Asset class discussed · 2 mentions · first at
    Discussed as an investable asset inside offshore trusts and as a custody challenge requiring specialized partners and structures.
    Routinely open a bank account. Under the structure, they can invest in stocks, bonds gold silver cryptocurrency anything they can invest in themselves, they can invest in…
  • T-bills — Product · Investment option referenced · 1 mention · first at
    Cited as an example of investments available within offshore trust accounts, countering the idea that offshore means limited investment choices.
    Whether it's the Swiss Frank or the US dollar or the euro. And then beyond that, you can buy CDs or bonds or T- bills or invest in crypto stocks, bonds.
  • Gold — Product · Investment option referenced · 1 mention · first at
    Listed as an asset type that can be held/invested through the offshore trust structure.
    The safest place that Americans can routinely open a bank account. Under the structure, they can invest in stocks, bonds gold silver cryptocurrency anything they can invest in…
  • Silver — Product · Investment option referenced · 1 mention · first at
    Listed as an asset type that can be held/invested through the offshore trust structure.
    The safest place that Americans can routinely open a bank account. Under the structure, they can invest in stocks, bonds gold silver cryptocurrency anything they can invest in…

Concepts & topics

  • asset protection — Concept · Core topic · 26 mentions · first at
    The episode centers on protecting entrepreneurs and professionals from lawsuits using trusts, offshore structures, and business de-risking tactics.
  • Offshore Trust — Concept · Core topic · 11 mentions · first at
    Blake Harris argues offshore trusts provide stronger lawsuit protection because U.S. courts cannot compel foreign trustees/jurisdictions to turn over assets.
  • Asset Protection Trust — Concept · Core topic · 6 mentions · first at
    Contrasted with revocable living trusts; described as the trust type that can protect assets during life, domestically or offshore.
  • Asset Protection Strategies — Concept · Core topic (tactical layer) · 3 mentions · first at
    Covers the practical tactics discussed: offshore control + offshore assets, thin capitalization, LLC layering, and negotiation leverage against plaintiffs.
  • crypto asset protection — Concept · Emerging subtopic · 3 mentions · first at
    Blake Harris describes custody and control options for cryptocurrency inside offshore trust structures, including key retention vs third-party custody under litigation risk.
    I'd venture to say we've probably done more crypto asset protection than everyone else in the industry combined.
  • revocable living trust — Concept · Contrasted concept · 2 mentions · first at
    Presented as useful for probate avoidance but ineffective for lawsuit protection during life; used to correct a common consumer misunderstanding.
    Your children after you pass away. But the problem with a revocable living trust is it does not provide you any asset protection while you're alive. So, if you want a trust…
  • Judgment — Concept · Legal risk concept · 2 mentions · first at
    Used to explain how domestic judgments can be enforced across states and why offshore jurisdictions can refuse recognition, changing settlement dynamics.
    Absolutely not. Under article 4, section one of the US Constitution, every state has to give full faith and credit to the judgments of every other state. So, you've set up a…
  • Attorney General — Concept · Structuring tool · 14 mentions · first at
    Discussed as a standard U.S. liability tool and as a layer for holding real estate, with the LLC then owned by the offshore trust.
    Episode of Coffees for Closers. Today we are sitting down with the worldrenowned asset protection attorney. He's got offices all over the world and he works with some of the…
  • Article 4, Section 1 — Concept · Legal doctrine referenced · 1 mention · first at
    Cited to explain full faith and credit across U.S. states, motivating offshore planning to avoid interstate judgment enforcement.
    Absolutely not. Under article 4, section one of the US Constitution, every state has to give full faith and credit to the judgments of every other state. So, you've set up a great asset protection.
  • Freedom — Concept · Value framing concept · 1 mention · first at
    Blake Harris frames asset protection as foundational to personal freedom, arguing wealth vulnerability undermines autonomy.
    Thing that all of us want and desire in our life. Freedom does not exist without protection. If somebody can take away everything you have, you're not really free. until you've…
  • Contingency Fee — Concept · Litigation incentive concept · 1 mention · first at
    Used to explain why the U.S. is lawsuit-prone: plaintiffs can hire attorneys without paying upfront, increasing litigation risk for successful people.
    Sued sometime. It's a very easy place to bring a lawsuit. You often don't have to pay any money upfront. You can hire an attorney on a contingency fee. There are attorneys out…
  • Muay Thai — Concept · Personal routine element · 3 mentions · first at
    Used to illustrate Blake Harris's discipline and stress management; later tied to his personal goal of improving skills.
    Walk about 45 minutes on the beach, show up at Fifth Street Gym in Miami Beach, and do about an hour of Muay Thai, punch, kick, elbow, knee. After I do that, any anger, any…

Places & events

  • Cook Islands — Place · Key jurisdiction referenced · 11 mentions · first at
    Presented as the premier jurisdiction for asset protection trusts because it disregards foreign judgments and forces plaintiffs to litigate locally.
  • Switzerland — Place · Banking location referenced · 8 mentions · first at
    Discussed as a common place to hold offshore trust bank accounts and custody assets, framed as a safe banking jurisdiction with reporting compliance to the IRS.
  • NeAs — Place · Offshore jurisdiction referenced · 1 mention · first at
    Named as an offshore jurisdiction option alongside Cook Islands and BLE; also mentioned as a travel destination with his children and as a former trust officer employer source.
    Excellence that we have. And I could spend a whole another 45 minutes talking about how we employ a former trust officer from a Cook Islands and NeAs trust company. How we…
  • BLE — Place · Offshore jurisdiction referenced · 2 mentions · first at
    Listed as an offshore jurisdiction option alongside Cook Islands and NEAS for foreign trustees controlling assets.
    Have set up trust in other jurisdictions like NEAS and we do business in Bise as well and other offshore jurisdictions beyond those three jurisdictions. But once a trust is…
  • Hong Kong — Place · Professional travel location · 2 mentions · first at
    Blake Harris cites travel to Hong Kong to meet colleagues and speak at a conference, illustrating his global network-building approach.
    Get out in the field. I meet people in person. I'm flying tomorrow morning to Hong Kong to meet with some colleagues there and speak at a conference there.
  • Miami Beach — Place · Guest's home base · 1 mention · first at
    Provides personal context for Blake Harris's routine and where he lives and trains; also anchors Fifth Street Gym references.
    Called nowadays. So, I roll out of bed, I get down to the beach, and then I'll walk about 45 minutes on the beach, show up at Fifth Street Gym in Miami Beach, and do about an…
  • Fifth Street Gym — Place · Personal routine location · 1 mention · first at
    Mentioned as the place Blake Harris trains Muay Thai, reinforcing his daily discipline and lifestyle in Miami Beach.
    Called nowadays. So, I roll out of bed, I get down to the beach, and then I'll walk about 45 minutes on the beach, show up at Fifth Street Gym in Miami Beach, and do about an…
  • Los Angeles — Place · Travel location referenced · 1 mention · first at
    Used as a travel point (Miami to LA) while discussing branding and business growth through travel and social media.
    Catapulted your business? it's very interesting and I was thinking about this as I was flying out from Miami to LA last night. Years ago, when I got into the industry, I…
  • Bise — Place · Offshore jurisdiction referenced · 1 mention · first at
    Mentioned as another offshore jurisdiction where Blake Harris Law does business, indicating multi-jurisdiction capability beyond Cook Islands/NEAS/BLE.
    Registered in the Cook Islands. So we have set up trust in other jurisdictions like NEAS and we do business in Bise as well and other offshore jurisdictions beyond those three…

Full transcript with timestamps

Heat. Heat. Heat. Heat. N. Heat. Heat. Heat. Heat. Heat. Hey, heat. Hey, heat. Heat. Heat. Heat. Heat. Heat. Heat. Woo! Heat. Hey, Heat. Heat. Hey, heat. Hey, heat. Hey, hey hey. What's up everybody? Welcome to another episode of Coffees for Closers. Today we are sitting down with the worldrenowned asset protection attorney. He's got offices all over the world and he works with some of the biggest names in the industry. I'm very happy and we today we welcome the one, the only Blake Harris.

Joseph, thanks for having me on the show. I'm so pumped that you're here for many, many reasons. Um, now Blake, I like to start off the show with every one of our guests with the same questions. What's your morning routine?

What's my morning routine? So, I live in Miami Beach, Florida. I like to roll out of bed and touch sand. I like I'm a fan of earthing or grounding, whatever it's called nowadays. So, I roll out of bed, I get down to the beach, and then I'll walk about 45 minutes on the beach, show up at Fifth Street Gym in Miami Beach, and do about an hour of Muay Thai, punch, kick, elbow, knee. After I do that, any anger, any frustration, it's gone. I've left it on the bag. I walk home and then I get to my day. Nothing that happens is going to upset me once I've done that. No client, no opposing counsel, no issue with family or an employee ever shocks me or ever upsets me because I let all out in the morning that I'm calm and ready to go for the day.

Wow. So, wait, you walk barefoot from your house to the gym? 45 minutes on the beach, step into the gym, do Muay Thai barefoot, and 45 minutes back. Yep. I'm put on some shoes for you today, Joseph. But generally, I try to avoid footwear.

That's awesome. What a life. That sounds like a dream come true, by the way. Uh, it I like it. It's It's not for everyone, but for but for me, I I do enjoy it.

That's great. All right, cool. So, let's just dive right into it. So, asset protection attorney. Now, let's dive into who is it that really needs an asset protection attorney.

Well, those of us doing business in America who've reached a certain level of success become very juicy targets for a lawsuit. In America, if you were successful enough, you can expect to be sued sometime. It's a very easy place to bring a lawsuit. You often don't have to pay any money upfront. You can hire an attorney on a contingency fee. There are attorneys out there who are advertising, stirring up litigation which would not otherwise be brought. The biggest misconception in the asset protection world is that asset protection is only for the super wealthy. And that's very far from true. The majority of people being sued have under $2 million in assets. The majority of our clients have somewhere between about 1 and $10 million in assets. Now, we do have quite a few clients whose net worth is a little bit under a million. And we do have clients whose net worth is significantly more than 10 million. But

the majority of people setting up an asset protection trust with my law firm have somewhere between about$1 and $10 million in assets. Now, if I like most of our clients here, most of the people are listening to the show are entrepreneurs. The benefit to setting up um to doing asset protection here in the US versus overseas, what do you think those differences are? Well, the benefit of doing it in the United States is that it's going to be a little bit less. It's going to cost you a little bit less upfront. The downside of doing it in the United States is it's going to cost you a lot more in the long run when it comes time to actually use your trust, to use your asset protection plan. The difference between a domestic trust and an offshore trust is very simple. One of those trusts, Joseph, can be broken by a US court. The other trust cannot. And plaintiff attorneys know this. And when you're negotiating and you tell a

plaintiff attorney that my assets are at a bank down the street or somewhere here in the United States controlled by a trustee here in the United States, plaintiff attorneys are not quick to back down because they know if they push hard enough, there's a good chance they're going to get the assets. On the other side, if you can tell a plaintiff attorneys that your assets are controlled by a foreign trustee in a jurisdiction such as the Cook Islands, NEAS, or BLE, and the money is held in a bank account in Switzerland, and no matter what a US court rules here, the assets are not going to be touched, you're going to have a plaintiff attorney who's much more willing to either drop their case entirely or take your settlement offer.

Wow. I mean, so it's basically a negotiation play, but it allows you get to have a massive upper hand in the negotiation. It it's a few things. It is a tool that gives you power to negotiate, but it's also a tool that even before a negotiation begins, even before a lawsuit has been brought, it brings peace of mind. And that there is very valuable in and of itself, even if the client never ends up getting sued.

So, at what point should an entrepreneur consider setting up asset protection? So generally once their net worth gets to around a million that's when they should look at setting up some type of asset protection plan. Certainly when it gets to around $2 million in assets they become very appetizing for a plaintiff attorney. Now if you are in a position where you have a lot of liability, you're a doctor, you're an attorney, you're an engineer or you have children who drive a car that you own, you're at an increased risk and maybe even before you get to a million, you should be looking at setting up an asset protection plan. But generally once your net worth gets to be one or two million dollars or more it's definitely wise to do something so that in the position that if you get end up so that if you end up getting sued you have negotiation power and you've got the peace of mind.

So I what I did when when I was married was we set up we met with an attorney asset protection attorney. We put all our properties in the trust. We put our death benefits all this and that and it was like eight grand. Now doing it overseas obviously is a lot more because you set you set up overseas bank accounts, you set up Swiss bank accounts, you set up all that so people have access to these offshore platforms. Well, so the type of trust that you most likely created is a revocable living trust, which is a great tool for avoiding probate and passing assets to your children after you pass away. But the problem with a revocable living trust is it does not provide you any asset protection while you're alive. So, if you want a trust that's going to keep your money protected while you are alive, you need to set up what's called an asset protection trust. And that can be done in the United States or that can

be done offshore. And the fees for those for a domestic trust, a domestic asset protection trust generally are going to run maybe 10 15 to around $30,000. An offshore trust is going to run somewhere around 25 to $50,000. So, it's a very different pricing model when you're looking at a structure that's going to actually protect you from lawsuits. And if you're looking for a structure that's going to protect you from lawsuits and work, you're looking at something between $25 and $50,000. My firm charge around $30,000. We give our clients a very good value.

That's awesome. Now, you are one of those attorneys that's always on the move. You've established like the biggest, not only the biggest firm, but the biggest brand in the space. How has creating a brand really catapulted your your business? You know, it's very interesting and I was thinking about this as I was flying out from Miami to LA last night. Years ago, when I got into the industry, I started traveling and because of the traveling, I grew a large client base. Last year, I was told we set the record by one particular trust company for the most number of Cook Islands trust registered in their 40-year history. And because of my travels and sharing this on social media, it has grown a large client base.

The large client base has then given us a lot of experience. And it has allowed me to build a team all over the world where we've got people who can answer phone calls and respond much more so than a team that's based all here in the United States. Can you repeat the question one more time? Make sure I hit it right. So I no but it's more you know right now you you you're traveling all over the world but you have such a big brand in the space like on social you got millions of followers social media how is that how has that elevated your business hundreds of thousands of followers but there have been videos with millions of views and yes it's been great for the business in a lot of ways not I mean certainly attracting clients we are very narrow focused our firm doesn't do DUIs and divorces and car accidents we're very hyper laser. We're hyper laser focused in this in this industry. It's also meant that other

people in the industry have reached out to me. International trust attorneys, trust companies, protectors from different places in the world have reached out to our firm and it's enabled me to grow what I believe is the largest role decks of anybody in the industry. So, it's been helpful for finding clients and gaining experience that way on my own. Just by traveling to more than 40 countries, I've built up a big network. But the social media presence has also brought other professionals to me. And a big part of the reason clients choose to work with us is because of the network that we have and the ability to say if you need something done relating to asset protection, if our firm can't handle it in-house, we're one phone call away from the person who can.

I love that. So your network's really like insane now. Actually, you and I were talking about that before the show. It's like, you know, podcasting, doing this social media, dominating kind like your internet presence really just opens your mind up. You're the first attorney I've ever heard or even spoke to says, you know, like it opens your mind up to a whole new way of thinking as an entrepreneur, as a visionary,

which is so important as an entrepreneur. Now, what I'm about to say doesn't apply to you or anybody listening or watching the podcast, but the majority of Americans are very narrow-minded in how they think. Most have never left America. those who have most have not gone beyond Canada or Mexico. But the entrepreneurs who are going to be the most successful in the decades to come think globally for the solutions to their problems. That's very much what we do. We bring global solutions to problems that are here in the United States.

And that's something that's missing. I've never spoke to an attorney to give me a global solution. You know, they always think just here. But

it's about time, you know, like we're really not protected with the laws here. You know, you still open yourself up. Yeah, we can bob and weave and somehow negotiate, but like are we fully protected? It's not like a full protection strategy. Absolutely not. Under article 4, section one of the US Constitution, every state has to give full faith and credit to the judgments of every other state. So, you've set up a great asset protection plan in this state, but you get sued in another state. It's possible that judgment could be enforced here. You don't have to worry about that when you go overseas because by law, the Cook Islands will disregard a court order from anywhere in the world other than the Cook Islands.

Unbelievable. Now, how do you reconcile like the traditional confidentiality of legal services with the transparency demanded by platforms like Tik Tok or Instagram or whatever?

Sure. So, I talk a lot about war stories and client success stories on social media, but we never do this in any way that compromises clients protected information. We'll use different names. We'll tweak certain facts so that we don't reveal anything that could compromise the client's privacy. However, I do draw on my my team's years of experience and seeing cases and how they've played out and share that with the public so we can educate them. This is my job. I am uh interested in growing my business. But I'm passionate about what I do and I believe in it because freedom, which is the most important thing that all of us want and desire in our life. Freedom does not exist without protection. If somebody can take away everything you have, you're not really free. until you've taken action to keep yourself and your family's wealth protected, you don't really have any freedom.

And you don't really think about it like that. You know, it's uh and it's so true.

And there's a lot of very successful entrepreneurs out there who built these great businesses, but they've been so leg laser focused on building their business, they haven't thought about the big picture of what happens if I do get sued. Now, your firm, you guys literally specialize in offshore trusts like in the Cook Islands and and the Navies, right? Um, how do you address concerns about the ethical implications of offshore asset protection because that's such a taboo subject, right?

Totally. And it goes back to what I was saying about Americans being very narrow-minded. If you start a business, Joseph, the first thing someone's going to say to you is, "Go register an LLC." If your assets start to grow, someone's going to say, "Well, why don't you set up a trust for your family?" And then someone says, "Oh, your assets have hit $2 million, why don't you set up an offshore trust all of a sudden?" That doesn't seem right. No, I don't buy this belief that being weak and unprotected is honorable. I think just the opposite.

I think good people, they do everything they can to make themselves as strong and as protected as possible. You can you can't stand up to evil if you are vulnerable. And I think that using the tools available to keep yourself protected is one of the most ethical things you can do.

And that people don't look at it like that. They go, "Oh, offshore." Some do. Yeah.

We've got a growing client base who who does. Um there's other people setting up the trust who do. But a lot of people they hear offshore and immediately think this is going to be a numbered account in Switzerland and that we're hiding from the IRS. And it's just the opposite. Everything we do, we report to the IRS. We give clients on how to complete the reporting requirements. But no, there's nothing illegal and it's far from unethical

and it's not like their their bank accounts or anything and this is just a asset protection strategy overseas.

Well, it does involve open a foreign bank account. So the trust typically is registered in the Cook Islands. So we have set up trust in other jurisdictions like NEAS and we do business in Bise as well and other offshore jurisdictions beyond those three jurisdictions. But once a trust is registered, we then help clients open a bank account and usually we'll help them open a bank account in Switzerland. So the trust would be registered in the Cook Islands, the safest jurisdiction for an asset protection trust. And then the money will be held in Switzerland, which is the safest place that Americans can routinely open a bank account. Under the structure, they can invest in stocks, bonds gold silver cryptocurrency anything they can invest in themselves, they can invest in through the trust. So we open both the bank account and the trust offshore, and that's where they get the real protection. Let me ask you,

are there tax benefits to opening an account in Switzerland? I wish the trust itself is tax neutral. It does not increase tax liability. It does not decrease. Putting assets in, taking assets out, always tax neutral. Assets can be transferred over in kind. You don't have to liquidate your portfolio. You don't have to realize any gains when you put them into the trust only if you were to sell them in the trust. And

so the same tax implications, same exact tax implications. It does have to be reported to the IRS and Fininsson and we give our clients a detailed memorandum on how to complete those reporting requirements

and they just hand that to their accountant and their accountant CPA CPA does their magic with the paperwork client signs off and it does not increase your chance of an audit either. The IRS sees reporting your offshore trust as an act of compliance and in no way does that raise any red flag or penalize an individual. Yeah, because I could see how that's a concern because the IRS is like, "Well, let me see the rest of you're already reporting everything that's in that account."

Correct. And the IRS likes to see that you're reporting and likes to see that you're complying and the IRS has plenty of people to go after who aren't even filing their taxes or aren't even paying their taxes.

And it's a complex issue for the IRS. The IRS is very well trained at going after simple matters, but the more complex it is actually, the less likely it is the IRS has the brain power to go after. Now, you know, obviously as a lawyer, every lawyer has to pick their niche. What was that pivotal moment that when you realize that you want to just basically go allin on asset protection?

So, I've been an attorney for about 15 years. I've always focused my legal career on trust. It was early in my career. I had done other types of trust, domestic trust, the revocable trust that you mentioned, but it was many years ago after I'd set up a asset protection trust. A client came back to me a few years later and I was talking to them and various family members along the way. The case finally went away and I got a call and from an individual who they're they hired us several years earlier and I remember the exact words.

Blake, the trust worked exactly as you said it would. We were able to keep all of our money. They didn't even have to pay a settlement. They were able to keep all of it because of the trust. And when I heard that, I said, "You know what? This is the type of feedback I want to hear. I'm not going to do anything for the rest of my career other than go exclusively after setting up offshore trust. And for several years now, we've done nothing but set up offshore trust."

Now, to that point, I I'd like to ask for like the best story. Do you have a good story that really comes to mind where you're like, I just saved this guy a billion dollars.

So, we had a client who sold a business. We'll say it's a trucking business. He'd spent 20 years building this business up. And then after he sold the business, he got a fee of around $12 million. Put that money into a Cook Islands trust. Many months later, a few months later, the business started tanking. The new owner didn't understand how to operate the business quite as well as my client who'd built the business from scratch. The new owner tried to undo the transaction, sued our client for $12 million. This was going to leave our client in debt because the cl the client had already sent some of that money to the IRS.

Once we revealed that the client had all their funds inside of a Cook Islands trust and the plaintiff likely was going to get nothing if they proceeded with their case, the plaintiff agreed to settle the case for somewhere around $150,000. Pennies on the dollar. I don't know how the case would have turned out if they did not have the Cook Islands trust in place, but I highly doubt it would have looked anything like the result we got then.

Well, let's say that 12 million was in a revocable trust here in the US. I mean, can they have pierced that trust? Easily a court could have ordered the client to revoke the trust and hand over the assets. The with a revocable trust, typically the client's in charge. Even if the client's not in charge, the court will read the document and say the assets the trust is revokable. Revoke it and pay your debts. On top of that, if the assets were in the United States, even if it was an irrevocable trust in the United States, the court could have still gone after that asset as long as it sits here in the US. So, if you want real protection, you do two things. You get the control offshore and you get the asset offshore. And at that time, you're golden.

You know, like I love hearing success stories because at the end of the day, this is what we're passionate about. This is what excites us. And if we don't live a life of purpose, like what's the point right?

If we don't live a life of purpose and a life with peace of mind, too. Simply going through a lawsuit, it's going to be expensive. It's going to be stressful. It's going to bring some hard times maybe into your b is going to into your personal life. It's going to distract you from running your business. Being able to settle a case quickly and move on. There's a lot of value in that.

Oh, of course. Well, I mean, I run a big business, so lawsuits are just part of the business. We have stacks of them. That's why we have in-house counsel. I mean, so for me, I'm just used to lawsuits, but when it hits me personally that I'm not used to like the business, like because we operate a massive one, it's no big deal. Lawsuits are just part of the game. Personally, like they're terrifying.

It's it's it's not fun. And what I see happen sometimes is individuals get hit with these completely bogus claims, but the individuals are wealthy and they're busy and they see how much it costs to defend a claim that they end up just paying settlements as opposed to spending the time, money, and effort and resources to defend a case and individuals become victims of legal extortion. And I don't want that to happen to me and I'm certainly don't want that happen to any of my clients. Uh now pivoting a little bit now you're kind of a big deal online you're quoted in tons of publications. Now how do you ensure that your public persona aligns with the serious nature of what you do for work? So what I do for work I take very seriously. I'm very careful with who we hire and how we train them. But I also in both my personal and professional life don't consider myself a very stuffy person. I am very laidback

in how I communicate with clients because that's who I am. Also, it gives clients a lot of confidence. When I started in the practice of law 15 years ago, I was wearing a suit tie every day because I didn't know what I was talking about and I needed to compensate. As I got more comfortable with what I was saying, I become more comfortable in how I dress. And it's very disarming. And clients are much more willing to open up and share with me. And I want that because that communication is very key to successful outcome. And it gives clients more peace of mind, too. So, uh, while we take our work very seriously, while we only work with the most reputable, while our team is very responsive, and I say all these great things about my firm, you can go online yourself and read our reviews. We have over 70 Google reviews. Every single one's a five out of five stars. We do take it very seriously, but at the same

time, we want to be approachable. We don't want clients to feel intimidated when they talk to me or anyone on our team.

I love that. It's all about delivering an incredible customer experience. An incredible customer experience where they are comfortable from the first time they contact us until the relationship ends, whether that's months, years, or decades later.

So like the process of getting uh asset protection, you walk these guys through. It's not and it takes several weeks to set something up, right?

So usually clients will fill out a contact form on our website or they'll give us a call. You'll then have a call scheduled with one of the attorneys at our firm. We will then do an evaluation to see whether you'd be a good fit for an asset protection plan with our firm. A lot of people contact us and we tell them that we're not the right fit or we send them in some other direction. But for those who do fit the criteria and we think a Cook Islands or an offshore trust of some type would be beneficial, we'll then send them all the information needed to get started. The initial fees around $30,000. Once they've signed our engagement letter and submitted the initial fee, it takes about 30 days to get the trust established. Now, if clients are being very responsive and they have a fairly clean background, we can expedite that process. Once that's done, then we start the process of moving assets into the trust. That

typically takes around 30 days to move the assets in as well as get a bank account open. So, all in about 60 days is what we quote clients. Though, in some circumstances, we have gotten everything set up a bit quicker than that. Now on title and everything, you move all the properties into an offshore trust. Does it say like this is a Switzerland trust on the title? And so the primary home will go directly into the trust unless you're in a state like Florida or California where your home's I'm sorry, Florida or Texas where your home's already protected or your home is already covered by homestead protection minus any debt.

We will then put the home directly into the trust if there's any unprotected equity in the home. Other real estate should typically be held by an LLC registered in the state and the jurisdiction where the property is located. Then the LLC will go into the trust and then a bank account would be open directly into the name of the trust. So either the assets will go directly into the trust or go into an entity which the trust then owns. Um now your firm officers um your firm offers services like crypto asset protection which is obviously the biggest emerging market right now. How do you navigate the rapidly evolving regulatory landscape of these digital assets? Like it's like insanely regulated right now. So it is a changing l it is a changing landscape and finding partners who are willing to hold crypto is something that we have put a lot of effort into at my firm and meeting with the banks custodians of crypto is

something that we've made a lot of effort to and I don't think any other asset protection law firm has done as much crypto asset protection as my firm. I'd venture to say we've probably done more crypto asset protection than everyone else in the industry combined. We give clients a few options for how they hold their crypto. If there's no pending litigation, we will assign the crypto to the trust and allow the client to keep the keys. If there is pending or threatened litigation, we'll have the clients use a third party. That could be a third party vault. That could be a family member or friend, preferably outside the United States or with one of our banking relationships in Switzerland or Lechenstein, that will hold the crypto through their through their bank.

So, there's a few different ways clients can hold it. Um but ultimately it's still taxed the same way it would be taxed if you held the crypto your crypto yourself. It's a market that um the demand for it swings with the crypto market. When Bitcoin goes on bull run, we get a lot more crypto calls when Bitcoin's tanking. We still have clients who crypto is a portion of the portfolio, but it just varies. But we're very well positioned to be the leading crypto asset protection law firm.

Wow. I mean that's great to great to know, great to hear. And uh as uh you know even myself as I get more involved in the crypto space like and I have so many questions about even like the company like as a corporation our corporation you know who's always just you're being attacked left right and center just the bigger we are the more market share we get the bigger our national platform gets the more targets on our back

the larger an empire grows the more vulnerable it becomes to attack. Certainly.

Yeah. Like I said at the beginning, a lawsuit is a bad success. If you've been successful enough, you can expect to be sued, still grow, still become as su as successful as possible, but have the proper defense in place.

I always refer to King David where he would say, "Lord, why do all my enemies multiply?" Like, like why why is this happening to me? Like why do those who afflict me keep multiplying? It's just like out of nowhere. And uh what's like so for a corporation is asset protection you're like this is the way to go.

So typically when we set up an offshore trust it's either for an individual or for a married couple. Now often that individual owns or has a large investment in a business and our strategy for protecting a business is one of the following. You can put the business directly into the trust or you can take as much out of that business as possible. So operate the business as thinly capitalized as possible and then once you pull the assets out of the business, put that into your offshore trust. If the business has hard assets, we'd recommend taking the hard assets out of the business, selling them, maybe leasing them back from a third party. So the business doesn't have a lot for somebody to take, take a poison pill, so to speak, put as much cash into the offshore trust. And all of a sudden, when the business has very little cash on hand, it becomes less appetizing to sue. And again, if the business gets

sued, this gives the business leverage to negotiate and say, "We don't have a lot of cash on hand for anyone to take."

So, deplete the cash on hand. Deplete the cash on hand, remove hard assets, and make it as thinly capitalized as possible. Run your business lean and mean.

Yeah. Unfortunately, because we're a bank, we can't really do that. You would need to keep a little bit more cash on hand.

Yeah. We have to keep millions on hand cash. So in your circumstances, it actually might be a situation where setting up a Cook Islands trust directly for the business makes sense so you can keep the bulk of the cash in an account offshore that a court can't force you to pull it back from. We would need to maybe offline have a little bit more of a discussion on how often and how much cash you need on hand and how much you could stick away for six months at a time. You always have access to it. don't have to wait 6 months at a time, but if you're going to be accessing it within the next 30 days, it doesn't necessarily make sense to put it offshore.

And just out of curiosity, those offshore accounts like bank accounts here, they're paying four or five%. They're not paying much over there, are they?

It depends on how you invest the money. If you are holding it in, it depends on what current which currency you use, whether it's the Swiss Frank or the US dollar or the euro. And then beyond that, you can buy CDs or bonds or T- bills or invest in crypto stocks, bonds. So just depending on how much risk you want to take on, you can get whatever aim for whatever return you want.

Okay. So still same same thing as all of the same investment options you have now, you'll have in the trust as well.

Okay. Um now you wrote a book. It's called Asset Protection. Don't let a lawsuit take everything. Now that offers tons of strategies guarding it, you know, guarding your wealth. What's a common misconception that re that readers have after reading it? Like what what do you what have you heard? After reading it, they don't have any misconceptions yet. But before reading it, I think some of the misconceptions go back to number one, the wealth needed to justify setting up an offshore trust. If you've got an individual worth $300 million and they get hit with a $5 million judgment, it's not really going to have any real effect on their standard of living or quality of life.

But if there's an individual worth $3.5 million and they're hit with a $5 million judgment, that could have devastating effects on their standard of living and quality of life. So, first of all, misconception is that an individual is not wealthy enough. If you're a millionaire, you should definitely at least consider look into setting up an asset protection trust. The other big mistake, and I sometimes wonder if even having a book causes more people to make this mistake, is putting it off. If you set up the asset protection plan while waters are calm, I can get you a very good result. If you wait until you've been sued, we may be able to do something to mitigate damage, but the result that you are going to get is not nearly as good as the one who plans ahead. An ounce of prevention is worth a pound of the cure. Now, one thing I love about you is setting you you've you always talk about the global network.

Now, how do you vet these international partners? And how do you ensure they uphold the standards that you know I'm looking for, that you're looking for, that the firm's looking for?

So, there's a couple ways that I vet. I get out in the field. I meet people in person. I'm flying tomorrow morning to Hong Kong to meet with some colleagues there and speak at a conference there. I've been to the Cook Islands many times and as I mentioned, I've been to dozens of different countries and I travel extensively because there's a big element of how do you feel about a person when you meet them in person? That energy of meeting somebody in person. That's one thing that is very important to me. What does my gut say?

And I'm big believer in trusting your gut. Number two, their industry reputation. The more people you know in the industry, the more the easier it is to get feedback on someone else. see how others have perceived working with this individual. That's a very important one. And then the third is how responsive are they? My firm, we're extremely responsive. I'm on my email more than I want to admit. And finding people in some of these smaller island countries who are responsive sometimes can be challenging. Sometimes you get a little bit of island time where they're a little bit slower to respond. And if they don't respond quick enough, then we're not going to work with them. We're going to work with somebody who operates at appropriate speed. So, it's three things. It's the gut feeling when you meet somebody in person. It's their overall reputation from people who I trust in the industry. And it is their

response time. Now, looking ahead, what do you think are some unconventional strategies you're exploring to keep the the law firm alive and at the forefront of asset protection? Well, we are always looking to grow and what I'm looking to grow more so is vertically. I'm looking to see how we can find trust companies who will mold their process to fit our firm's process so that when clients hire us, we can streamline the onboarding process. And I'm doing the same thing where after I go to Hong Kong a few days later, I'm going to Zurich and meeting with some of the banks we work there and going to be talking about how they can simplify their onboarding process as well. what I want to deliver for my clients is not only the best value. And when I meet with our international partners, I'm negotiating. I'm trying to get a better deal for my clients. I'm also trying to get a smoother and quicker process. Long-term, my vision is

going to be so is is such that a client hires us, they submit one intake form. We run this through our law firm. We run this through the bank. We run this through the trust company. and faster than it can take some people to draw up a revocable trust. We're able to set up an offshore trust. I believe we can already do it probably quicker than anyone else in the industry because of the quantity of work we do with these trust companies. They will often push our clients ahead of other clients, but also getting it so that the banks are on board. So, as far as what are we doing that's unconventional, we are partnering and digging deep into the processes of our various offshore partners to streamline the process for our clients.

I love that. Now, pivoting the show a little bit, we're going to talk about the family. Um, now you got two beautiful children and you know,

the third one's not so cute. No, just two children total. Um, and uh, you know, you your your kids are are growing up in a much more fortunate environment. Um, how are you making sure that your kids grow up with that same resilience, that same level of grit that you've instilled in your life? Um, so I was raised by a father who was an attorney and had his own practice and it was very much a inspiration and a model. And I feel like I'm doing a lot the same for my children where they see dad works a lot. Dad takes time off to be on one-on-one with his children and give them give him his undivided attention, but they understand that dad has to travel because dad's going to go out and do the best thing he can for himself and his career because that pays dividends to the family. So I think what's very important is being a good role model. Beyond that, I do like to to the point that my children show an

interest expose them to the team that I work with. I've taken them to Switzerland and they've met with some of the bankers we work with. I taken them the past few summers to NeAs. We have a great time there as as well. And when we travel, I very much put it on my children to figure out how we are going to get from point A to point B. So, we show up at the airport and I say to the kids, where do we go from here? Well, what what airline are on? What flight are we on? They figure it out. They figure out how to get us through security. They figure out how to get us onto the plane. and I just let them kind of lead the way because I want them to get comfortable figuring out things on their own. And um and it's been and it's been wonderful. And uh I encourage everyone who's listening to this, if you're on the fence, go out and have children. Children are a wonderful thing. They take time, they take money,

but there's no better place to spend your time and money than on your children. I've had no regrets about uh about having children.

Best thing ever happened to me. For sure. For sure. That's why I want like 20, but you know, I can only afford four so far.

That's that that's that's that's you're you're ahead of a lot of people there. Uh now, a couple last questions. This uh this is about goals. Three-prong question. What's a personal goal that you have for yourself, a goal that you have for your business, and a goal that you have for your family?

Okay. Um well, I will start with my family. I would say that I want to make sure that as my children are entering their teenage years that I continue to have the open relationship with my children where they are comfortable communicating with me. Those teenage years get tough for a variety of different reasons and I want my children to still be very comfortable communicating with me honestly about their fears, about their excitement, about what they're excited about. um maintaining that relationship with my children is going to be very important and uh so far I think I've done a very good job at that. I feel like I have a very good relationship with both of them and I'd like that to not change. As far as the business is concerned, we have worked very hard to maintain the reputation that we have in the industry and I would like to very much preserve that. We have a team of about 12 or 15

full-time employees right now. I don't look at that as a metric that I'm necessarily trying to grow. I'm much more interested in growing the number of clients we can serve and how well we serve them. A byproduct of that would be a growing team. But right now, we have a team that I'm very proud of. We've got some very smart, very talented, very detail- oriented, very hardworking, and I would like to see the team grow where we don't compromise the level of excellence that we have. And I could spend a whole another 45 minutes talking about how we employ a former trust officer from a Cook Islands and NeAs trust company. How we employ what I think are some of the smartest people in the asset protection field. How we have extremely well-trained support staff as well. So I'd like to really stay on course. I mean I would like to grow the business too, but I'd like to stay on course and continue to maintain the

brand. When people think of Blake Harris Law, I want the first thing that comes to their mind beyond officer asset protection to be integrity. When we say we're going to do something, we're going to do it. I'm not saying that mistakes don't get made. The mistakes are exceedingly rare, but I'm saying that our word is golden. As far as personal personal goals, I turn 40 here in a few months. I'm quite happy with the life I live. I have um a lot of travel. I've got a lot of friends. I'm in the best physical shape I've been. Um, but I would love to see uh my Muay Thai skills get better. I'm still a beginner of that. Maybe uh a pro when it comes to acid protection, but I still suck when it comes to my fighting skills, and I'd like to see myself uh get get better in that regard. And um

maybe compete or something. Uh maybe maybe I once the blessing of my coach come once I get the blessing of my of my coach then then I'll do that but

the next vanam I'd like to avoid any any any injuries and uh continue to have fun continue to have fun uh in in what I'm doing with work and continue to enjoy the people I work with podcasting traveling social media

I'm do I'm I'm I'm I'm doing it. I mean, there was it's been a lot that's gone on the last 39 years between schooling and college and law school and a marriage and a divorce and unpaid internships when I was younger and not working for the right people at different time. I mean, I was working for the right people because it got me to where I am now and made me appreciate it now. But now I'm at a point where the energy is flowing well and I'm having fun and I feel like I'm surrounded by a very loyal team both in terms of my friends but also in terms of the team I work with at Blake Harris Law and I want to keep uh I want to keep going.

Last question. Ask everybody this question. When you're in front of the pearly gates, what do you think God's going to tell you? But I think God's going to tell me that I have left behind wonderful children who will continue to spread God's love for all of humanity after I'm gone.

I love that. Blake Harris, if people want to find you, how do they do it? Blake Harris Law.com. Blake Harris Law is my Instagram, Tik Tok, X, Facebook, all the major platforms. Blake Harris Law. Phone number is 823. Ask Blake, which is blakehaw.com. Feel free to DM me on Instagram or shoot me an email, blake blakehaw.com.

Blake, thank you so much for coming on the show. Thank you for flying in and doing the show. Thank you, Blake Harris, the man, the myth, the legend. Thank you guys for watching.

Thanks, Joseph.

Questions about this episode

Who speaks in "Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris"?

Blake Harris (Guest).

What is "Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris" about?

This discussion explores how ultra-wealthy individuals shield millions from lawsuits through sophisticated asset protection strategies, legal structures, and professional guidance from top practitioners. It covers key concepts, common techniques, and the importance of legal compliance in preserving wealth.

What is mentioned in this Coffeez for Closers with Joe Shalaby episode?

33 people, works and ideas are mentioned, including asset protection, Offshore Trust, Vice President Harris, Cook Islands, Asset Protection Trust, Blake Harris Law. Each one on this page links to its own page with every episode that mentions it.

How long is "Offshore Asset Protection: How the Ultra-Wealthy Shield Millions from Lawsuits | Blake Harris"?

The episode runs 45 min; the transcript is about 8,082 words in 89 timestamped sections.

More from Coffeez for Closers with Joe Shalaby

About this transcript: the episode's spoken words as captioned on YouTube, split into timestamped sections. Reclip.Me locates every person, work and idea in the text, keeps the time it is first named, and quotes the words around it verbatim. Last updated October 29, 2026.