Happier Abroad Forum Community

This video explains why you need to use corporations and entities to protect your assets:

I don't know about the US, but in Canada a corporation doesn't necessarily
protect its officers, directors, and shareholders from litigation like he says it does;
it's quite common for lawyers to go after them as well as the company, especially
if it's a small, private, closely held corporation. Even if the complainant ultimately
loses, it still costs money to defend the corporation and that means less dividends
for you.

I had a slip-and-fall last winter and the person was agitated and saying she'd sue
my ass off. I gave her my insurance info and thought, "No, you will not be suing my
ass off, your piddly small town lawyer will be fighting my insurance company's army
of high powered lawyers and good luck to you!" Never heard from her again!
Don't skimp on property and liability insurance!

As for being sued for non-accidental business reasons, do business like a gentleman
and enter any deal will full legal advice and an ironclad contract.

Now tax advantages, that's the big reason to incorporate, especially in Canada.
While Canada has high personal income taxes, our corporate taxes are actually lower
than America's.

^^^
I do know that even if the lawyers in the U.S. go after properly protected assets, they can't take a penny from that person.

It's even better if it is offshore .