Mama as a guarantor

Our client, a 73-year old woman, guaranteed her son's loan.  The son's real estate business failed and the bank came after mom to collect the personal guaranty.  The personal guaranty, plus penalties and interest, would have wiped out mom's entire estate.  All the assets she had accumulated over her entire life would have vanished.

We implemented an offshore structure to protect her liquid assets (which comprised the bulk of her wealth).  The bank, having reviewed the structure, opted not to pursue the assets and let her be.

This is not a result we can guaranty.  We can guaranty that if she did not attempt to protect her assets, this result would be impossible.  Doing something is almost always better than doing nothing.