Summary: Don't get married, but if you do, keep your assets in a trust.

For those of you who read financial news, there is a huge story about a Panamanian law firm whose files got leaked. They are the go-to firm for setting up anonymous trusts and other vehicles for protecting assets from domestic legal overreach.

There are a bunch of other stories about how heads of state and people connected to government used this firm to launder and funnel assets out of their countries. The irony is that it's a law firm that facilitated strictly legal structures for extra-legal activities by government officials. The firm is taking the hit, not the farcically corrupt officials who are being named and shamed as a part of it. There are some notable names missing from the reporting, and some conspicuous absences on the list of countries where people with real money live, but whatevs, the point of this post is about the sanctimonious hags who go hunting for their husbands assets once they are too used up to branch swing to a greater fool.

Here's the link: https://panamapapers.icij.org/20160403-divorce-offshore-intrigue.html

I wonder if gay men marrying each other will form more honorable unions (or better criminal conspiracies) than what these international superchumps have managed.

Anyway, this was just one firm. If you are in the asset management game, remember to diversify your portfolio of advisors. If you've got a big pot, don't bet it on a single law firm, accountancy, auditor, or country. Guys who make bazillions are always looking for the next win without covering their downside. If you are an HNWI or higher, most of it is covering downside.