When you set up asset protection, the first thing you look at is what you're protecting yourself from and cater the solution around that.
That's why throwing around broad statements that "X works" or "just incorporate in Y" or "put your money in Z" are quite dangerous.
Holding money personally is easy from a tax and compliance perspective, but risky if you are the risk of creditors (for whatever reason).
Holding money in a company can be a tax (CIT, WHT, CGT, et cetera), compliance, and accounting/management burden, and corporate veil can be pierced in case of criminal negligence. You don't want to be on︀ the receiving end of a forced dissolution where the assets risk becoming government property if︁ you can't transfer them somewhere else (i.e. into yourself, at which point creditors can go︂ after you).
What's stopping a court from holding you in contempt if you refuse to︃ hand over assets citing the laws of Saint Kitts and Nevis? That only works if︄ all the steps before that were taken correctly (in good faith, well ahead of time).︅
Trusts, foundations, and other arrangements/vehicles can work but, again, only if you set them up︆ correctly. That means no dipping into your Liechtenstein Anstalt for pocket money every month to︇ buy a new Lambo or YOLO on some crypto.
What's safe for you might not︈ be safe for someone else, because you have different nationalities, live in different countries, have︉ different types and sizes of assets, and different life circumstances in general.
