Asset
Protection Strategies
It
is a fact that 1 out of every 5 Americans will
be threatened with a lawsuit this year. That is
why more and more Americans are looking for the
best Asset Protection Strategies available to
protect their homes, their personal assets, and
their business assets. We need protection from
frivolous lawsuits, judgments, wage garnishments,
bank levies, and other forms of debt collection.
Did
you also know that there are as many people in
law school right now as there are lawyers today?
That means within four years we'll have nearly
twice as many attorneys as today! How will they
make a living? Hopefully, not off you and me.
Quality estate planning is the only way we have
to protect our assets from collection agencies,
collection attorneys, and other trying to collect
on judgments against us.
Estate
planning that truly protects against frivolous
actions involves more than just setting up a revocable
trust. That is because a judge may simply order
that your revocable trust be placed back in your
hands, and the assets seized by a creditor.
To
fully protect your assets, you may want to set
up a Family Limited Partnership, in which you
have complete control of the assets, but almost
no liabilities. If you have rental properties,
you may want to put each of them in a Limited
Liability Corporation which will protect you personally
if one of your tenants falls and decides to sue
you. Yes, it is unfortunate that we have to take
such measures, but often we must. And, corporations
can be excellent ways to protect our assets. And
like everything else, you must shop around and
become fully informed before settling on a company
that will show you to protect your assets. One
that we personally recommend is LegalZoom
which, in addition to asset protection services,
provides a legal library and useful articles and
advice.
If
you want to know more about asset protection-
what the different strategies are, which one is
best for you, and how much they cost, then click
below. We are happy to answer any questions you
may have and provide, any services you need.
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