Simply changing the legal title to a living trust with a generic name is an
Asset Protection Information plan that may work for some creditors, but not most. Many legal
finance experts insist that a better Plan is an irrevocable trust or total sale of the
residence. Another Strategie consideration is whether or not the protection will easily
convert the plan to money. Offshore trusts and offshore bank accounts are options in this
circumstance. Offshore is effective because the asset is outside the control of any local
court, so the debtor can t be ordered to bring the plan back to the United
States.
A great deal of information about asset protection
planning is freely available over the internet. Most of it is
simply wrong.
The most successful investment firms in the world have probably been those
that have been separated physically and psychologically from banks and insurance companies.
It is important to look at the evidence on the long-term returns to different venues, and to
holding period returns (the returns that accrue on average over different lengths of
investment). Have you ever thought about the safety and security of protecting your money and
assets in an account outside of the jurisdiction you live?
Along the way, we
hope to give insights as to what methods and legal positions can be effective for debtors,
without getting them into further hot water. But please note that there is nothing in this
website that even begins to be equal to the professional advise of an attorney licensed in
the appropriate state about unique circumstances (and no two asset protection cases are ever
exactly alike).
Use sound judgement and know the Laws in your state cocerning Trusts, Irrevocable
Trusts, Revocable Trusts and Asset Protection.
Knowing your rights and usuing Asset Protection can be a great benefit to you and
your familys future.
