Basic Asset Protection Planning

Rule One:

Do not delay in implementing your asset protection plan. Many successful people are guilty of waiting until the last minute in getting something important done. And, in many cases, this isn’t due so much to procrastination but because you are probably a very busy individual who can’t find the time to sit with a planner and put together an asset protection plan. Although this is understandable, you should be aware that the longer you postpone or delay setting up your plan, you may find yourself in a situation where it’s too late to do so.

Rule Two:

You get what you pay for. If you want to have an effective asset protection plan set up, you have to go to an attorney who specializes in asset protection. Needless to say, a good asset protection planner’s services do not come cheap. You could go to an attorney that charges less, but you have to remember that he/she may be unqualified and, in the long run, cause you irreparable damage. So, if you want to save yourself future headaches, find an attorney with solid experience in setting up asset protection plans.

Rule Three:

The worse asset protection plan to have is one with you holding on to all of your assets. The best is one where your name is removed from all of your assets. You can find a middle ground between these two by talking it over with your planner.

Rule Four:

If you’re married with children, it’s best to remember that your family comes first. Therefore, it’s highly recommended that they are included in your asset protection plan through Limited Liability Companies (LLCs) or Family Limited Partnerships (FLPs).

The final piece of advice is don’t delay! Remember, trying to implement an asset protection plan after you are being sued will not protect you from that impending lawsuit. It would be very disheartening for anyone to know that they should have taken action and, because of their inaction, have put their hard-earned money, property, and other assets in jeopardy.

ap Planning / Trust Info

  • What is an Asset Protection Trust?
  • Dynasty Trusts
  • Asset Protection Trusts - How do they work?
  • Who needs Asset Protection?
  • Basic Asset Protection 1
  • Basic Asset Protection 2
  • 8 Key Concepts
  • Practical uses of asset protection trusts
  • Settlement of an asset protection trust
  • Practical uses of asset protection trusts
  • Basic Trusts
  • Asset Protection Trusts - Guernsey
  • Asset Protection Trusts - Guernsey
  • Jurisdiction Selection
  • Best State for Asset Protection
  • What are Asset Protection Trusts
  • Death of Asset Protection Trusts
  • Low Income Trusts
  • Asset Protection under Nevada & RULPA
  • Foreign Asset Protection Trusts - FAPT's
  • Rutgers Law Review
  • Western Samoa Trusts
  • Isle of Man
  • Jersey
  • Lubuan
  • Liechtenstein
  • Privacy and asset protection
  • Lawsuit boom pushes people into protecting assets
  • Asset Protection privacy and the Internet
  • Revocable Trusts and avoiding probate
  • Asset protection: what assets need protecting?
  • Strategy tips for asset protection
  • Asset Protection Trusts: more ways to protect your finances
  • Where do you entrust your trusts?
  • The purpose of an Asset Protection Trust (APT)
  • Does Asset Protection really work?
  • Frequently asked questions about Asset Protection Trusts
  • Basic information about Asset Protection Trusts
  • Domestic Asset Protection Trust
  • Nine big mistakes in Asset Protection Planning
  • Can having Asset Protection get you in trouble?
  • Protecting your assets now
  • Asset Protection and Fraudulent Transfer
  • The legality of Asset Protection
  • Fraudulent Conveyance and how to avoid it

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