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Home > Services > Domestic Wealth Planning > Personal Residence Protection > LLCs or Trusts for Personal Property?
Personal property is especially vulnerable for creditor attack. Items like jewelryy, boats, sports equipment, cars, electronic equipment, antiques and art are all seizable by creditors and litigators. There is one sure way not to lose these posessions from a person's benefit; that way is thru a trust. Many people ask, "How can I protect my personal property?"
A trust separates ownership from beneficial enjoyment. Protection occurs with a simple theory, what you don't own cannot be taken from you. A trust splits the title of ownership from the beneficiary with a deed. It is also possible to create a trust that will pass assets from generation to generation and minimize estate taxes.
LLC's or Family LLC's are methods that also may be used. It is important to know that some methods allow attachment without the loss of the benefits. Understanding trusts and company entities will help a person make a decision as how to best protect their assets. Personal property and cash are among the easiest assets for a creditor or litigator to take.
Please review this Charging Order and LLC's video for more information
Whatever method you chose, a qualified expert should be consulted. If you need help with this process, please call us today 1-888-435-6030.
Take the risk analysis to find out your exposure to creditors and litigators. Isn't it worth 5 minutes to find out how much risk you really safe?
One attitude that cannot be tolerated in medicine is a lack of care or apathy. We feel physicians should exercise the same standard of care toward their accumulation of assets, property and wealth.
Written by the foremost expert in the country!
Physicians and their Advisors Will Gain a Practical Guide in the Following Subject Areas
►Asset Protection
►Estate Planning
►Income Tax Reduction
►Financial Planning
►Office Management
►Corporate Structure and Protection Structures
Learn how to protect your personal and business assets from disgruntled patients, creditors and divorce through the use of domestic and offshore planning tools.
Estate Planning - Learn how to avoid the most common estate planning mistakes that could cost your heirs $500,000 - $3,000,000 or more and learn how to avoid the 70-83% tax trap.
Income Tax Reduction - Learn how to reduce your income taxes by $25,000 - $200,000 annually while avoiding the tax avoidance shams in the marketplace.
Financial Planning - Learn how to protect the principal of your investments while still giving yourself the opportunity for upside growth if the stock market performs well.
Office Management - Learn several practical and easy to implement solutions that will help you run a more efficient and financially sound medical practice.
Asset Protection Planning Part 3 concentrates on the protection of personal residence, business acco ...
Would you like to remove a dollar from your company, and even better, a tax deductable dollar and pu ...
Trustmakers Estate Tax planning provides advisor direction and guide information on protecting your estate.
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