At some point during a lawsuit, the lawyer suing you is going to want to know what assets they can take from you. You’ll have to lay out everything on the table to let them know what you’ve got to lose.
What will be on that table varies greatly if you have a trust based protection plan or an LLC based plan.
Asset protection planning ladder
Building and growing your asset protection plan is like going up a ladder. As you go higher up the ladder, your level of protection increases. The views are great at the top
[Read more…] about Asset protection planning ladderWhat is a Cook Island trust?
A Cook Island trust is a trust based on the laws of the Cook Islands. The Cook Islands have great laws for asset protection trusts.
Many people go there to establish trusts so that they don’t lose their assets to stupid lawsuits.
Colin Ley is an asset protection attorney and the creator of the PREP Trust®. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Want to protect yourself from stupid lawsuits? Let’s talk about your asset protection strategy: book a free initial consult
How much does it cost to set up an offshore trust?
How much does it cost to set up an offshore trust? That’s a question I get a lot and it depends really on who is making the trust for you.
The cost to set up an offshore trust varies between about $15,000 to $40,000 if it’s being made by a US attorney.
You can read more about offshore asset protection trusts.
Colin Ley is an asset protection attorney and the creator of the PREP Trust®. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Want to protect yourself from stupid lawsuits? Let’s talk about your asset protection strategy: book a free initial consult
How do offshore trusts work?
Offshore trusts work by relying on the laws of different countries. When you go offshore, you’re using better laws than those that are offered in the US.
Typically many US persons are going offshore for better asset protection laws.
The U.S. does not offer great protections for people who are the victim of frivolous lawsuits. Countries offshore offer Americans better protection for their assets through trust and LLCs and other entities.
Related posts: Offshore asset protection trusts, Turnover Orders
Colin Ley is an asset protection attorney and the creator of the PREP Trust®. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Want to protect yourself from stupid lawsuits? Let’s talk about your asset protection strategy: book a free initial consult
Are trusts protected from lawsuits?
Certain trusts are protected from lawsuits, and more specifically, it’s the assets that are protected. But not all trusts can protect you from a court judgment.
One of the most common types of trusts is a revocable living trust, and those are not safe from judgments against you.
Colin Ley is an asset protection attorney and the creator of the PREP Trust®. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Want to protect yourself from stupid lawsuits? Let’s talk about your asset protection strategy: book a free initial consult
