When you set up an asset protection trust, you don’t want to put ALL of your assets into the trust so that you’re completely “broke” on paper.
When designing your asset protection plan, you do want to put your most desired assets into the trust, out of reach of future potential creditors. The steak of your assets is cash and other liquid assets.
Creditors want to take those because they are easy to take and put onto their own dinner plate. Removing those desirable, easy-to-take assets can make you less of a target for stupid lawsuits.
[Read more…] about Take steak off the plate