If you are the only person in charge of your trust, a judge can order you to hand over the trust assets to your creditors.
[Read more…] about Why can’t I be the only person in charge of my asset protection trust?How can I be a trustee and also get asset protection?
People rarely want to give up control of their trust and assets. It is possible to be the trustee of your asset protection trust, but it must be set up properly so that an independent trustee can step in when needed.
[Read more…] about How can I be a trustee and also get asset protection?Your right to asset protection
Done early and without motive to screw over existing creditors, you’re within your right to put an asset protection plan in place.
[Read more…] about Your right to asset protectionWill asset protection planning make me look bad
Some people we speak with wonder if asset protection planning will make them look bad.
Planning early, avoiding tricks or gimmicks, and still being able to pay your existing bills and debts after the planning is key to not “looking bad.”
Asset protection legwork
Getting serious about your business or asset protection planning may involve some legwork, such as reevaluating your insurance policies.
[Read more…] about Asset protection legworkAsset protection after signing a personal guarantee
Effective asset protection planning works for future, unforeseen creditors. If you have signed a personal guarantee for a lease or loan, then you have an existing creditor.
Asset protection planning, to protect you from an existing creditor, is likely to fail.
