The use of trust funds began in the Middle Ages. As knights went off to battle, they wanted to preserve their wealth and provide for their dependants should they not make it back. Today, trusts are frequently recommended for a variety of good reasons – including protecting assets against creditors, minimizing taxes, and providing for [...]
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Factual Situation: You are the owner of an IRA with substantial assets. You are also the owner of several vacant building lots whose present value is substantially less than your tax basis/acquisition cost. These building lots were purchased using a loan from a commercial lender that has a very high interest factor but the lots [...]
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Asset protection (sometimes referred to as debtor-creditor law) is a set of legal techniques, including statutory and common laws, dealing with protecting assets of individuals and business entities from civil money judgments. The ultimate goal of an asset protection plan is to insulate your assets from claims of creditors without concealment or tax evasion. Any [...]
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Asset protection is neither an organized body of law nor an established specialized practice of law, but a strategy the weaves existing legal structures and products into a cohesive framework that is designed to protect selected assets of a person from certain identified types of claims. There is no one grand method or design. The [...]
