Asset Protection Strategies that work

Assets protection is a concern for many people. We have developed a very good asset protection program that combines the features of a limited partnership with a family trust.
Clever financial planning and asset management protection strategists have learned how to combine the asset protection provisions of the family limited liability partnership agreement with the asset protection provisions of the trust, llc, or corporation. This has become a better overall financial planning and asset protection device than is the trust, corporation or llc alone. We have perfected this strategy to provide two-levels of asset protection.
Let us take an example of John Jones who wishes to place an asset (in this case, his home) in a legal status so that it cannot be seized in the event a judgment is ever levied against him. John will place his home in an ownership status which involves using both a trust and a limited partnership agreement. This provides John with two levels of asset protection.
1. First John establishes a trust.
2. Now John establishes a family limited liability partnership as his second level of protection.
3. John assigns one percent (1%) ownership of the family limited partnership to the General Manager (himself), and he assigns ninety-nine (99%) ownership to the Limited Partner (the trust). THIS IS THE KEY!
4. Now John has all of the benefits and controls concerning his home that he had before since he is the General Partner who is directed by the provisions of the limited partnership agreement to control all affairs concerning his home. He has learned that "control" provides all of the same benefits of "ownership." By placing his home in a trust, John has established a good start towards complete financial planning asset protection. He has completely protected his home from the dangers lurking out there in today's wild and woolly world.

Article Source: http://casinoarticles.us

See pdmg.net/assetprotection/

Please Rate this Article

5 out of 54 out of 53 out of 52 out of 51 out of 5 

Not yet Rated