Ultra Trust® Irrevocable Trust Asset Protection– Eligible Assets
Why the Ultra Trust® is one of the best asset protection plans? The trustee must be independent I want to talk to you about what kinds of assets can be repositioned from you, to the irrevocable trust. Your personal residence, your vacation spot, your life insurance policy , and by the way, your insurance policy, if there is any incident of ownership in your name, then it’s taxable. The Ultra Trust® will own all your assets including the insurance policy, your automobile, your residence and anything else you own of value. If you have children under the age of 18 you may run the risk of a lawsuit if your children get into an accident. You may have read about children crashing their parents’ car due to drinking. If your children crash your accident whether is was caused by drinking or not since all your children have to be is liable for the accident then you, the parent, will have to step up to the plate. You, the parent, can be liable for third-party lawsuits and all your assets are not protected and you can lose everything you’ve worked your entire life for. I’ve been there where I had to bail out for my children’s faults. I’ve walked around with an open checkbook. If the Ultra Trust® owns the motor vehicle, you can reduce the premium and possibly you will not have to buy a huge liability insurance. It’s an effective device. The Ultra Trust® can own stocks, bonds, collectibles, art, antiques, boats, planes, anything that is valuable. The Ultra Trust® can own investments. The Ultra Trust® is the only vehicle that can own Subchapter S stock. There is no other vehicle to own Sub S stock, and for major asset protection, if your Ultra Trust® owns limited liability shares, or is a partner of a partnership or family partnership, this is major asset protection. It is the Rolls Royce of asset protection. You have to go outside of the United States to get better asset protection. But, in the United States, the Ultra Trust®, if it owns a limited liability company, it is a fortress. It is about the best that you can do in the United States for asset protection. Continue to read part 6 of 11 on the Ultra Trust® benefits as one of the best irrevocable trust plans for asset protection here: Ultra Trust® Irrevocable Trust Tax Benefits Rocco Beatrice, CPA, MST, MBA, Managing Director, Estate Street Partners, LLC. Mr. Beatrice is an asset protection award winning trust and estate planning expert. Part 1 – Estate Street Partners Part 2 – What is the Ultra Trust®? Part 3 – What is a Trust? Part 4 – Asset Protection Plan Part 6 – Irrevocable Trust Tax Benefits Part 7 – What is Probate? Part 8 – What is Estate Tax? Part 9 – Medicaid Spend Down Rules Part 10 – What is the Ultra Trust®? Part 11 – Irrevocable Trust Benefits To learn more about irrevocable trusts and senior elder care visit: Medicare: elder care Asset Protection from Medicaid Hide My Assets Medicare Protect Assets Nursing Home Costs Nursing Home Spend-down Program Medicaid Estate Planning