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Revocable vs. Irrevocable Trust Advantages

Posted on: June 14, 2020 at 7:35 am, in

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Here we examine the differences of revocable vs. irrevocable trust advantages. If you reposition (transfer) your assets through the use of an IRREVOCABLE TRUST, you will no longer own them. If you don’t own assets, no one will want to sue you; no one will want to track your spending habits; no one will call you to interrupt your dinner. You don’t have to go offshore. US Laws, US courts will defend and support your asset protection system. These laws have been defined by thousands of court cases, over and over, right up to the Supreme Court. Hence, our analysis, based on court cases, revocable vs. irrevocable trust advantages. You must however, give-up control over your assets to a true independent trustee.

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Legitimate repositioning (transfer) of assets from you to an irrevocable trust is perfectly legal. The fact is, if your assets are owned by a subchapter S. Corporation or a Limited Liability Company and in turn the shares of the Sub S or membership units of the LLC are owned by an irrevocable trust, it’s the fortress of US Asset Protection. The ultimate asset protection device is the use of an offshore asset protection trust.
The following financial grid explains the major differences between revocable vs. irrevocable trusts:
Asset ProtectionABSOLUTELY NO Asset Protection. NONE. The Grantor, The Trustee, and the Beneficiary are generally the same person. The Grantor did not give-up control of the asset(s).YES. The Grantor no longer owns the assets. Assets have been transferred to the INDEPENDENT Trustee who has a fiduciary duty to manage the assets for the benefit of all beneficiaries, which may include the Grantor.
Eliminate ProbateYESYES
Eliminate Estate TaxesNOYES. Assets are not subject to the Estate Tax. The deceased did not “own” the assets or have assets in his possession at the time of his death.
Defer / Reduce Capital Gains TaxesNOYES. Assets transferred to the Trust can be structured without capital gains taxes.
Defer / Reduce Income TaxesNOYES, if combined with international structure.
Form 1040 income tax benefitsYES. You have done nothing. You still “own” the assets. All Income and Expenses flow-through to the Grantor’s form 1040.YES. If this is a Grantor-Type Trust, for income tax purposes, all income and expenses flow-through to the Grantor’s form 1040.
Comments:The Revocable Trust is designed to eliminate probate. DOES NOT eliminate estate taxes; ABSOLUTELY NO asset protection. The Revocable Trust is nothing more than an extension of your will.For asset protection purposes the trust is irrevocable. Under certain conditions, the trust can be designed to be a pass-trough trust for income taxes.

The Revocable Trust (Revocable Living Trust):

What’s wrong with a revocable trust (revocable living trust) is that the owner of the assets (the Grantor) retains too much power over the disposition of the trust assets. This direct control nullifies any defenses against potential frivolous lawsuits. His deemed control is equivalent to ownership, and if you still own the asset you are liable to lose them in a lawsuit. And if you own the asset you will incur an estate tax.
The laws of most states permit the formation of a variety of revocable trust instruments (AB “Family” Trust, QTIP Trust, Crummey Trust, Retained Interest Trusts such as GRITS, GRATs, GRUTs, and QPRT), whereby the trust creator (Grantor) contributes assets for the benefit of others to be managed by a Trustee. While it is also possible for the creator to be either the Trustee or a Beneficiary of the trust he or she has created, such dual capacities will usually destroy the trust’s ability to shelter its assets from creditors of the Grantor. When a Grantor reserves an unqualified power of revocation, he or she is deemed the absolute owner of the trust property, as far as the rights of creditors are concerned. This is true even if a Grantor of a trust does not retain a beneficial interest in the trust, but simply reserves the power to revoke it.

The Revocable vs. Irrevocable Trust Advantages:

Unlike a revocable trust (revocable living trust), assets transferred to an “irrevocable” trust cannot be changed or dissolved by the Grantor once it has been created. The Grantor no longer owns the assets. An independent Trustee is your best defense. With an independent trustee, you generally can’t remove assets, change beneficiaries, or rewrite any of the terms of the trust. An irrevocable trust is a valuable estate-planning tool. First, you transfer assets into the trust-assets you don’t mind losing control over. You may have to pay gift taxes on the value in excess of $1million of the property transferred at the time of transfer or you may be able to set-up a mock sale by using a device known as a private annuity to avoid capital gains taxes.
With an irrevocable trust, all of the property in the trust, plus all future appreciation on the property, is out of your taxable estate. That means your ultimate estate tax liability may be less, resulting in a more tax efficient way to transfer your accumulated wealth to your beneficiaries. Property transferred to your beneficiaries through an irrevocable trust will also avoid probate. As a bonus, property in an irrevocable trust may be protected from your creditors. Of late this irrevocable trust device is being utilized by many planners for avoiding the Medicare nursing home spend-down provisions whereby if the elderly has to enter a nursing home he must first spend all his money until he does not have any money left.

Revocable vs. Irrevocable Trust Advantages

Independent Trustee:

A quick word about the independent trustee: most people don’t like to give up control over their assets because of their perceived notion that giving up control is equivalent to leaving the wolf in charge of the hen house. The law imposes strict obligations and rules on trustees including a duty to account for any benefits the trustee may have gained directly or indirectly from a trust. This goes beyond fraudulent abuse of position by a trustee.
The courts regard a trust as creating a special relationship which places serious and onerous obligations on the trustees. The law regards the special “Fiduciary” relationship of a trust as imposing stringent duties and liabilities on the person in whom confidence is placed – the trustees – in order to prevent possible abuse of that confidence results in a major difference in the revocable vs. irrevocable trust advantages. A trustee is therefore subject to the following rules:
  • No private advantage – A trustee is not permitted to use or deal with trust property for direct or indirect private advantages. If necessary the court will hold him personally liable to account for any profits made in breach of this obligation.
  • Best interests of beneficiaries – Trustees must exercise all their powers in the best interests of the beneficiaries of the trust.
  • Act prudently – Whether or not a trustee is remunerated he must act prudently in the management of trust property and will be liable for breach of trust if, by failing to exercise proper care, the trust fund suffers loss. In the case of a professional, the standard of care which the law imposes is higher. Failure to exercise the requisite level of care will constitute a breach of trust for which the trustee will be liable to compensate the beneficiaries. This duty can extend to supervising the activities of a company in which the trustees hold a controlling interest.

Revocable vs. Irrevocable Trust Advantages: The Legal safeguard of an irrevocable trust:

In cases of substantial assets, you may add one other safety measure, “the Trust Protector.” The trust protector’s sole function is to hire and fire trustees, at will and without explanation. We use limits on how much a trustee can be authorized to spend without a second signature.

Protect your assets for yourself and your children and beneficiaries and save on tax dollars and learn the revocable vs. irrevocable trust advantages. Assets can be protected from frivolous lawsuits while eliminating your estate taxes and probate, and also ensuring superior Medicaid asset protection for both parents and children with our Premium UltraTrust® Irrevocable Trust. Call today at (888) 938-5872 for a free consultation and to learn more.
Top 6 Reasons Why Ultra Trust® Offers Superior Benefits of any Irrevocable Trust

15 Things to consider when creating a trust

Posted on: April 8, 2020 at 1:06 am, in

In the realm of financial planning, creating a trust can be one of the most important steps in terms of achieving solid asset protection and designing an adequate estate plan. Creating a trust does not have to be a difficult process, but it does require thoughtful consideration and planning.
creating a trust for family: grandparents with grandson and granddaughter.
Choose the right legal or financial professional to create your trust for your family
Most individuals, and even most estate planning attorney’s unfortunately, are not familiar with trust law and how statutes can affect estate planning across different jurisdictions. It is unreasonable to expect someone who is not a legal or financial professional to be able to easily understand how to create a trust; however, certain key aspects of creating a trust can be sufficiently learned so that a do-it-yourself option becomes available.
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The following 15 key points are of the essence when creating a trust. Once this information is fully understood, potential grantors will understand how to create a trust to the point that they can begin the process of setting one up by themselves.

1 – The Need and Purpose of Creating a Trust

Trusts were created when the Renaissance period reached the nascent common law system of the English royal court. These legal instruments were born out of an important necessity: when English knights marched across Europe as Crusaders, they conveyed property ownership to individuals whom they trusted to handle affairs such as managing land, paying feudal dues, etc. If the knight did not return to England after a battle, the terms of the trust would establish that the estate would transfer to beneficiaries, who were usually the spouse and children. In the absence of a trust, the Crown would simply claim royal rights over the deceased knight’s property, often leaving his surviving spouse and family penniless.
making a trust for Asset protection is like a puzzle
Good asset protection is like a puzzle placing together the right pieces in the right place
The historic needs of trusts have not changed. They are still legal documents that establish a fiduciary relationship whereby personal ownership of assets is relinquished and the property is transferred so that it can be managed by a trustee for the benefit of others.
The modern purposes of trusts are: asset protection, wealth management, avoiding probate, Medicaid planning, and estate planning. Individuals and couples whose assets including real estate are worth more than $100,000 should consider creating a trust for their own benefit and to protect the financial futures of their loved ones.

2 – The Laws and Rules Governing Trusts

In the United States, trusts fall under the laws of property, which can be different from one state to another. The most important aspects of trusts that can differ from one state to another are: validity, construction and administration. Validity deals with state-specific laws and rules that may render a trust invalid from one jurisdiction to another. For example, at one point many states adopted a rule against perpetuity, which is intended to prevent legal instruments from placing restrictions on property for too long; however, states such as Florida allows property interest that is non-vested in a trust to remain for 360 years instead of the suggested uniformity of 21 to 90 years.
Although there seems a fair amount of uniformity in terms of the laws that govern probate, wills and trusts across all states, it is imperative that individuals who set up a trust in one state to draft new documents when they move to another state or make sure that your trust is amendable to change the situs. Once someone learns how to create a trust, the second time around will be substantially easier.

3 – Parties to a Trust

Trusts are legal relationships that require at least three parties: grantor (also known as settlor), trustee and beneficiary. Each of these parties can be represented in plurality, which means that there can be more than one grantor, trustee, and beneficiary.
When learning about how to create a trust, the grantor must assume a decision-making role that includes certain responsibilities such as choosing the type of trust, appointing the trustee, naming the beneficiaries, relinquishing property, and transferring the assets into the trust. Depending on the type of trust and the way the assets are transferred, the grantor may incur into gift taxes; nonetheless, skilled trust advisors can come up with a strategy that can alleviate this financial burden even if your estate exceeds the federal limits for a gift exemption. The role of the grantor is pretty much completed after the assets are transferred and the trust papers are properly filed and settled.
The trustee is the party that takes over the management of the trust. The duties and responsibilities of the trustees are defined by the grantor during the construction of the trust. In some cases, grantors initially serve as trustees until they appoint someone else; some individual grantors set up their trusts in a way that will appoint a trustee only when they become unable to assume management.
The beneficiaries are the parties who are named to eventually receive the benefits of the assets in trust contingent on a trigger event – usually the death of the grantor(s). Beneficiaries also have duties and responsibilities: they may have to pay taxes based on the assets they receive as benefits, and they are also responsible for requesting an audit the work of the trustee to ensure that the trust is being managed in accordance to the law and to the wishes of the grantor.

4 – How Creating a Trust Can Help a Family

In every trust, there is an implied desire of keeping property and assets safe for the benefit of families. This implied desire is the historic factor that prompted the creation of trusts in the first place.
how to create a trust and structure your family trust properly: married couple with son and grandparents
Structure your family trust properly so conditions can be placed on distribution of assets when someone passes away
Trusts can be structured in ways that serve the interests of individuals who can be grantors, serve as trustees and also become beneficiaries; notwithstanding this asset protection strategy, creating a trust is something that is more commonly associated with effective financial planning for families.
With a properly structured family trust, conditions can be placed on the distribution of assets when someone passes away. Gift and estate taxation can be reduced or eliminated, and family affairs can be kept away from public scrutiny by means of skipping probate court proceedings. Family fortunes can be protected from lawsuits and overzealous creditors, and trustees can be appointed with the understanding that they must adhere to the terms of the trust and help to make it grow.

5 – Creating a Trust With a Do-It-Yourself (DIY) Platform

Asset protection and wealth preservation are part of an industry that generates billions of dollars in administration fees each year. Attorneys and CPA firms that offer trust creation services often charge hefty fees their planning expertise. As a result, many individuals and families shy away from setting up trusts to protect wealth that they have worked hard to accumulate over several decades.
Although there is a certain amount of complexity involved in the creation of an effective trust that can provide solid asset protection and efficient estate planning, there is also a several DIY approaches that take each step into account making it easy that prospective grantors can take advantage of.
DIY trusts are the result of advances in software and database technology and are so sophisticated and accurate today, that even most attorneys use them for their clients trusts. Using an online platform that presents grantors with questionnaires about their finances, civil status and estate planning goals. The questions are related to the 15 key points discussed herein; once all the answers have been provided and the questionnaire is completed, two reviews take place. One review is automatically conducted by the software; the other review is conducted by seasoned professionals with years of experience in creating trusts. Once the correct documents are drafted, they are sent to the grantor for execution accompanied with instructions and guidance.
Once prospective grantors become familiar with the 15 key points presented in this article, going through the DIY process of creating an irrevocable trust or creating a living trust becomes a task that is not only easy to manage, but also beneficial in terms of avoiding considerable legal fees. This is one of the greatest advantages for those who learn how to create a trust.

6 – Choosing the Trustee

Proper selection of a trustee is crucial when creating a trust. Some individuals who choose a living trust as an instrument primarily for asset protection and not so much for estate planning may be tempted to serve as grantors, trustees and beneficiaries, but there some caveats in this regard. A similar situation arises in family trusts, whereby parents may want to automatically choose their oldest child to serve as trustee.
The choice of trustee should take into account a few factors: knowledge, experience, potential conflict of interest, access to the assets, management abilities, cost, and relationship. Grantors are likely to immediately think about appointing relatives as trustees because they feel that they can trust them to manage their assets and handle their financial affairs, but this could be a problem insofar as creating a burden for a trustee who has his own family and work responsibilities.
Independent trustees should always be preferred because they fulfill the aforementioned factors and they create a fiduciary duty which is golden in the eyes of a court. Fiduciary duty is synonymous with a legal obligation to protect the assets. A CPA, for example, is a professional under the oversight of a state regulator. Appointing a CPA to handle trustee duties is the best course of action for grantors who believe that appointing multiple trustees is a wise choice. While there are no limits with regard to whom you choose or the number of trustees who may be appointed, the conflict of interest factor is amplified with the presence of more individuals acting in a fiduciary capacity.
If for some reason the grantor feels that he or she must appoint various trustees, a trust protector provision may be included to ensure that potential conflicts between trustees can be quickly resolved.

7 – Creating a Trust with a Trust Protector

Grantors who choose to appoint an independent trustee such as a CPA, friend, in-law, or lawyer do not have to worry about completely and permanently ceding all control of the assets and property transferred to the trust. Within the trust contract, a trust protector provision can assign powers to an individual or an entity for the purpose of replacing the trustee as needed.
The trust protector strategy began being used by asset protection lawyers that operate in offshore financial havens such as the Cayman Islands, Cook Islands, and other jurisdictions and has since been implemented into the better domestic trusts. The trust protector provision used by offshore havens allows someone in the United States, for example, to
Prospective grantors in the United States do not have to go offshore for the purpose of strong asset protection. A handful of states recognize that trustees and trust protectors can coexist within a fiduciary agreement. One such state is Delaware, where an individual or entity serving in this capacity is called an adviser under section 3313 of the Delaware Code.
The powers that can be assigned to a trust protector may include: the ability to replace trustees as needed, the right to control spending, the power to veto distributions, and the ability to step in whenever a conflict between trustees arises.

8 – Revocable vs. Irrevocable Trusts

Of all the legal strategies that can be applied when creating a trust, the most important to understand is the difference between revocable and irrevocable trusts.

Watch the video on revocable trusts vs irrevocable trusts
Revocable trusts are designed to give grantors an opportunity to easily undo the terms of the agreement so that they can retain control and ownership over their assets. Revocable trusts can also be modified at will by grantors.
Irrevocable trusts are designed to give grantors maximum benefits in terms of asset protection, estate planning, tax advantages, Medicaid planning, and others. Unlike revocable trusts, grantors do not retain ownership or control of assets held in irrevocable trusts, and the terms cannot be modified as easily.
Generally speaking, irrevocable trusts are the better choice for individuals and for families, and they can be set up on DIY basis.

9 – Married Couples and Trusts

Couples who are either legally married or who live together under the terms of a common law marriage or civil union can draft trust agreements that reflect their lifestyle and their financial goals. To this effect, a joint irrevocable trust can be created to meet the needs of most couples. In such case, one or both spouses act as the grantor, but each spouse can designate beneficiaries who can receive a share of property owned in common.
The terms that govern the property held in a joint trust can be dictated by both spouses. The estate planning benefit, when one spouse dies, the assets and property remain in trust for the enjoyment of the benefits. A provision can be included in the trust for the purpose of a final distribution to take place once both spouses pass away.
Preplan a divorce with prenuptial agreements: husband and wife in bed with wife in distress
You can preplan a marriage with a prenuptial agreement
Individual trusts can also be created by married couples who wish to keep their property separate. Reasons for doing this include: second marriages and the desire to not cede control of assets and property to a spouse. Couples who are engaged and wish to keep their property separate throughout their union can also set up individual an irrevocable trust vs a Prenup which work 100% of the time in divorce situation whereas a prenup usually creates more problems than it solves; there is nothing more romantic than asking your wife to preplan a divorce with a prenup before you commit to spending the rest of your life together.

10 – Naming Beneficiaries and Distributing Benefits

Creating a trust is something that is done for the benefit of others, who are usually spouses, children, and relatives; these are the beneficiaries. By creating a trust, grantors have certain advantages and can even create incentives with regard to financial planning for children and minor beneficiaries.
One common concern among grantors as they grow older is whether their children and grandchildren could be negatively affected when they inherit a substantial amount of money. When it comes to beneficiaries who are minors, a trust allows grantors to specify those incentives and conditions that must be met before the trustee can make a distribution. Age is an example of a broad condition; in these cases, a minor must reach certain ages before distributions are made. An incentive would be a specific condition, which could be graduating from high school or from college to encourage that beneficiaries pursue education or careers.
Avoiding lump sum inheritances that may be squandered by potentially not-yet-mature beneficiaries is a popular and wise provision among trust grantors in the United States.
Guardians can also be nominated for minor beneficiaries when creating an irrevocable trust, and this is a designation that should also be made in a will.

11 – Exclusions from a Trust

When learning how to create a trust, prospective grantors must think about every angle that could apply in terms of estate planning and distribution of wealth over the next 50 years. One particular angle that certainly merits careful thought is not so much who will be the beneficiaries; it is important to think about who must be specifically left out of the trust.
Similar to leaving people out of a will or disinheriting someone, a trust can be set up in a discretionary manner so as to designate who should really benefit from the estate and who shouldn’t. Exclusions can be specified in DIY trusts, but they must not run afoul of provisions against disinheritance in certain states.

12 – Depositing Assets in Trust

Transferring assets into a trust is known as “funding the trust.” Just about any type of asset or property can be transferred to an irrevocable trust, and this includes personal and business assets. Cash, life insurance policies, investment accounts, precious metals, and even companies can be transferred, but grantors should keep in mind that they are ceding ownership to the trust, which means that business and investment decisions will be made by the trustee after consulting with their financial advisor, you.
A trust can have a home with a mortgage charged against it: Creating a trust
A trust can have a home even though a mortgage is charged against it
With regard to real estate, if the property is shared with a business partner in what is known as a tenancy-in-common agreement, your equity share can be deposited into the trust. Personal checking accounts, everyday vehicles that have no luxury or collectible value, 401(k) and retirement accounts, and assets that are not really valuable typically are left out of the trust.
If your home has a mortgage, it can still be added to the trust and, due to the St. Germain Act of 1982, the bank cannot call your loan due or accelerate your payment schedule with them. If you stop paying your mortgage, however, they can still foreclose on the home because they are still the first lien-holder. What they cannot do is go after other real estate or assets that are properly put into the trust.

13 – Jurisdiction and Venue

When choosing the state where the trust will be created, it is important to know about the applicable statutory provisions; this is known as the trust situs. The significance of choosing the trust situs cannot be ignored, and this was something that was partially discussed in the second point of this article with regard to the rule against perpetuities. Some states offer stronger asset protection than others; however, when real estate property will be transferred into the trust, the trust situs should be the same state where the real estate assets are located.
This means people with a summer home in Michigan or a winter home in Florida and Colorado, will likely need to set up more than one trust.

14 – Reasons for Creating a Trust

Protect your assets before entering into a nursing home: ill husband in bed with wife nursing him
Protect your assets before entering into a nursing home
Learning how to create a trust is mostly a matter of function; understanding the reasons for creating a trust and how financial goals will be achieved takes more thought and consideration. When the goals are clearly defined, drafting the trust agreement is easier.
The most common goals chosen by trust grantors include: passing wealth efficiently by avoiding the probate process, reducing estate taxation, preserving assets for charities, retaining control over wealth distribution, and protecting assets by keeping them within the family instead of a creditor or nursing home.

15 – Building a Legacy With Trusts

Irrevocable trust asset protection schematic diagram of the different types of relationships involved
An irrevocable trust asset protection diagram of the different types of relationships involved. (Click the above diagram to enlarge)
At some point in life, prospective trust grantors shift their focus from wealth creation to wealth preservation. Trusts are not merely for estate planning; they can be used in life to structure distributions to minors as they grow older and start building their lives, or they can also be used to alleviate tax burdens so that gifting to charities can be conducted for maximum benefit.
A properly managed trust can help to build a legacy by providing business continuity over a family fortune across generations. This is how a legacy can be built; financial success does not have to always live in the present, it can also be preserved and protected so that a family can always enjoy its benefits.

We look forward to our visit with you and your professional representatives to assist you with the advancement of your estate planning.
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Rocco Beatrice, CPA (Certified Public Accountant), MST (Master of Science in Taxation), MBA (Master of Business Administration), CWPP (Certified Wealth Protection Planner), CAPP (Certified Asset Protection Planner), CMP (Certified Medicaid Planner), MMB (Master Mortgage Broker)
Managing Director, Estate Street Partners, LLC
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This statement is required by IRS regulations (31 CFR Part 10, 10.35): Circular 230 disclaimer: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Top 10 Things to Do When Being Sued

Posted on: April 6, 2020 at 4:43 am, in

The threat of a lawsuit, or the prospect of litigation, sends most people into an emotional state somewhere between panic and outrage, especially if that person hasn’t protected their assets ahead of time. Running a business or getting through the daily routines of personal life can be overwhelming without the added stress of a process server, marshal or sheriff coming to your home or office with a summons and complaint.
Most people have never been involved in a lawsuit, so seeing your name or the name of your business in the caption followed by the word “DEFENDANT” can be unsettling. There are ten things you should know about lawsuits that will help you make the right decisions once the process server leaves.

1. It will not go away on its own. Lawsuits must be taken seriously.

Regardless of how frivolous or inconsequential the lawsuit might seem to be, ignoring it can have serious consequences. Failing to file a formal, written answer to the allegations contained in the lawsuit can result in a default judgment against you in favor of the opposing party. A default judgment means potentially your plaintiff can go to your bank and freeze your account or go to the registry and put a lien on your home or rental property. You won’t find out about it until checks start to bounce and you “swear there was at least $10,000 in that account.”

2. That ticking sound is a clock.

The defendant in a lawsuit must file a formal answer or make a motion within a limited period of time that is set by the laws in each jurisdiction. Getting angry and tossing the lawsuit papers into a corner in your home or office to be dealt with later is a mistake. Some states limit the time to submit an answer to just 20 days or less from the date the defendant is served.

3. I can do this without a lawyer.

Without getting into all of the reasons why representing yourself in a lawsuit is a mistake, and there are many, be aware that the laws in some states, such as New York, require that an attorney appear on behalf of a corporation that is a defendant in a lawsuit. Yes, lawyers cost money that most people or small businesses cannot readily afford, but lawyers know the defenses allowed under the law and the procedures that to follow to avoid a costly errors.

4. Choose a lawyer you can depend upon.

If you are using an attorney for the first time, make certain your lawyer is familiar with the issues raised in the lawsuit. Attorney’s today are as specialized as doctors; one does not go to a brain surgeon to fix a broken leg. Ask the lawyer how many lawsuits like yours he has taken to verdict. Lawyers who settle most of the cases they handle might be good negotiators, but you also want to know that the attorney you choose can handle a trial if one is necessary.

5. Be honest with your lawyer.

The second worst mistake you can make is to attempt to defend a lawsuit without having legal representation. The worst mistake is having an attorney but failing to disclose all the facts in an honest and forthright manner. The lawyer you hire is on your side regardless of how good or how bad the facts and the evidence make you look. Lying to your lawyer, or withholding information because it portrays you in a bad light, will make it difficult for your lawyer to represent you and often times you are doing yourself a disservice because when that information you are hiding comes out in court, your lawyer will be caught off guard with no strong, well-thought out response.

6. Don’t ignore insurance options.

Some types of insurance policies provide coverage in the event of a lawsuit. Automobile insurance or homeowners insurance are two policies with which most people are familiar, but there are other types of insurance, such as malpractice or errors and omissions policies that provide coverage in the event of a lawsuit. In most instances, the insurance company will take the lead, pay for your defense, and often times negotiate a settlement.

7. Listen to the expert you hired.

You are paying your lawyer to give you expert legal guidance, but the money is wasted unless you listen and heed the advice that is given to you. Telling your lawyer how you think your lawsuit should be handled ignores the fact that your handling of the situation is probably what got you into a lawsuit in the first place.

8. Fighting over principle can get expensive and distracting.

Whether you are the defendant being sued or the plaintiff who started the lawsuit, at some point you have to consider exactly what it is that you are fighting about. Does defending or prosecuting the lawsuit make sense economically? If you find yourself spending large sums of money on legal fees, court costs and related expenses that will exceed the amount you will recover if you win, it is probably time to reevaluate your position. Perhaps it is time to stop fighting and consider a negotiated settlement to put an end to the litigation. A lawsuit that goes to trial can easily cost $100,000-200,000. Imagine trying to run your business with a lawsuit hanging over your head for 3 years. The stress distracts you from positive things like growing your business.

9. Don’t assume your legal expenses will be paid by your opponent.

Absent an agreement, such as a contract or a law requiring the losing party in a lawsuit to pay the other party’s legal fees, the parties are responsible for their own costs of defending or prosecuting a lawsuit in the United States. Even if you have a contract that states the loser in a dispute will pay legal fees, it is rare that courts award full legal fees.

10. Expect to be in it for the long haul.

People want lawsuits to end quickly so they can go about their normal lives and business, but answers, counterclaims, motions and discovery can take months or, sometimes, years to complete. Lawsuits begin with a flurry of activity that dies down as the case progresses beyond the initial pleadings establishing each party’s position. The pace picks up again months later as each side engages in depositions and other discovery procedures. Patience and trusting in your legal representation are keys to lawsuit success.

Bonus Tip: When You are Being Sued

Evaluate your options. Most lawyers will tell you that you cannot take action to protect assets once you know there might be a lawsuit coming. Most lawyers tell you this because they don’t fully understand fraudulent conveyance and how to manage the resulting 4-5 years statute of limitations on asset transfers. If there is an opportunity to make it difficult for someone to sue you – even late in the game – it could put you in a position to negotiate with your attacker and thus minimize the pain, stress, costs, and distraction that a lawsuit can bring.

LLC Lawsuit Protection: 8 Case Studies

Posted on: March 5, 2020 at 3:18 am, in

Many business owners believe that they can simply incorporate their businesses into an Limited Liability Company (aka LLC) and they’ll achieve LLC lawsuit protection for their personal assets. However, that is an extreme oversimplification of the law and at the core of misleading consumers by the “LLC farms” out there. Lawyers should know that if a corporation or LLC owes a client money, they are allowed to sue the owners, asking the judge to pierce the corporate veil. Studies have shown that American courts disregard the corporate entity to hold shareholders liable for corporate debts in nearly 50% of cases.
As one Illinois Court noted, piercing the corporate veil is both the number one issue that arises in business litigation lawsuits and one frequently misunderstood. If business owners are not meticulous in following corporate formalities, they could find himself forfeiting corporate protection.
Piercing the corporate veil means that a judge may reach beyond the protection provided by the corporate form to hold a business owner personally liable for the company’s debts. There are two common reasons that this happens: under-capitalization and commingling of corporate assets.
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If a person starts a business that is likely to incur a significant debts, such as a real estate company, but does not secure adequate insurance or provide funding to pay possible claims against the company, a judge may find that the corporate shareholders are personally liable on the debt resulting in the lack of LLC lawsuit protection. Under-capitalization will most likely lead to veil piercing when it is combined with the failure to observe corporate formalities. To receive protection, a company must hold shareholder meetings and keep minutes. It must have business bank accounts used for business purposes only. Shareholders must not use personal accounts to make business purchases or vice versa.
One of the reasons that piercing the corporate veil is so dangerous for owners is that it does not attach percentages of liability based on a person’s individual wrongdoing. If corporate formalities are not observed and the veil is pierced, the law treats the corporation or LLC like a partnership. That means all shareholders will be jointly and severally liable on the total debt, even a person who owns merely a single share. The plaintiff can choose to sue whichever shareholder has assets.
A cause of action to pierce the corporate veil is not a new lawsuit. The defendants do not have the ability to attack the underlying allegations in the case against the business, even if the business would have had a viable defense. Piercing the corporate veil is a way of imposing liability for an existing judgment against the business on the owners. Thus, an owner who chooses not to defend a case brought against the company because it is incorporated may come to regret that decision later.
The best way for an individual to ensure that his or her assets are protected is to maintain control rather than ownership. Assets that are owned may be seized by creditors, even a person believes they are protected through the formation of an LLC or corporation. Even funds in a revocable trust do not have protection: If the trust may be revoked by the individual who created it, the assets within may be taken by creditors. Only a properly drafted, executed, and funded irrevocable trust provides 100% asset protection.
When a Grantor establishes an irrevocable trust, he transfers ownership of the assets into the trust. A trustee will invest and distribute the assets in accordance with instructions provided by the trust documents. Income generated by irrevocable trusts may provide income to the Grantor, but the Grantor doesn’t own the assets. Subject to Medicare’s five year “look back” period, property held in an irrevocable trust may not be used to satisfy a judgment against the grantor or against the trust beneficiaries.
Below are actual court cases from all over the country highlighting these facts:

LLC Lawsuit Protection Expert - Rocco Beatrice

1) LLC Lawsuit Protection Case: Peetoom v. Swanson, 630 N.E.2d 1054 (Ill. Ct. App. 2000):

The Illinois Court of Appeals applied the concept of piercing the corporate veil to a personal injury case where the plaintiff, Peetom, fell and injured himself while walking on The Swanson Group’s parking lot. She filed a lawsuit for her hospital bills and pain and suffering, and her husband filed a loss of consortium claim arising out of the accident. The trial court judge entered a default judgment against The Swanson Group in 1997. Approximately one year later, the company was dissolved by the Secretary of State for failure to comply with taxation and annual report requirements. The plaintiffs later filed an action against The Swanson Group’s owners as individuals.
The defendants argued that the two year statute of limitations for bringing a personal injury action had expired and therefore, they could not be liable. The original injury occurred on January 20, 1993. The lawsuit against The Swanson Group was filed on January 11, 1995, shortly before the statute of limitations expired. However, the suit against the owners was not filed until September 2000. The trial court granted the defendants’ motion to dismiss, but the plaintiffs appealed.
The Court of Appeals explained that piercing the corporate veil is not a cause of action like negligence, and therefore is not subject to the same statute of limitations. Piercing the corporate veil is an equitable remedy, a way of imposing liability on corporate shareholders for fraud or injustice that the corporation allowed or caused. As such, the action could be brought within five years after the corporation was dissolved, as provided by Illinois law on shareholder liability for defunct corporations. Neither the corporate form nor the fact that the defendants were not named in the original lawsuit protected them, thus resulting a failure of LLC lawsuit protection.

2) LLC Lawsuit Protection Case: Las Palmas Assocs. v. Las Palmas Ctr. Assocs.

Las Palmas Assocs. v. Las Palmas Ctr. Assocs., 1 Cal. Rptr. 2d 301(1991): A California Court of Appeals extended the concept of piercing the corporate veil to sister corporations owned by the same parent company. The case arose out of the sale of a large commercial shopping complex.
The contract stated that 84 percent of the complex would belong to Villa Pacific Business Company and the remaining 16 percent belonged to Gribble, president of Hahn Devcorp. Devcorp was a wholly owned subsidiary of Earnest W. Hahn, Inc. Several years later, both companies merged into subsidiaries of the same parent company. The same two individuals sat on the board of directors of both Hahn and Devcorp. By 1983, Hahn’s staff conducted business for Devcorp, leaving Devcorp a shell of a corporation. All of Devcorp’s assets had been liquidated, and all employees and directors fired. At trial, Hahn’s value was more than one hundred times that of Devcorp. The jury found that Devcorp was an alterego of Hahn and, as a result, Hahn should be liable for Devcorp’s debts.
The public policy behind allowing courts to pierce the corporate veil is that, in a situation where there is so much unity in ownership and interest between the company and the owner that the two are not really separate legal entities, it is not fair for the owner to avoid liability. These same principles apply when the owner of a corporation is another corporation. The court noted that there are many situations where a corporate entity is disregarded, and a corporation is treated as merely part of the parent corporation. In these cases, it is only equitable that veil piercing be allowed, thus resulting a failure of LLC lawsuit protection. The same line of thinking applies to two subsidiaries controlled by the same parent, if that parent company does not observe corporate formalities.

3) LLC Lawsuit Protection Case: Agai v Diontech Consulting

Agai v Diontech Consulting, Inc., 2013 NY Slip Op 51345(U): In this NY Supreme Court case, the defendants were not shareholders of the company in question, Diontech Consulting, Inc. However, they ran the company for their own gain, so it would not be fair to allow them to benefit from hiding behind the corporate form. The judge pierced the corporate veil and imposed liability.
The undisputed evidence showed that the defendants did not observe any corporate formalities in running Diontech. Two of the three, the Antoniou brothers, admitted being unaware of any records or books showing corporate operations. They could not produce any board meeting minutes, pay stubs, bank account statements, or other documentation showing the company’s existence as a separate entity. The brothers commingled business assets with personal funds and used the corporate bank accounts for personal expenses. Both brothers were paid for assisting in settling corporate affairs when Diontech was dissolved, yet both claimed no knowledge of what happened to the corporate assets, including vehicles, furniture, and computers. An accountant for the firm testified that all three defendants routinely took money from the corporate bank account and did not pay it back. No tax return was filed for Diontech because the defendants never provided the required documentation. The evidence suggested that Diontech was a sham corporation, created for the sole purpose of avoiding legal liability.
The standard in New York for piercing the corporate veil whether an individual hid behind a corporation to perpetuate an unjust or wrongful act against the plaintiff. The judge found that the defendants used Diontech to avoid paying creditors. The principals here used the plaintiff’s payments to Diontech and materials purchased for the plaintiff’s job to work on other projects. As a result, it would be unjust not to hold them liable, thus resulting a failure of LLC lawsuit protection.

4) Ted Harrison Oil Company v. Dokka

Ted Harrison Oil Company v. Dokka, 617 N.E.2d 898 (1993): An Illinois Court of Appeals found that incorporation did not protect the assets of a company owner who followed no corporate formalities and treated the company as an extension of himself. Ted Harrison Oil Company (“Harrison”) filed a lawsuit asking the judge to hold Dokka personally liable for a debt owed to him by Dokka’s company, Hess Tire. Dokka purchased all shares of Hess Tire in 1972. He later sold shares to two investors, but never created or printed stock certificates. The company was initially profitable but lost a significant amount of money between 1972 and 1981.
A review of the corporate books showed no shareholder meeting minutes, although Dokka claimed the shareholders met and were involved in the business. Hess Tire operated in a building personally owned by Dokka and paid no rent. A corporate account paid property taxes for the building. Dokka even admitted that he did not follow corporate formalities. The company’s bookkeeper testified that another shareholder, Walden, had her write checks to herself on the business accounts, which Walden cashed, keeping the money. Dokka testified that there was no business purpose for these checks or other loans and bonuses paid to Walden. Walden moved tires from Hess Tire’s inventory into storage to avoid paying creditors. Although Dokka claimed no knowledge of Walden’s activities, the Appeals Court pointed out that the deception would have been uncovered sooner if corporate formalities had been followed. Since Dokka did not treat Hess Tire as a separate business entity, he was not entitled to the protection of incorporation laws. The court held Dokka responsible for Hess Tire’s debt to the plaintiff, thus resulting a failure of LLC lawsuit protection.

5) Buckley v. Abuzir

Buckley v. Abuzir, 2014 IL App (1st) 130469: Plaintiffs John Buckley and Mama Gramm’s Bakery, Inc. won a case against Silver Fox Pastries, Inc. for violation of The Illinois Trade Secrets Act. After they realized that they were not able to collect the judgment from Silver Fox, which had no assets, the plaintiffs asked a judge to pierce the corporate veil and enter a judgment against the owner, Haitham Abuzir. Although the trial court dismissed the Complaint, on appeal, the Illinois Court of Appeals reversed, finding that the plaintiffs had alleged sufficient facts to allow the trial court to pierce the corporate veil.
After incorporated, Silver Fox never filed an annual report with the Secretary of State. It had no directors, no officers, no corporate records, and no corporate books. The company never held a shareholder or director meeting. No stock was issued, and no dividends paid. Silver Fox never made any payments on loans granted to it, and at no time had assets exceeding its debts. No corporate formalities were ever observed. On the other hand, Abuzir ran Silver Fox, maintaining 100% control over the company. Abuzir did not dispute the plaintiffs’ allegation that he and Silver Fox were, in effect, the same entity. Instead, he claimed that the corporate veil could not be pierced because he was not an officer, director, employee, or shareholder of the corporation.
After reviewing the law in other states, the Court concluded that stock ownership was not required to pierce the corporate veil. A person who exercises considerable authority over a company may be legally considered the equitable owner and, therefore, a judge can pierce the corporate veil to hold that person liable for corporate debts. Abuzir could not avoid liability by refusing to appoint himself as director or officer and failing to issue himself stock, thus resulting a failure of LLC lawsuit protection.

6) Associated Vendors, Inc. v. Oakland Meat Co.

Associated Vendors, Inc. v. Oakland Meat Co., 210 Cal.App.2d 825 (1962): A California appellate court found that a person could be held personally liable for corporate debts when the corporation was merely the “alter ego” of the individual. The case arose out of a commercial lease between Associated Vendors, Inc. (“Associated”) and Oakland Meat Company (“Meat”). and Oakland Packing Company (“Packing”). After Meat leased the premises in question from Associated, the company turned around and leased it to Packing for only a portion of the rent they had agreed to pay Associated. Associated asked the judge to hold the owner of the companies responsible for the debt owed, based on the fact that the corporations were alter egos of the owner and not treated as separate legal entities.
The company’s owner, Zaharis, loaned personal funds to Packing without a first holding a corporate meeting or requesting a shareholder vote. When it was time for the loan to be repaid, Meat issued a loan to Packing, and the funds were transferred to Zaharis. Meat applied for and received business permits used by Packing. Zaharis and Meat’s two other officers worked for Packing without receiving compensation; however, Meat continued to pay their salaries. The lawyer who negotiated the commercial lease testified that he was unaware that Meat and Packing were separate companies. A butcher who delivered products to Packing was told to bill Meat instead. Invoices sent to Meat were paid by Packing and vice versa. Several other vendors that did business with both corporations testified they were unaware that Meat and Packing were two separate legal entities. Because the directors commingled assets, did not observe corporate formalities such as holding meetings and keeping minutes, and they treated the companies as one, the court held that the owners were personally liable for the corporations’ debts.

7) Kinney Shoe Corp. v. Polan

Kinney Shoe Corp. v. Polan, 939 F.2d 209 (4th Cir. 1991): The United States Fourth Circuit Court of Appeals found that the business owner, Polan, was responsible for paying a corporate lease entered into on behalf of his company.
In November 1984, Polan filed paperwork with the Secretary of State to create Polan Industries, Inc. He incorporated Industrial one month later. Neither corporation elected any officers, held organizational meetings, or issued a single share of stock. Both corporations were created for the same purpose.
Shortly after the first business was established, Polan began negotiations with Kinney Shoe Corp. to sublease a building owned by a third party. Although the parties signed the sublease in April 1985, their actual agreement started in December 1984. Ten days after the sublease with Kinney was signed, Industrial subleased half of the property to Polan Industries. Polan signed the sublease on behalf of both corporations.
Industrial owned no assets other than the sublease, not even a bank account. The corporation had no income, other than the payments Polan Industries owed under the sublease. When the first lease payment to Kinney became due, Polan issued a check on his personal bank account. This first payment was the only one Kinney received from either company. In 1987, after receiving no further payments, Kinney sued Industrial and obtained a judgment of more than $166,000. Kinney then sued Polan personally to collect its judgment. Despite the long-established rule that the stockholders are not responsible for corporate debts, the Court held that it was appropriate to reach beyond the corporate veil and hold Polan personally liable for the judgment against Industrial because Polan did not follow corporate formalities. Thus, the corporate veil did not protect Polan’s personal assets and the Court upheld the judgment against Polan, thus resulting a failure of LLC lawsuit protection.

8) Minnesota Mining & Manufacturing Co. v. Superior Court

Minnesota Mining & Manufacturing Co. v. Superior Court, 206 Cal. App. 3d 1027 (1988): The California Court of Appeals held a shareholder responsible for paying a corporate debt after they pierced the corporate veil, even though the company had other shareholders. The case also clarified that, when the corporate veil is pierced, a shareholder may be held liable for one hundred percent of the debt, not a percentage equal to his proportionate share in the company, even if he owns only one share of stock.
Maximum Technology (“MaxiTech”) sued several defendants, including Minnesota Mining and Robert Schwartz for more than $2 million. Schwartz and MaxiTech settled their claims for only $20,000, and Minnesota Mining filed a suit after the judge appealed the settlement. The settlement was based on the erroneous conclusion that Schwartz, as a 40 percent owner of one of the companies being sued, was only responsible for paying 40 percent of that company’s liability if the corporate veil was pierced. However, that is not how the law works. If a company forfeits the protection of the corporate veil by not observing corporate formalities, all owners become jointly and severally liable for corporate debts, as if the business had never incorporated. It is not relevant whether a shareholder owns one share of a company in that scenario or all but one. In this particular scenario where only two of the company’s three shareholders were sued, the two of them would have to bear the burden of the entire corporate debt. As a result, the settlement agreement was based on a faulty assumption of law and could not have been found to have been negotiated in good faith, and Schwartz not only lost the benefit of the corporate veil, but also the advantageous settlement he negotiated.
Protect your assets for yourself and your children and beneficiaries and avoid tax dollars. Assets can be protected from frivolous lawsuits while eliminating your estate taxes and probate, and also ensuring superior Medicaid asset protection for both parents and children with our Premium UltraTrust Irrevocable Trust. Call today at (508) 429-0011 for a no-cost, no obligation consultation and to learn more.
Rocco Beatrice, CPA, MST, MBA, CWPP, CAPP, MMB – Managing Director, Estate Street Partners, LLC. Mr. Beatrice is an “AA” asset protection, Trust, and estate planning expert.

Fraudulent Transfers, Civil Conspiracy, Uniform Fraudulent Transfer Act

Posted on: February 7, 2020 at 11:49 pm, in

What are Fraudulent Transfers? What is Civil Conspiracy? What is the Uniform Fraudulent Act state regarding LLC and creditor claims? Discuss the Single Member LLC within the context of owning public shares in a stock and its role in asset protection.

Under the Uniform Fraudulent Transfer Act you would be committing a crime, see Section 19.40.041
“…(a) a transfer made or obligation incurred by a debtor is fraudulent as to a creditor whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation: (1) with actual intent to hinder, delay, or defraud any creditor of the debtor…”

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   Asset Protection to avoid Fraudulent Transfers   Learn how to avoid fraudulent transfers in this article (click here)

What are Fraudulent Transfers?

Fraudulent transfers or fraudulent conveyance has to do with transferring assets at less than the “fair cash value” thereby defrauding a potential creditor or the intentional divesting of assets which become unavailable for satisfaction of the creditor’s claims. Fair cash value means cash or near cash value at the time of transfer, not the price you paid for the asset.
For example, you transfer your portion of your equity in your home to your wife for $200.00 and the fair cash value of your portion of the equity was $250,000 (total value of the home was $500,000) or you transfer title to your Mercedes to your brother for $100.00. Additionally the IRS would claim that such a transfer is a gift subject to a gift tax return and assess a penalty for the non-filing of Form 709 (PDF) United States Gift (and Generation-Skipping Transfer) Tax Return.

fraudulent transfers are just a gift to a layman

What is Civil Conspiracy?

The “civil conspiracy theory” has been defined by the courts as (1) an agreement (2) by two or more persons (3) to perform overt act(s) (4) in furtherance of the agreement or conspiracy (5) to accomplish an unlawful purpose or a lawful purpose by unlawful means (6) causing injury to another.
To be convincing, the creditor must allege not only the conspirators committed the act but also the act was tortious in nature. The conspiracy alone is not enough to trigger a claim for civil conspiracy without the underlying tort. Lately, however, advisors have been dragged into the creditor claims as co-conspirators for suggesting and implementing everyday common asset protection strategies. This has made me more cautious, making sure that I don’t get dragged in to my own legal nightmare.

Example of Single Member LLC Membership Units and Shares in a Public Stock

SINGLE MEMBER LLCs should be avoided. The example I can use is this: If you own 1,000 shares of General Motors it’s considered a personal asset subject to a creditor claim. If the claim is perfected by litigation in favor of the creditor the owner of the 1,000 shares of General Motors will have to transfer those shares to the creditor in satisfaction of his claim. Owning single member units of an LLC is not any different. The Owner of the LLC membership units is equivalent to owning the 1,000 shares of General Motors and therefore subject to a perfected creditor claim.

Asset Protection: Placing Title of Assets in Another Legal Entity

THE CONCEPT OF ASSET PROTECTION includes the possibility of placing title in certain assets in the name of a less vulnerable spouse or other family members, or a legal entity. One should be very attentive in transferring title without an open invitation to a “fraudulent transfer” claim against the asset transferred or the possibility of death by the spouse or family member, or possible dissolution of the marriage, or a court judgment.
The most common methods of holding assets by INDIVIDUALS:
  • Joint Tenancy
  • Joint Tenancy with right of survivorship
  • Tenants in Common
  • Tenancy by the Entirety
  • Community Property
LEGAL ENTITIES (Artificial person created by application of law):
  • General Partnership
  • Limited Partnership
  • Limited Liability Company
  • Corporation under Chapter “C”
  • Corporation under Sub Chapter “S”
  • Revocable Trust (There are many Revocable Trust variations, since a Trust is nothing more than a Contract)
  • Irrevocable Trust (There are many Irrevocable Trust variations, since a Trust is nothing more than a Contract)
To learn more about avoiding fraudulent conveyance rules and how to avoid civil conspiracy theories when repositioning assets and implementation of precise asset protection systems speak with an experienced and knowledgeable financial planner and advisor in these matters such as Estate Street Partners offering free initial consultations.
I always caution against simply speaking with only an attorney and only an accountant in complex financial planning with regards to single member LLC scenarios, partnerships in Limited Liability Company formations, regulations surrounding fraudulent conveyance and civil conspiracy and asset protection. It’s best to develop or consult with a group or team consisting of an attorney, accountant and financial planner or advisor to offer you the best, well-rounded protection. You will gain a more thorough understanding of the nature of asset protection from LLC formations to avoid fraudulent conveyance and civil conspiracy judgments.
Read the first part of this article “Fraudulent Conveyance, Civil Conspiracy, Uniform Fraudulent Transfer Act” by clicking here Single Member LLC: Charging Order, Creditor Claims, Pass-through

What is Asset Protection

Posted on: October 31, 2019 at 5:12 am, in

What’s Asset Protection? What’s a Good Asset Protection Plan? Which Asset Protection is Right for You? Offshore Scams and Know the Facts of Asset Protection.

Keys to an Asset Protection Plan

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“LATE-R” is already too “LATE.”
“If you’ve taken NO steps to protect yourself, your wealth, and your family from thieves, con artists, ruthless greedy lawyers, overzealous bureaucrats; you have underestimated the abilities of these shrewd, ruthless, invasive, money-hungry, predators.” – Rocco Beatrice, CPA, MST, MBA

Asset Protection Defined:

Asset protection is the concept of protecting and preserving one’s assets from frivolous, illogical, ill motivated, more often than not, devastating catastrophic claims against your wealth, designed to destroy your current and future lifestyle. In short, they want what you’ve got and they want to inflict maximum pain.
Asset protection has two goals:
  1. To make the enforcement of judgments against your protected assets virtually impossible, and
  2. To allow the “owner” of protected assets to retain engineered “control” over his assets

Asset Protection   Learn the 3 core secrets to successful asset protection by clicking here

Best Asset Protection Strategies Defined

How Good Asset Protection can Protect Your Privacy:

“Identity Theft” is the fastest growing financial crime in America – source: the U.S. Secret Service
There are literally hundreds of ways to protect your assets. Some are just common sense. Don’t flash your money around; don’t talk too much at parties, etc. By implementing a properly crafted asset protection plan, your creditor will have to jump through several hoops, before he even finds your money. A contingent fee predator lawyer will want an easier target.
There are approximately 950,000 lawyers. Just go through your own yellow pages. Most of them live on what they can “squeeze out of you.” Don’t become a statistic. Learn from other people’s mistakes. Learn how to become every contingency-fee lawyer’s nightmare.
The Internet is spyware on steroids and can be used as invisible wealth snatchers. Information collection about you, your associates, your family, your finances, has been compromised by the enhancement of data gathering technology through the internet. “Even if you’ve got nothing to hide” your very basic privacy can be had for a few bucks by thieves, con artists, ruthless greedy lawyers, and overzealous bureaucrats.
How “paranoid” are you? How “paranoid” should you be? the problem is not the zillion merchants collecting data about your spending habits. The problem is who’s collecting the data without your knowledge. And, for what purpose?

A Good Asset Protection Plan will:

  • Protect your current and future lifestyle
  • Discourage litigation and promote settlements, in your favor
  • Keep the ownership of your assets confidential and hard to find
  • Eliminate the need of prenuptial agreements
  • Internationalize your investments as a hedge against the unexpected surprise
  • Spread out your control over your most valuable assets
  • Help you in getting a fresh start, if you ever became insolvent in any of your other assets
  • Hedge against potential political, economic, and personal instability

Chartered Blueprint of Wealth Preservation and Steps to Protecting Assets:

  1. What are your financial goals?
  2. Think about each of your personal/business assets that you need or wish to protect
  3. Will there be domestic and/or international platform(s)?
  4. Select the legal entities:

Steps to Asset Protection (Expounded):

  1. Your financial goals should be:
    1. Asset protection / wealth preservation
    2. Defer your Capital Gains Taxes
    3. Defer, reduce, possibly eliminate your “Income Taxes.”
    4. Eliminate “Probate Jail” and Eliminate ALL your “Inheritance Taxes.”
  2. Determine your personal and/or business assets which may include:
    • Personal residence
    • Personal checking
    • Certificates of deposits
    • Investment accounts
    • Broker stock accounts
    • Other real Estate
    • Life insurance policy(ies)
    • Automobiles, boats, planes, collectibles, antiques
    • Individual retirement account(s)
    • Inheritance #1, Inheritance #2
    • Business #1
    • Cash, Accounts receivable, Inventory Equipment, Goodwill, Other assets
    • Business #2
    • Partnership interest #1
    • Partnership interest #2
    • Note: Same planning applies for each of your business assets
  3. What are your financial goals:
    • Domestic or Foreign/International
    • Your financial goal(s) points: 1,2,3 & 4 OR combinations of 1+4 OR 2+4 OR 3+4, etc.
  4. Domestic Platform(s):
    • Irrevocable Trust or Revocable Trust
    • Grantor Trust or Non-grantor Trust
    • Living Trust
    • Insurance Trust
    • Personal Residence Trust
    • *Ultra Trust®
    • *Medallion Trust®
    • *Vertex Trust ®
    • Corporation
    • General Partnership
    • Limited Partnership
    • Family Limited Partnership
    • *Limited Liability Company (LLC)
    • *Family Limited Liability Company (FLLC)
    • *Customized Hybrids, i.e. LLC, Family LLC, Limited Partnership, Family Limited Partnership or General Parntership is owned by an UltraTrust®
    • * = My preferred structures
  5. Foreign Platform(s)1 (please read note – 1)
    • Foreign Bank Account
    • International Business Company
    • Foreign Asset Protection Trust
    • Foreign Security Trust
    • Foreign Limited Liability Company (FAPT)
    • Offshore Uni Trusts
    • Offshore Mutual Fund
    • International Trading Company
    • Multi-Currency Bank Deposits
    • Swiss Annuities
    • Foreign Credit Card
    • Foreign Stock Trading Account
    • Registered Foreign Office
    • Registered Foreign Sales Facilities
    • Note – Use “Good” planning NOT “Secrecy.” Rely on “Law” NOT “Secrecy.”

1**Watch out for Foreign and Offshore Scams & Practitioners**

There’s a thriving industry of “offshore practitioners” advising IRS definition of “U.S. Person” to set-up offshore bank accounts and other financial structures thinking that they have “just become NON-U.S. Taxable.” They persuade the U.S. Persons to trust the “Iron Clad” secrecy laws of the jurisdiction and not to report ownership of their funds or structures to the Internal Revenue Service and other agencies. This is pure and simple tax fraud and gets many U.S. Persons in trouble.
WARNING: Complexity(ies) of U.S. laws requires many tax reporting and other various reporting requirements. Protect yourself, make absolutely sure that you seek competent professional expert legal, accounting, and tax advice before you consider implementing your foreign asset protection plan. Contact Estate Street Partneres and get the facts for proper U.S. reporting procedures.
Authorities are looking for NON-COMPLIANCE, not for those who report and comply. We believe in full disclosure. If there’s no reporting form, we make-up our own and file.
To my knowledge, there are no laws prohibiting you from protecting your hard-earned money with offshore international structures, as long as you file all proper documentation with proper reporting agencies. When your asset protection / wealth preservation plan is professionally and carefully implemented by competent professionals, the foreign side of life becomes significantly enhanced. Most international jurisdictions do not recognize U.S. based creditor judgments.
For example: a proper utilization of a foreign bank account should be part of every good asset protection / wealth preservation plan, it’s the less complex and the most useful part of your asset protection / wealth preservation strategy. Your cash will become an “asset protection fortress,” just make sure that you check the box on your Form 1040 schedule B, and file TD F 90-22.1. NO BIG DEAL. There is absolutely no downside to proper reporting on the existence of a foreign bank account.

No Financial plan is ever 100% bullet proof: Know These Facts about a good plan

  1. You can’t lose your assets without first being sued and them winning the lawsuit. Winning and getting the money are two separate issues.
  2. Implement your asset protection strategy when times are good. It’s too late when the crap starts flying. You will have to deal with several “fraudulent conveyance” laws – that is, if you had some warning, or you merely became aware (real or potential), or you should have been aware that someone was going to potentially sue you. By implementing any asset protection plan, you made your assets unavailable to satisfy creditor claims. Therefore, you may be found guilty of a “fraudulent conveyance.” The judge may set aside your attempt to hide your assets and hand it over to your creditors. In addition, the judge may decide to throw the book at you with other financial and possibly other consequences. PLAN EARLY, when the sea is calm. Don’t become a statistic.
  3. Your creditors can’t take what you don’t have. Don’t put everything in your name. Don’t be so obvious.
  4. What your creditor’s don’t know becomes your asset. Don’t volunteer information, don’t flaunt your wealth, don’t talk too much at parties, don’t tell them your business, don’t tell them how smart you are.
  5. No country in the world will automatically honor a judgment against you. Outside the United States there are no contingency lawyers. Your creditor must re-litigate his case in the foreign country. Your creditor must put up a bond. Your creditor must pre-pay attorney fees. If your creditor loses his case he must pay your attorney fees. Finally, your creditor must prove that the laws of their country are invalid, the judge is a bum, and that the whole country should disappear into the sea.
  6. There’s a greater chance that you will be sued more times than you will have a hospital stay.
  7. Your Individual Retirement Account (IRA) is not protected by ERISA. Your Individual Retirement Account is usually the second asset to be attacked, behind your cash and investment account. Your IRA is an easy target because (1) It’s always in the United States and (2) Your IRA is usually in cash or near cash.
  8. The United States is the only country that permits contingent fee litigation.
  9. There are approximately 950,000 lawyers. Just go through your own yellow pages. Most of them live on what they can squeeze out of you. Don’t become a statistic.
For many self-made, hard working citizens, the “American Dream” can become the “American Nightmare.” Exorbitant taxes, lawsuit-friendly courtrooms, persistent predator plaintiffs, and contingent-fee clever lawyers are a constant threat to everything you’ve worked so hard to accomplish. It could all evaporate before your very eyes.
Take personal responsibility. If you’ve taken no steps to protect yourself, your wealth, and your family from thieves, con artists, ruthless greedy lawyers, overzealous bureaucrats…you have underestimated the abilities of these shrewd, ruthless, invasive, money-hungry predators.

Asset Protection in Divorce: How to Protect Assets From Divorce

Posted on: September 7, 2019 at 11:42 pm, in

Will learning about asset protection in divorce be a waste of time if you live in a community property state? How does one protect assets before or during a divorce? Common steps to divorce asset protection for gifts, family heirlooms, and real estate. You will need to consult with a divorce lawyer, professional appraiser, and estate planner. Definition of Equitable Distribution and fair market value of assets in divorce.

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How to protect your assets during a divorce? Protecting assets through a divorce can be a complex financial process further complicated by the emotional devastation. If you are going through a divorce it may be important to you to determine ahead of time what your assets are and how you will protect them from your spouse.
The first step will be to hire a lawyer familiar with the laws for dividing property in your state. Good legal council will prove invaluable in defending your claims to property and can give you names of appraisers and accountants to help your case. Your divorce lawyer will also assist you on how to remove any Powers of Attorney granted to your spouse for control of your property and finances.
There are several steps you should consider when trying to protect your assets during Divorce:
  1. Identify everything that was given to you as a gift or family heirloom.
  2. Identify community property.
  3. Hire a professional appraiser.
  4. Figure out how you will split retirement and physical assets.


Identify Gifts and Family Heirloom to Protect Assets During Divorce

A camera will prove to be your best friend during a divorce. You should make a list of all items which were given to you before and after the wedding and take pictures of these items prior to removing them from the residence. Once you have compiled your list you should remove all your personal items to a location not easily accessible to your spouse.
Your spouse will be within their rights to claim any items you leave behind in the residence and do not immediately claim. If you or your spouse left the residence voluntarily, either of you is entitled to return at any time and retrieve belongings. If locks have been changed, except in the case of a court order, you are within your rights to have a locksmith open the doors. Your next step will be obtaining, if possible, written proof of who gave you the items and when they were received.

Asset Protection in Divorce

Community Property Assets

Community property of assets refers to the belongings shared by you and your spouse, such as the furniture, pots and pans, etc. It is important to take pictures of these belongings as well before you remove the items you wish to claim as your own. Photographs are especially valuable if there are expensive items you would like to have but did not have the ability to move and you feel your spouse may try to take them. All photographs should be kept in a secure location not readily accessible by your spouse.

Hire a Professional, Independent Appraiser for Divorce Asset Protection

Division of property during a divorce is determined by the fair market value of the disputed items to ensure one party is not being favored over the other during settlement. An appraiser will be necessary to determine accurate estimates, although you should consult your lawyer on finding a qualified individual.
Using the same accountant who handled your assets in the past may seem suspicious and a court may order another appraisal or rule in favor of your spouse’s accountant. It is critical that an appraisal be straightforward and unbiased for the protection of assets during Divorce.

Estate Planner Consultation to Divide and Protect Assets During Divorce

When considering how to divide assets prior to divorce settlement, it is wise to consult a professional estate planner or financial analyst. For example, if you are thinking about selling your home it may be wise to do so prior to settlement since you are entitled to deduct up to $500,000 of the sale from capital gain taxes.
Selling the home after the divorce is final and reduces your benefit to only half of the sale price. Retirement assets and stocks should also be discussed. If you and your spouse choose to split the retirement benefits you must sign a Qualified Domestic-Relations Order (QDRO) which notifies the pension sponsors how to pay the benefits. Although you cannot take stocks in your spouse’s name you may be entitled to the proceeds once they are sold.

Exceptions to the Rule on Divorce Asset Protection

Some states, such as New York, are known as “equitable distribution” states. “Equitable” mean “fair” and assets will not be divided right down the middle based on their fair market value. Division of assets according to New York Divorce law states that all property obtained prior to the marriage still belongs to the individual and all property obtained afterwards will be distributed by the court based on established guidelines.
The factors a court considers in equitable distribution states for divorce assets are:
  1. The difference in income and property from when the marriage began to the date divorce was filed.
  2. The age of both individuals and how long they were married.
  3. The needs of a parent who has won full custody of children involved (i.e. will they need the house to properly care for the child?)
  4. Any loss of pension or inheritance.
  5. What contributions the parties made to acquire the property.
  6. Future earning potential of both parties.
  7. Tax consequences.
If you are considering divorce it is wise to consult a lawyer as soon as possible to ensure the protection of your assets and help you understand your rights as they pertain to individual state law.
Estate Street Partners is available for consultation on how to protect your assets during and before a divorce. Please call our toll-free line at 888-93ULTRA (888-938-5872).
Read more articles on hiding your assets, how the rich hide their assets, offshore asset protection, getting sued and hiding assets, frivolous lawsuits, grantor trusts, and estate planning and trust:

What’s an Asset Protection Trust?

Posted on: July 25, 2019 at 1:24 am, in

What’s an asset protection trust? What’s a Trust?

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An “ASSET PROTECTION TRUST” is nothing more than an unchangeable (irrevocable) to the outside world “CONTRACT” between the person who wishes to protect his assets (the Grantor) the person who will manage the assets (the Trustee) for the benefit of all Beneficiaries which may include the Grantor, his spouse, children and grandchildren.
The Trust Contract requires the transfer of assets from the original owner (Grantor) to a legal entity for the purpose for which the Trust Contract was created.

Learn the 3 core secrets to successful asset protection by clicking here

What type of trust, Grantor, or Non Grantor? What’s the distinction?

A Grantor Trust take a special place within the tax code. A “Grantor-Type Trust” for tax purposes is treated as a disregarded legal entity. The disregarded entity is “Income Tax Neutral” meaning that the original Grantor retained strings attached so that for purposes of the IRS he retains the assets in his complete control, thus he did nothing for the purpose of asset protection. Income tax benefits and income tax expenses are retained by the Grantor, thus he pays income taxes on the income of the trust. The Trust is a “pass-through” to his form 1040 i.e. real estate tax deduction and mortgage interest deduction on his person income tax return.

Revocable or an Irrevocable Asset Protection Trust, what does that mean?

Revocable is when the original person with the assets transfers (repositions) the assets to a trust with strings attached. The Grantor, the Trustee, and the beneficiary are the same person. Effectively you have kissed yourself on the hand and blessed yourself as the Pope. A revocable trust does absolutely nothing for asset protection. Many lawyers recommend revocable trusts for avoiding probate, recognizing that the trust is not worth the paper it’s written on for protecting assets against frivolous lawsuits and the avoidance of estate taxes.
Asset Protection Trust
An irrevocable trust is when the Grantor (the person with the assets) gives-up complete control to an independent Trustee who in turn will use his judgment as Trustee to manage the assets for the beneficiaries of the trust. The fiduciary relationship of the Trustee is to the protection of the assets at any cost. The Trustee must protect and must diligently invest under the prudent man rules, he cannot ever deal for himself. The courts do not look favorably on dereliction of duties while serving as Trustee. An irrevocable trust is the only significant asset protection device for avoiding frivolous lawsuits, avoiding the probate process, avoiding estate taxes, and is the only device for avoiding the mandatory spend-down provisions for qualifying into a nursing home.
An irrevocable asset protection trust when combined with a Limited Liability Company is an asset protection fortress, short of a foreign asset protection trust. A foreign asset protection trust is the Rolls Royce of asset protection, the irrevocable trust with an LLC is the Cadillac.

About the Ultra Trust®:

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Can a Trust Be Sued – Land Trusts Myths for Asset Protection

Posted on: June 21, 2019 at 1:57 am, in

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The response to “Can a Trust Be Sued?” question has to be answered with reply of, anyone can sue anyone or anything at anytime, but the real question should be, if it gets sued will it hold up in a court.  The right kind of trust, with the right trustee, written the right way, and with assets that are transferred properly will hold up. However, simply put, a land trust is a “revocable” living trust with unique features when it comes to “hiding” the true owner of property in the trust. (*Land trusts can also be irrevocable trusts which could provide terrific asset protection due to the fact that the client no longer owns the property. Clients use land trusts to keep the property in their possession and hide them not to give assets irrevocably out of their estate (which may have gift and income tax consequences)).

Can a Trust Be Sued - how to protect assets from lawsuits  Learn the 3 core secrets to successful asset protection by clicking here

You’ll know that I get disgusted when I hear “asset protection” advisors tell clients that a good way to protect assets is by hiding them. There is NO legal way to “hide” assets. Having said that, land trusts are sold on this very concept.
Because asset protection is such an important topic today, marketers have picked up on this and are heavily marketing land trusts as asset protection tools. Why? To generate legal/administration fees. The problem is that a client or advisor reads that land trusts can be an affective asset protection tool and blindly jump in to use them not knowing that there is no real asset protection provided.

Can a Trust Be Sued: The Problem with The Land Trust?

As stated above, a land trust is a “revocable” trust. Asset protection 101 is that revocable trusts provide NO asset protection from creditors. For example: if Dr. Smith has a Christmas party at his house where he is serving alcohol and someone drinks too much and drives home and gets into a terrible car accident killing three people in another car, Dr. Smith is going to be sued. As a general statement, ANY assets in his own name or ANY assets in a “revocable” living trust will be at risk to the lawsuit that will ensue.

The Sale’s Pitch of the Land Trusts

The sale’s pitch with land trusts is that everyone should have their real estate in a land trust because when a plaintiff suing you (or thinking of suing you) does a search to find out what assets you own, they will not be able to “find” the assets you own in a land trust because they are affectively “hidden.”
I found one website which gave an example of a client getting in a car wreck where the client was sued for $3,000,000. The client had $1,000,000 of auto insurance and because the client had his house in a “land trust” the plaintiff’s lawyer was not able to find the house and therefore, settled for the $1,000,000 of insurance coverage instead of going after $3,000,000 in assets.
The above example is absolutely absurd and one of the reasons of the importance of this newsletter to inform you what is reality. Remember that I had several people e-mail me and basically tell me that they thought land trusts would “asset protect” their homes. Land trusts technically provide NO asset protection.

Can a Trust Be Sued: “Hiding Assets” with a Land Trust

Land trusts only temporarily hide your assets so that IF a personal injury attorney does a search to find your assets, the attorney will not be able to do so from an initial cursory search. In the car crash case, the client is going to be sued and the assets owned by the client will be found. Can a Trust Be Sued - Asset protection
Isn’t a land trust better than nothing? I suppose. If having real estate in a land trust will help your clients sleep at night, than have them use us a land trust IF and ONLY IF they are coupled with other asset protection tools such as the UltraTrust®  irrevocable trust (the best asset protection tool in my opinion), Limited Liability Companies, Family Limited Partnerships, etc. The problem with the way land trusts are pitched is that they give the client a false sense of security that the land trust will “protect” the assets in the trust. Again, land trusts provide NO asset protection from creditors.
You need to understand that in the “real world” what will happen with a lawsuit is that a personal injury attorney will file suit and then take the deposition of the person being sued. At that deposition, the attorney will simply ask the client to list off their assets. While it may be premature and objectionable, in a deposition the question will be answered, the defendant will have to disclose assets in a land trust and the objection will be noted. Again, there is no legal way to hide assets.

Conclusion of the Asset Protection of Land Trust

In my opinion, land trusts are not very useful when it comes to “asset protection.” If you use one, make sure the asset(s) being transferred to the trust are already owned by a separate entity which provides “real” asset protection. The bottom line is that land trusts do not protect assets notwithstanding what the marketers of the topic will tell you.  Can a Trust Be Sued? Absolutely, and if it’s a land trust you choose to use, then don’t expect it to hold up in court.
Call Estate Street Partners 888-93-ULTRA (888-938-5872) for more information.
To learn about irrevocable trusts and estate planning visit:

How to Protect Assets from Lawsuits, Divorce, Accidents – Irrevocable Trust Asset Protection

Posted on: February 2, 2019 at 12:26 am, in

The keys is to learn how to protect assets from lawsuits. According the National Center for State Courts, there were 103M lawsuits in 2019; One lawsuit for every three citizens in the United States. Decades of a person’s hard-work to accumulate assets; working their entire life to build, are at risk of being attacked because of one “frivolous” lawsuit. How to protect assets from lawsuits like these? Did your lawyer tell you that there is nothing you can do now because the tragedy already happened? Do want to know how to properly protect your assets?
    how to protect assets from lawsuits    Learn the 3 keys to protect assets from lawsuits step by step (click here)

If We Can’t Help Teach You How to Protect Your Assets from Lawsuits, Then You Don’t Pay One Penny…

  • Dramatically increase your armor against all types of lawsuits
  • Save on your capital gains by deferring your taxes
  • Know that your assets are properly and safely assigned to your loved ones
  • Complete control over all your assets and reallocation of assets even after death
  • Design your own personal financial plan according to your wishes and desires and be flexible as your situation changes (addition of new baby, divorce, death of family member)
  • Total, surefire privacy and complete anonymity with client/attorney privileges
  • Exceptional successful and clear roadmap designed specifically for you and your family’s needs
  • Substantial savings of tens of thousands of dollars from probate fees
  • Option for Foreign Asset Protection and offshore financial planning if you have $3million or more, 10% should be in a foreign jurisdiction.
  • Completely legal. You rely on the laws created for asset protection, not secrecy. Filling all necessary IRS requirements, strengthens your asset protection system.
  • Finally, learn how to protect your assets lawsuits, divorce, and even from the Medicaid Nursing Home spend-down program.

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I’ll get straight to the point and tell you the ONE Ultimate Secret to how to protect assets from lawsuits or “hiding your money” is to REPOSITION  it. What do I mean by that? The answer is simple: you actually don’t hide your money to protect assets from lawsuits. You use laws created for “asset protection” to protect your assets from lawsuits. You use the laws to your advantage. You use legal entities created under the different laws – trust laws, corporate laws, partnership laws, bankruptcy laws, and tax loopholes to your complete advantage.
The average individual wants to “own” assets. The truly successful individuals have learned WHAT the absolute secret is regarding how to protect assets from lawsuits: that “control” is more significant than “ownership.” By not owning the asset, they control frivolous lawsuits, they avoid probate, they avoid estate taxes, negotiate with creditors on their own terms, and they are able to significantly reduce their taxes. In essence, they can “hide their money” completely transparently and legally.
Ownership is the absolute right to possess and use property to the exclusion of others. Control is the control of others or skillfully influencing others to your advantage. Ownership is absolute; control is not. If assets are in the absolute control of others, there’s no control on how it can be transferred, thus avoiding frivolous lawsuits and allowing you to dictate terms to your creditor in any negotiation. 96% of lawsuits never go to court because they are settled in a negotiation. We put you in a position of leverage when negotiating with your creditor. This is the true definition of irrevocable trust asset protection.
The successful have also learned to diversify their assets worldwide. The theory “don’t put your eggs in one basket” applies to everyone, not just the rich and successful. Everyone has the same opportunity to diversify, the number may be smaller for the average individual, but there is nothing that the successful are doing that is not available to everyone.

How to Protect Assets From Lawsuits by “Hiding Your Money and Assets in Plain Site

“Most advisors are mainstream with mainstream ideas. You are definitely out of the box. Your ability to take apart complex issues and provide alternative solutions is simply remarkable. Your vast array of tax planning strategies are extraordinary. You are absolutely in my little black book of people to call.”
— Rick S., Massachusetts
You can “hide” your assets with various options. Remember, you still keep your total privacy of your asset re-allocation but it’s still completely legal to the IRS because you still file all necessary forms that strengthen your asset protection!
  • Irrevocable Trusts
  • Foreign Trusts (FAPT)
  • Limited Liability Companies (LLC)
  • Foreign Limited Liability Companies
  • International Business Companies (IBC)
  • Limited Partnerships
  • Corporations under Chapter C
  • Corporation under Subchapter S

The 9 Basic Things The Successful Have Learned About How to Protect Assets From Lawsuits…

  1. An asset protection system will not make you “judgment proof.” Anybody can still sue you for any reason they can dream-up. You cannot avoid a lawsuit directly, but you can make it so painful to file one that they move-on to a better/easier target.
  2. Preventive maintenance, you don’t run your car 100,000 miles before replacing the oil. Asset protection planning is most effective and least expensive before you have legal problems. If you’re in a current lawsuit then don’t worry because there is something you can still do about protecting assets from lawsuits. Read on!
  3. It is never too late to improve protection. Anything is better than doing nothing. Don’t handout road maps to your bank account.
  4. Don’t UNDER-ESTIMATE the abilities of these shrewd, ruthless, invasive, money hungry predators and their very CLEVER CLIENTS. For the mere filing fee of $275 they will shake your tree to see what falls. They have learned that if they shake enough trees, they will get rich.
  5. Everything you own in your name is subject to creditor attacks. The common stock you own in your corporation; the LLC membership units, general partnership interests are subject to creditor attacks. If they own your shares, they own your company.
  6. Giving away assets to family members is not how to protect assets from lawsuits. Transferring assets to family members or anyone at less than its fair cash value is “fraudulent conveyance” a criminal event to defraud your potential creditors.
  7. All income is taxable, unless there is an exemption or exception. Deduction of your real estate tax is an exemption, gifting under $15,000 is an exception.
  8. Bankruptcy will not eliminate or discharge your tax liability.
  9. Only an independent trustee (not related to you by blood or marriage) is how to protect assets from lawsuits. An irrevocable trust, with an independent trustee, that is properly set up, structured, and funded is the only proven asset protection system. When an irrevocable trust owns shares in your corporation or is the member of your LLC, you have created the fortress of asset protection, the Mercedes of asset protection system, short of a Foreign Asset Protection Trust, which is the Roll Royce.

How to Protect Assets From Lawsuits to protect your wealth

Why I Want to Help You Learn How to Protect Assets From Lawsuits…My Personal Story

Hello, my name is Rocco Beatrice. In 1983 I hired an attorney with expertise in Real Estate Tax Abatements (reducing real Estate Taxes for a contingent fee) to represent one of my clients. Without my knowledge, the attorney hired an independent Appraiser and gave him instructions on how to prepare his appraisal report, creating a lack of independence on the Appraiser. As a result of my lawyer’s actions it caused the loss of a $2,153,000 real estate tax refund (abatement)!
Since I hired the attorney to represent my client, I stood to lose the lawsuit if my client sued me. Everything I owned jointly with my wife was up for grabs. Like everyone in wealth building years, I gave no thought to asset protection. After graduating college, my wife and I started our lives together with no money; we had a couple of kids, and we were progressing our way to financial independence; we owned a house, investments, cars, stocks and other assets.
  • Are you tired of listening to an attorney who only knows half the story?
  • Find peace and sleep blissfully with our rock-solid financial roadmap and asset protection strategies
“Dear Rocco, I write to express my greatest appreciation for the outstanding job you have done in compiling all of the vital information on asset protection and trusts. I especially want to acknowledge you for your gifted ability to transfer that knowledge to me in such an easily understandable manner. I hate to think how much I and my associates have spent over the years on so-called asset protection “experts” who don’t know 10% of what you know. Thank you for your commitment to excellence and for the ongoing contribution the Ultra Trust® is making to me and my business.”
— John M., Maine
      protecting assets from lawsuits    Learn the 3 keys to protect assets from lawsuits step by step (click here)

How we learned how to protect assets from lawsuits and how we personally almost lost EVERYTHING we owned!

In one single moment, we stood to lose everything with one just lawsuit – not to mention potential punitive damages. I was losing sleep. My wife was worried about me. I couldn’t talk to my friends about it because I felt ashamed of my situation and I couldn’t ask them to bail me out. It’s sounds so cliché but I felt alone and hopelessness was overcoming me. I was emotionally drained from this experience and I didn’t know what was going to happen to my family, my wife, my children and everything I worked so very hard my entire life for.
“How can this be happening?” I asked myself over and over. Just because of one overlooked mishap by someone working for me and I stood to lose everything. It wasn’t even my fault!
Isn’t this always the case? We are so unprepared for any mishap or accident or event in our lives then ONE DAY, all of sudden, something happens in our lives that changes our lives forever.
Save yourself from ulcers, sleepless nights because you are not protected, the migraine headaches and the feelings of total hopelessness with the Stable, Stronghold of the Ultra Trust®.
The Ultra Trust® is unmatched in its ability to save and protect your assets.

Why Are You Being Sued?

It’s always about the money. If there was no money involved then you wouldn’t be sued. Plain and simple. There will always be people declaring their lawsuit based on higher principles but, at the end of the day, what are they asking for? Money. They are not asking for a mere apology from you.
So it follows suit that any contingent-fee lawyer or any lawyer with wits about him/her will investigate how much money you have and how much you are actually worth. It’s the pot of gold that lies at the end of their litigation. Whatever is tied to your name and Social Security Number is what is deemed important to them and to you as well.
This information is so readily available with the advent of the Internet it would take anyone a few minutes of their time and pay a document search service center $30 to garner all your assets. Assets like your home, vehicle, real estate investments, stocks, bonds, bank and brokerage accounts and just about anything else of value to them can be found online. Scary but true.
Any lawyer worth his/her salt will do an even more in-depth analysis and conduct a much more thorough search of your worth. If they think it’s worth it then you can expect to be sued for nth amount of your worth.

But My Lawyer and Accountant Told Me “It’s too late!“…Hogwash – Learn How to Protect Assets From Lawsuits

When Elvis Presley died in 1977, he left $10.2 million worth of estate value. Of course as a result of people’s greed they were fighting for a slice of the pie. After several years of probate 72.5% of Elvis’ estate or $7.4 millions was gone to attorney fees judge fees appraisal fees accounting fees and other fees.
— James Banks “Creating Wealth Through Probate: The Best-Kept Secret in Real Estate Investing”
This is one of the most frustrating things I hear! After fielding hundreds of calls, especially when they find themselves in “potential lawsuits” the average inquiry is untrusting. I tell them that it’s better to do something than nothing. It’s contrary to their lawyer’s and accountant’s advice who have told them, “There’s nothing you can do. It’s too late!”
It’s better to do something than nothing, I tell them and repeat it over and over, despite what their attorney and/or accountant usually tells them. I know this from first hand, real world experience helping people that have been in real life or death situations with regards to their financial well-being. Opening your wallet and passing it around, is not my idea of solid advice.
As long as the lawsuit has not been initiated there’s no duty for you to leave your wallet open for potential, possibly potential, maybe potential, creditors. Nothing I have read within any civil, contract law or within your constitutional rights to leave yourself naked. You can do quite a bit, as long as you do not commit “fraudulent conveyance” – that is, repositioning (transferring) your assets at less than its fair market value.
If you transfer your house to family members or some legal entity (Corporation, LLC, Trust, Partnership, Limited Partnership, Family Partnership, or Family LLC, etc) as an asset protection device, the transfer has to be at its fair-market-value. If your house has a selling price of i.e. $500,000 you must receive back something worth the same $500,000 in cash or near cash.
Even when a lawsuit is initiated, you still can do some things to frustrate your creditor. Your objective is to stall and place barriers wherever you can legally to stop and prevent anyone from accessing your assets and money. Things you’ve worked too hard to lose because of one or two lawsuits.
Furthermore, a court judgment against you and your assets as a result of losing your case in court does not necessarily mean that they will even get the money. Under certain conditions the judgment against you will act as a strong deterrent because your creditor may have to pay income taxes on income generated by your business or assets without your creditor getting a single penny from you.
Getting a judgment and collecting on the judgment are two different monsters. Your creditor will definitely want to renegotiate with you if he has to pay taxes on income he will never receive.
Let’s think of your situation another way. If another person, entity, business or whoever holds any grievance against you and initiates a lawsuit for whatever reason whether there are any reasonable grounds for it or not, do you think that it is right and fair that your assets are now “suspended” whereby you cannot re-allocate it to someone else? In other words, just because someone is suing you does not give him or her the right to “hold” your assets indefinitely till the outcome is determined.
The outcome could be months or several years before an outcome is determined. So this means that whoever initiates any lawsuit against you can do this to your assets and your money? So if I didn’t like you then I can “suspend” your assets indefinitely. Your opponent can do this forever till you die. Does this sound reasonable and sound to you?
The plaintiff hasn’t even won anything yet so why should you suffer just because someone begins a lawsuit against you? It’s not right. It’s not just. And it’s your constitutional right to defend what is yours. So fight for it! Give your opponents every roadblock and make it as difficult for them to get to your money and assets. You’ve worked hard for this money. Don’t leave it there just because someone started a lawsuit against you.
  • It’s Your Constitutional Right to Protect Your Assets!
  • Save your assets and money despite what your own lawyer and accountant have told you
  • Are you presently being sued and need to protect your assets but your attorney and/or accountant have told you cannot do anything now? You can still do something about it!

Are You Tired of Listening to A Lawyer Who Only Knows Half the Story About How to Protect Assets From Lawsuits?

You may, as most people, will ask your attorney or CPA for advice on how to hide your assets, how to protect it and what you can do. The truth of the matter is that your trusted attorney or financial advisor hasn’t ever had any training or experience whatsoever in the matter of asset protection. I actually provide seminars to CPAs and Attorneys on Asset Protection twice a year. You would be shocked by the questions I get from so-called assets-protection-experts.
Did you know that asset protection isn’t even a subject in law school. Yes, there are courses taught on trusts, will, estate planning and corporations but not specifically on asset protection. Just look at the Harvard Law School Curriculum and you’ll see evidence of this. Protecting your assets is in essence designed to place lawyers out of business.
Well then “Who is qualified to be give advice on asset protection and how does one consider to be an expert at asset protection?”
Simple. Find someone who has:
  1. Real world, hands-on extensive experience in asset protection strategies in both domestic (the U.S.) and international arenas (Nevis, Bermuda, Antigua, Caribbean Is, Hong Kong, etc.) and someone who knows how to “hide” your assets totally and completely legally so the IRS will pat you on the back.
  2. Someone with an impeccable successful record in asset protection and with a pool of talented experts both in the domestic and international realms to give you the best advice from every angle possible. Period.
Estate Street Partners experience isn’t based on theoretical text books or what MAY work. I’ve been through the grind and learned everything I can to help my family and myself out of trouble. I’ve helped hundreds of others do the same. My real world, hands-on extensive experience is a based on a solid “what works” based on 153 years of court cases and I’ve assemble a team of experts around the world to help you do the same and offer you the best you can possibly get.
You will receive the uncompromising, absolute, secure and solid advice based on this real world, hands-on experience, years of experience from an award-winning estate and trust planner & tax expert AND an international team of bonded and licensed professionals who SPECIALIZE and are EXPERTS in their field whether you need domestic or offshore protection.

Don’t Let Your Attorney Convince You That a Revocable Trust or Just a Will Are Your Best Options!

It is one of the most common legal scams. This will only help your attorney set up his own retirement fund. You see that with a revocable trust and even a will, you will be subject to probate court where your attorney can defend the estate from frivolous claims on the estate. The larger the estate the more claims there are and the more fees your attorney can rack up.
What’s wrong with a revocable trust (revocable living trust) is that the owner of the assets (the Grantor) retains too much power over the disposition of the trust assets. This direct control nullifies any defenses against potential frivolous lawsuits. His deemed control is equivalent to ownership, and if you still own the asset you are liable to lose them in a lawsuit. And if you own the asset you will incur an estate tax.
So why does a lawyer espouse the benefits of a revocable trust (revocable living trust)? Well, he or she or the law firm benefits directly because they know that you have to rely on them completely for any and all legal matters that arise from any new lawsuits. That’s their goal. It’s always about the money, isn’t it?

Now Protecting and Transferring Assets is Even More Important So Seniors may Qualify for Government-Subsidized Medicaid Money…Transfer Your Parent’s Assets Today!

NYtimes clip Medicare Caring for Parents and how to protect assets from lawsuits
  • Are you aware of the Medicaid 5-year look back provision?
  • Avoid the Medicaid Nursing Home Spend-Down program saving you tens and thousands of dollars caring for your elderly parents.
  • Avoid the financial disaster of selling off all your parents assets just so they can be accepted in the government-subsidized Medicaid Nursing Home program.
  • Reduce the stress and anxiety giving up everything your parents have worked all their entire life for by easily and simply re-allocating the assets.
“Dear Rocco, if it wasn’t for you, I still would be in the middle of a most unpleasant event. Your persistence of repositioning my assets with three separate Ultra Trusts® definitely saved me from selling pencils on the corner of Broad and 42nd Street in Time Square.”
— Bill W., New York

As your parents begin to age you and your family may have some or all of these concerns BEFORE they enter the nursing home:

  • Downsizing a large household
  • Overcoming anxiety and procrastination
  • Assessing whether to fix up a home or sell “as is”
  • Locating professionals for every step of the moving process
  • Working through family issues
  • Finding the right type of housing
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Ms. Rowe4 is among the legion of adult children of more than 15 million, according to various calculations, who take care of their aging parents, a responsibility that often includes paying for all or part of their housing, medical supplies and incidental expenses. Many costs are out of pocket and largely unnoticed: clothing, home repair, a cellular telephone.Adult children with the largest out-of-pocket expenses are those supervising care long distance, those who hire in-home help and those whose parents have too much money to qualify for government-subsidized Medicaid but not enough to pay for what could be a decade of frailty and dependence. The burden is compounded by ignorance, according to a study by AARP, released in mid-December, which found that most Americans have no idea how much long-term care costs and believe that Medicare pays for it, when it does not.
— NY Times, Jane Gross, December 30, 20062
If any of these issues concern you then you know that the last thing you want to think about is the cost of spending your own money for the vital care of your elderly parents. With all the “little” things that need to get done now you can’t simply hope that Medicaid will cover your elderly parent’s expenses. So it’s best to be prepared WAY in advance to mitigate the stresses of caring for your parents.
Now it’s becoming ever more important that as the baby boomers set to retire they need to know that caring for their elderly parents will become an eventual reality and many are not prepared for it. The financial burdens and the incredible stress of caring for your elderly parents can be overwhelming. There are simple and easy steps you should be taking to reduce this stress and ease the pain and suffering that you and your family may endure when it comes time to care for your aging parents.
The law extends Medicaid’s “lookback” period for all asset transfers to 5 years, it was originally 3 years and changes the start of the penalty period for transferred assets from the date of transfer to the date when the individual transferring the assets enters the nursing home. Or to put it another way, your elderly parents’ assets need to be sold 5 years or longer prior to entering the nursing home and to qualify from the benefits of the Medicaid Nursing Home Program. Qualification to enter the nursing home is achieved when the individual is out of funds, meaning he/she cannot afford to pay the nursing home.
The new federal law applies to all transfers made on or after the date of enactment, February 8, 2006. Any transfer made before February 8 falls under the old transfer rules. Exact enactment provisions are state by state, but it’s clear that non-compliance by 50 state legislatures puts their federal funding at risk.
Don’t become a statistic. Transfer your assets with our rock-solid Ultra Trust®. You need 5 years before your elderly parents can enter into the nursing home program with government assistance so call us now toll-free for a FREE consultation with no obligation, no risk, no sales pressure at 888-93-ULTRA (888-938-5872) to see how we can help.

If You’re a Business Owner then You Should Know Why an LLC, Sole Proprietorship or Incorporation Is NOT Enough-  Learn How to Protect Assets From Lawsuits

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Among the constant criticisms leveled at American civil juries is their record of largesse in the awarding of damages particularly against corporate defendants whose pockets are perceived to be “deeper” than average. In one study of 19,000 U.S. state jury trials in which corporations made up slightly more than a quarter of the defendants, the awards against corporations were found to be 4.4 times those in similar cases involving individual defendants and three times those against government defendants. Such “sympathy verdicts” can be especially high in products liability cases and medical malpractice suits. The median civil jury award rose seventeen percent in 1996.
— 140 H. J. Moskowitz & R.B. Wallace, “Loser-Pays: A Deterrent to Frivolous Claims?” N.Y. L.J., March 7, 1996 at p. 2, cited by Walpin, 1997 at p. 648.
If you own corporate shares, LLC membership units or general partnership units or shares then you own the LLC, Corporation or partnership. This will not avoid any of the frustrating, money-draining probate proceedings, reduce your taxes nor defer capital gains. Neither will it save on estate taxes nor protect you from any lawsuits whether they are frivolous or not. Anybody has the absolute right to sue you for your money and anybody can try and claim a part of it and there is nothing you can do it…UNLESS you have the foolproof, dependable, secure and reliable Ultra Trust® to protect you and your family.
None of these horrible life-draining events can happen if your Ultra Trust® owns your corporate shares, LLC or general partnership shares. The Ultra Trust® is the only asset protection vehicle that can hold an unlimited amount of assets with NO ceiling on the dollar transfer amounts. The Ultra Trust® is the Mercedes-Benz of the asset protection systems.
 Please call us for a FREE consultation at 888-93-ULTRA or directly at (508) 429-0011 to find out the best plan for your business. There is no risk, no obligation and no sales pressure to our calls.

How Much You Save Avoiding Probate

“Short, snappy, and to the point, timely, and directly applicable. The tax deferral strategies and techniques are head and shoulders above what I have seen so far. Please don’t spread it around, I prefer to be one of the top 1%.” — Mario B., Florida
  • Sleep like a baby tonight knowing your assets are safe, secure and protected
  • Step-by-step, Mercedes-Benz client help and support by top management in the business – bonded, licensed professionals
  • Reduce your real estate taxes and mortgage interest taxes
There are many costs involved with Probate including the fact that it is a Public Forum. Everyone will know about what is in your estate and who gets what. In addition, the hard costs are outrageous. These numbers don’t include the personal anguish, frustrations, heart-wrenching feelings you’ll get going through the legal ordeal of the probate process which can last anywhere from 4 months to 3 years or even longer! What This means to you is that the assets cannot be used for potentially years. The emotional stress and the constant never-ending battle and arguments for any legal proceedings has no price to it. But just view these numbers below to get a sense of what it may end up costing you if you don’t have the solid, dependable trusts backed by Estate Street Partners, a team of professionals.
Gross Value of Probate EstateTotal Estimated Average Probate CostsProbate Costs as Percentage of Estate
So even if you had a house worth $800,000 you’d end up paying $50,000 in probate fees – something a simple will cannot protect you from. Here are some more frightening statistics that follow…

Famous People Who Were Not Aware How to Protect Assets From Lawsuits or the Tax Man!

  • Dwight D. Eisenhower--
    $2,905,850 estate reduced by $671,420 – a 23% loss!
  • Nat “King” Cole--
    $1,876,640 estate reduced by $1,577,740 – an 84% loss!
  • Franklin D. Roosevelt--
    $1,940,990 estate reduced by $574,860 – a 29% loss!
  • General George S. Patton--
    $844,360 estate reduced by $266,820 – a 31% loss!

— Source: AARP (American Association of Retired Persons)

Do You Wish to be In Poor Astor’s Position?

A true but sad story. Stephen Astor’s mother, Sadie, died in 1999 leaving $1.8 million of assets, half for Astor and his daughter and half for his late brother’s two children. So far, he’s received all of $25,000 in cash and the payment of $90,000 in tuition bills for three of his grandchildren. Yet his remaining share, all held in a trust, is just $500,000; it was whittled away by his share of $420,000 in legal and accounting fees and $490,000 in estate taxes.
3 — Ref. //www.forbes.com/free_forbes/2004/1213/230.html
FeesDatesBilled As
Sadie Astor Estate
$90,0001999-2001Attorney fees
$52,0001999-2001Accounting fees
$25,000July 7, 2000Executor fee
Sadie Astor Trust
$31,3391995-2001Attorney fees
$38,9601995-2001Accounting fees
$112,000December 18, 2000Deferred Trustee fee
$72,399October 31, 2002Legal Defense fees
Sources: Court filings
Poor Astor has so far only received $25,000 and currently lives in a middle-class home in a middle-class neighborhood.
  • If you work with us you won’t be in Astor’s position. You get the best in the business by an award-winning financial planner backed by professional attorneys, tax specialists and accountants who look after you and your family’s best interests
  • You get a total, solid, major layer of protection and safety net against unforeseen lawsuits

We’ll Work with Your Own Lawyer to Teach You How to Protect Assets From Lawsuits

We understand that you may have a good, solid relationship with your lawyer and many years of building trust with him or her. So Estate Street Partners is willing to work with your lawyer(s) and develop a solid, successful financial roadmap for protecting your assets. We will work closely with you and your lawyer to develop a plan for you and maximize your potential for protecting your assets, reducing your capital gains tax, eliminate the hugely expensive probate process, eliminate estate and inheritance taxes and possibly eliminating your income taxes.
  • Maximize your potential to protect your assets
  • Receive more advanced strategies & countless advanced techniques and strategies not found anywhere else
  • You can significantly increase your wealth preservation
  • You receive an international & domestic network of bonded and licensed professionals who are specialists in their area
You will also receive our most advanced strategies that we can implement for you such as designing complex re-allocation of your assets and distribution of your wealth based on set criterion or offshore asset protection strategies and planning. For instance, you may specify that in order for your children to inherit a portion of your money by the time they reach a certain age and after they have completed college or they may be restricted to use the money only for their college education. Additionally, you can receive the best foreign asset protection strategies offering you extra layers of protection from frivolous lawsuits and creditors.
There are countless advanced techniques that your lawyer may or may not know. Your lawyer has acquired a certain set of skills and has become a specialist in certain areas. However, the reality is no lawyer or no one person can be a “jack of all trades” expert. You’ve hired your lawyer because he or she is an expert at one thing not because he can also devise a complete and complex asset protection system for you or understand every intricate detail including everything there is to know about every foreign accounting policies.
With Estate Street Partners you will receive an international and domestic network of bonded and licensed professionals to maximize your tax efficiencies and asset protection so you siginificantly increase your wealth preservation.
Don’t take your chances unnecessarily. You can call us for a completely FREE consultation toll-free at 888-93-ULTRA (888-938-5872). There is absolutely no risk, no obligation and no sales pressures to our call. And you benefit with total privacy and confidentiality.

Why NOT to Look for the Cheapest Attorney for Your Trust…

“Dear Mr. Beatrice: The information I learned from you is absolutely invaluable. I have listened to many “asset protection” attorneys. Their way of providing business asset protection is to buy more liability insurance and to eliminate the estate tax is to buy more life insurance. You don’t think they have a retainer contract with the insurance companies, do you? You’re underselling yourself. The topic of asset protection, probate elimination, and estate tax elimination is complicated, you have found a way to simplify with one ‘Ultra Trust®.'”
— Jeremy K., California
You’ve heard of the old adage, “You get for what you pay for”. Well, this applies so much when paying for a low-cost lawyer who only sees one perspective and cannot see the bigger picture to give you a clear roadmap for financial stability and success. The bottom line is the contract your lawyer gives is only as good as the words typed on the paper. Without the advice of a top team of professionals and an award-winning trust and estate-planning expert on board, a one-person lawyer simply cannot match.
  • Will you sleep soundly with your hundreds of thousands of dollars or even millions of dollars worth of assets on just a few pages of paper?
  • Does your lawyer completely understand all aspects of financial planning including the more advanced, complex strategies and the intricacies of offshore asset protection and liabilities specifically engineered for your needs?
  • Do you want to take your chances on your hard-earned money and assets you’ve worked your entire life for day in and day out just to save a few bucks?
  • Does your lawyer understand Foreign Asset Protection Trust or how the Medicaid nursing home spend-down affects you and your family?
  • Avoid the financial-draining, life-draining, frustrating and full-of-headache processes of the legal probate process usually lasting 4 months to 3 years
Estate Street Partners understand your needs and understand what you need for solid, surefire protection, privacy and stability during and after your life.
We are unequaled. We are unmatched.

You Get the Best in the Business with an Award-Winning Trust and Estate Planning Experts

” Mr. Beatrice, I didn’t know those tax saving concepts even existed. Thank you for taking the time to explain it to me in everyday language without the professional jargon.”
— Karl K., Florida
You will receive the “Mercedes-Benz” treatment for total and complete privacy with client/attorney privileges and a team of professionals will manage your assets. Our team is composed of an award-winning Trust and Estate Planning Expert, a Top Team of Professional Accountants, Appraisers, Attorneys and Wealth Management Personnel to Service Your Personal Needs who wish for Superior, Uncompromising and High-Yielding Financial Goals.
  • Fast, Effective, Personal Service yet Uncompromising security and privacy
  • Credible, award-winning financial planner so you receive premium security, privacy and protection
  • Complete asset protection for high-liability companies such as investment firms, mutual fund brokers or bankers

Your Personal, Exclusive, Alternative, Chartered Roadmap to Substantial Success

We pride ourselves to be the best and provide you with a fast, step-by-step optimal blueprint for whatever your needs are in asset protection and when it comes to securing your privacy you receive nothing but the best in the business. All our clients have a discerning and discriminating eye for exceptional detail which inevitably lead to an exclusive, alternative, chartered roadmap to substantial & accelerated success with our premium Ultra Trust®.
  • Do you need to expand your business overseas to Hong Kong, China, India or anywhere else in the world?
  • Have you lost your merchant account because of charge backs or some other excuse the banks gave you?
  • Do you need to learn how to protect assets from lawsuits with the best asset protection TODAY and NOW? You’ll receive FAST, Effective and Superior, Uncompromising asset protection

Why You’ll Get the Best Roadmap for Successful Privacy and Learn How to Protect Assets From Lawsuits

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They just don’t teach this stuff in college. Some of these guys walk around with business cards indicating international business but they just don’t have a clue on how to conduct business in a foreign country. They read textbooks and they try to apply textbook principles but some of them have never worked in business or left the country. They never heard of an IBC or Foreign Asset Protection Trusts or double stacking trusts or U.S. reporting requirements. Their only advice is to talk to your accountant or lawyer. Wait a minute are they not the educators?”
— Edward K. Colorado
  • Defer your taxes till it’s more convenient for you and do it legally
  • Chartered blueprint for successful transfer of your wealth with optimal tax efficiency
  • Step-by-step consultation with unlimited support
You will save thousands of dollars with our “Full-Service Premium System” of asset protection and financial management. Consider the value of everything you will receive as a Full-Service Client…
Most lawyers charge by the hour and when they issue you a contract they give it to you then basically leave everything in your hands. I’ve seen lawyers charge as low as $2,000 but it’s not worth the paper it’s typed on. It was literally only 5 pages.
Do you really want to trust your entire fortune and life on only 5 pages of legal advice and someone who only charged you $2,000? If you paid someone $2,000 could you walk away knowing that the person would protect hundreds of thousands of dollars or millions of dollars worth of your assets? Could you really sleep like a baby with this looming over your head day in and day out? I know I wouldn’t.
You alone pay your home insurance $40,000 over your lifetime (average cost of house insurance over 20 years is $2,000 per year on a $900,000 home. Multiply this number by 20 years equals $40,000). Your life insurance policy over a lifetime could be a staggering $250,000 (based on the average life insurance time table of $10,000 per year for a male after 55 years of age for a $500,000-$750,000 life insurance policy with 25 years left till death) and just for a simple thing as installing an alarm system for your home is $150 per year so over your home’s lifetime of, say, 20 years you pay approximately $3,000. And this is only for an alarm system.
The alarm system, though, important won’t save you from the probate procedure; it won’t reduce your capital gains tax nor your income tax; the alarm system can’t eliminate your estate or inheritance tax; it surely can’t devise any complex and advanced offshore asset protection strategies nor provide you with a sense of security knowing your money and assets are secure; it doesn’t have the advantages of a pool of international and domestic bonded and licensed professionals ready to help you with superior estate planning and asset protection; lastly, it doesn’t save you from the Medicaid nursing home spend-down program when you or your spouse need to be admitted to a nursing home. You think your lifetime’s worth of hard work is worth more than $2,000 or even $3,000 and 5 pieces of paper? I won’t answer this because we all know the answer to this one.
So let’s think about a low-cost lawyer who charges $2,000 to protect ALL your assets and money that you’ve worked so hard your entire life for, waking up when you didn’t want to, feeling totally drained but you needed to work to pay down that mortgage or help pay for your son’s or daughter’s college. So do you feel TOTALLY and COMPLETELY SAFE and SECURE knowing ALL your assets are a surefire bulletproof protection system when the weather starts to get rough?

Sleep Like a Baby Tonight…

“As an insurance agent/broker I’ve gone through a lot of courses looking for this information. Your knowledge and crystal clear advice helped me improve upon the advice I give my clients.”
— John S., Massachusetts
  • Save thousands of dollars by saving you and your senior parents from the nursing home spend-down program
  • Reduce your income tax by up to 20 years
  • Instantly eliminate your estate taxes
Consider who will be working with you closely to help cater to your specific needs and customize a complete, rock-solid roadmap to ensure you are protected and totally safe from civil lawsuits whether it’s frivolous or not. You will not receive just ONE PERSPECTIVE OF one attorney or one accountant or one financial planner. You literally have a team of professionals furiously working hard so YOU CAN SLEEP LIKE A BABY at night.
If we broke the individual costs down, you would pay an accountant an average of $300 for nth amount of work hours and $400 for an average financial planner (a top financial planner charges a minimum of $700 and commissions of 2% of your assets) and then an average one-person attorney would cost you $2,000. Add this up and it’ll end up costing you $2,700 and this is YOU doing ALL the work and YOU will have to ensure that ALL the pieces fit together.
So you’ve saved some money to protect ALL your assets worth hundreds of thousands of dollars or even millions. Do you feel SAFE and SECURE with a do-it-yourself approach?
Any mishap in your contract, any mistake or any missing sentence could render your entire contract COMPLETELY USELESS and VOID. If you paid for home insurance and you saved a $100 a year from a low-cost insurance agency and you lived in the Katrina disaster region but you weren’t covered for flood and water damage what good is that savings to you? Likewise, if you paid a low-cost attorney who ONLY sees ONE PERSPECTIVE and doesn’t see the ENTIRE PICTURE of your needs and there is one or two vitally important sentences missing then you could lose EVERYTHING!
Why take your chance?
Four years ago, a gentleman in Florida called me up who was on his deathbed. He had real estate holdings and businesses with a net worth of more than $12M. He decided not to pursue my recommendations and instead chose to go to his local attorney who created a 2 page revocable trust that cost him $2,000. On his death, the family was forced to liquidate the business and sell the real estate at fire-sale prices in order to pay the IRS $6.5M in estate taxes.
They ended up with only $2M after the forced sale of assets. If we view this from a purely monetary perspective, was saving a couple of thousand dollars really worth $6.5M? We have to think about ALL the stress, the frustrations, sleepless nights, the legal back and forth talks, the arguments and disagreements on the home front and the ulcers and heart-wrenching feeling they had to live through. It is a decision that the family will have to live with the rest of their life.
You don’t have to go through this ordeal! You’ll know that an award-winning financial planner and a team of professionals will customize a winning and successful financial plan suitable to your needs and build you a SUBSTANTIALLY MORE SECURE asset protection blueprint for your success. Why leave take any chances on something you’ve worked so hard for your entire life?

Our Guarantee: We Don’t Waste Your Valuable Time

“Rocco, I have known you since a little boy from Italy. Then you counted on me for education advice, now the roles are reversed. I rely on you for financial advice to protect what I have left for my family. I wanted to let you know I’ve read your material on the Ultra Trust®, word for word; I find it to be very well laid out, easy to comprehend, and compelling to action There’s absolutely no excuse for delaying the implementation of an asset protection fortress.”
— Joe P., Massachusetts
  • FREE consultation, no obligation and no pressure with total transparency in a step-by-step, clear, successful, easy-to-understand direction and time line
  • Professional, superior and uncompromising financial wealth management
If you believe that I’ve wasted your time and that you’ve learned nothing from me or my FREE seminars or my eBook then I’ll pay you! If you don’t get enough solid, practical, full of meat information from my FREE seminars, my book or from talking with me about your specific personal financial goals and wealth management strategies then I’ll pay $50 dollars to the Habitat for Humanity. Yes, I’ll pay out of my own pocket just for listening to me. That’s how confident that I can help in the finding the right plan for you. Call me today at this toll-free number 888-93-ULTRA (888-938-5872). I’ll give you no sales pressure. This call is risk-free and there’s absolutely no obligation. So why not call right now to how to protect assets from lawsuits?

Learn More on How to Protect Assets From Lawsuits the Right Way 

Option 1:

Call this toll-free number 888-93-ULTRA (888-938-5872) and talk to me directly and learn how Estate Street Partners and my entire team can help you reach your financial goals whether it’s to avoid probate, eliminate your estate taxes, reduce your capital gains, eliminate your income taxes, devise a complex asset protection system, avoid the Medicaid spend-down, protect your assets offshore or any other advanced financial strategy. You don’t get any sales person pressure from me. Just speak to me about your personalized needs. No risk. No sales pressure. No obligations. Just FREE information for you to make the right decision.


Option 2:

Click this video link play video button-tutorial how to protect assets from lawsuits to view a video anytime it’s convenient for you. (Please be patient and allow 30 seconds to download this video. Another window will open. Thank you for your patience.) You’ll learn more about which trust is most suitable for you, the tax-savings tips and deferrals you can get, how a foreign asset protection trust can help in your circumstance, what are the Medicaid restrictions and regulations and what you can do about it and much more jam-packed information.

  • Learn tax-savings tips and tax deferrals strategies
  • How the Medicaid affects you and your elderly parents
  • How Medicaid Nursing Home Spend-Down program can significantly impact your finances and your life
  • When setting up a Foreign Asset Protection Trust is ideal for you
  • Which trust is most suitable for you
  • And so much more…

Bonuses Worth Thousands of Dollars When You Learn How to Protect Assets From Lawsuits

  1. FREE Book Delivered Straight to Your Door on “How You can Save Even More Money with Property Tax-Saving Tips and Asset Re-Allocation”. This book alone can save you thousands of dollars.
  2. Bonus offer Partner Medical Rights (retail value $750).
    The Florida family Schiavo national tragedy would not have occurred as played out in the courts of Florida, the White House and Congress if they had purchased the medical directive. That is the strength of my work.
    PMR™ allows you to grant your guardian many rights:
    • Avoid frustrations by allowing your guardian first priority for visitation in hospitals
    • Make them feel at ease by receiving information about your conditions
    • Give them control by authorizing medical treatment if you are ever incapacitated
    • You authorize for them to release your remains from a hospital
    • Empower your guardian to make provisions for services and last requests
    Did you know that more than 80% of Americans die in a hospital or other care facility? In a medical emergency or crisis, Partner Medical Rights™ may save your life by allowing your guardian to make the proper medical choices immediately and ensure that you receive the appropriate care and treatment without court challenges.
    By law, doctors must consult an immediate family member to decide on medical treatment. Your family might make decisions that do not conform to what you want or have planned for. Problems arise when your spouse and family members have conflicting views about the necessary and appropriate medical treatment.
    In many scenarios these battles wind up in court with a judge, who may have limited medical knowledge and no familiarity with your medical preferences, deciding on your medical treatment. Such legal battles are expensive, time-consuming, and have great emotional repercussions. It can even be life threatening in an impending medical emergency.
    This is precisely what happened in the Shiavo tragedy in Florida in 2006.
    With the care and foresight to plan ahead with Partner Medical Rights™, these emotionally anguishing legal, lengthy battles can be avoided.
    You receive this as a FREE gift only from Estate Street Partners valued at $750 in legal fees. You save money; you regain total control of your life and leave the outcome to your loved ones as you wished it to be.
  3. Bonus offer Partner Financial Rights (retail value $750).
    Are you able to take care of these types of transactions now? Do you have financial responsibilities?
    It is critical for you to know that without the Partner Financial Rights no one will be able to manage your finances. Unless a guardianship proceeding is filed in court, your closest biological family members can have priority of appointment over your loved one.
    Plan ahead and protect yourselves. It will help you make the financial decisions of your relationship without running the risk of being challenged by relatives for misappropriation of funds. Nobody wants legal entanglements to tie up their finances for months or even years.
    It is important to carefully choose a person you trust for your PFR™ due to the enormity of financial control you will give. With that said, we remind you that limiting the power given to your agent/guardian is a feature addressed in detail within the Partner Financial Rights™ document.
You receive this valuable gift which normally sells for $750 absolutely FREE as another bonus from me.

…everything to gain!

blue arrow pointing downJack Love, a victim of probate, was lead into a 9 year long probate battle of $1 million in cash left by his deceased wife of 46 years who passed away of Alzheimer’s. He only had a short two page will which ended up costing him $800,000 of that $1 million during the 9 years of probate proceedings. In addition, during probate they held his stock which lost $179,000 and held $500,000 in cash which resulted in $4.5 million loss in real estate because he couldn’t meet the notes. The $800,000 was distributed to the bank’s attorney, the probate attorney and the probate judge. In 2003, Jack’s housekeeper of 15 years ran into the bank attorney out in town. He laughed at her boasting that everyone spoke of the Love estate as the “Love Boat” because everyone was in it for the ride. By the way, Jack Love is 92 years old and living in just a middleclass home.
— James Banks “Creating Wealth Through Probate: The Best-Kept Secret in Real Estate Investing”
Here are the many benefits you’ll enjoy and reap by getting the best in your financial planning goals, blueprint of wealth management, superior asset protection and exclusive privacy:
  • Learn time-saving tips with a clear, personal roadmap for your success
  • Save tens and thousands of dollars in legal, accounting and appraisal fees by avoiding probate, reducing and/or eliminating your estate taxes, capital gains tax, income taxes
  • Reduce your stress, headaches and frustrations by knowing what your best options are
  • Avoid the lengthy and costly court proceedings
  • Increase you and your parent’s health and happiness with the government-subsidized Medicaid program
  • How to avoid being excluded from the Medicaid assistance program
  • Enjoy more restful nights knowing that you have the knowledge you need for your future’s financial well-being and wealth
  • Feel at ease knowing you are getting FREE information from an award-winning trust and estate-planning expert
  • International team of bonded license professionals catering to your personal needs
  • Increase your income by possibly reducing your income taxes
  • Reduce your taxes and make larger contributions to your retirement
  • Save on taxes by setting up Family Partnerships so it can be passed on with less tax liabilities
  • Exceptional wealth preserving strategies, avoiding taxes and a chartered asset protection
  • Secure, Stable, long-term income and healthy cash management
  • Flexibility so you can choose your lawyer if you desire
So call us now for a discussion on how Estate Street Partners can help teach you how to protect assets from lawsuits in your long-term, secure and stable financial growth. There is absolutely no obligation, no risk and no sales pressures and the call is FREE! Don’t delay. Call right now!  (508) 429-0011

Rocco Beatrice, award-winning trust & estate-planning expert

MS – Taxation, Master of Science Taxation

MBA – Management / Taxation

BSBA – Management / Accounting

CPA – Certified Public Accountant

71 Commercial Street #150 Boston, MA 02109

tel: +1.508.429.0011 fax: +1.508.429.3034

Brilliant tax deductions and essential wealth building ideas, that’s what I learned from you. When it comes to protecting assets, minimizing tax bites, and avoiding voluntary probate, there’s just not enough accessible good information out there. Thank you for taking the time and to make hear what I was not listening.
— Robert W., Michigan
PS – Remember, you receive the Partner Medical Rights and the Partner Financial Rights both valued at $1,500 when you order any trust from Estate Street Partners.
Plus, Estate Street Partners has split the payments in to easy monthly installments so you can get top privacy and asset protection for a clear financial and successful roadmap.
You’ll have all of this backed by financial strategies of an award-winning trust and estate planning expert and a team of bonded and licensed professional attorneys, tax specialists and accountants to give you the best secure and stable long-term wealth management.
There is no obligation, no sales pressure, no risk. Simply pick up the phone right now and call (508) 429-0011.
Mr. Beatrice, Thank you for taking my call. It allowed me to really understand why the attorney who spoke at an “asset protection” seminar the other night really doesn’t seem to understand asset protection; a scary thought! If I were just sitting in the audience without ever studying this stuff I would view him as an expert and go with what he tells me!!! Thank goodness I learned the best way how to protect assets from lawsuits from you and your team.
— Bob D., Massachusetts

2 – //www.nytimes.com/2006/12/30/us/30support.html

3 – //www.forbes.com/free_forbes/2004/1213/230.html

4 – not her real name