UltraTrust Irrevocable Trust Asset Protection

how to protect your assets from a lawsuit

Asset Protection, Estate Planning, Lawsuit

Fraudulent Transfers, Civil Conspiracy, Uniform Fraudulent Transfer Act

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 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…”     Watch the video on   Like this video? Subscribe to our channel.   Learn how to avoid incorrect transfers in this article (click here)   What are Fraudulent Transfers?   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.   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 “incorrect 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 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 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 incorrect 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

Asset Protection, Irrevocable Trust, Lawsuit

How to Protect Assets from Lawsuits, Divorce, Accidents

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 wealth; working their entire life to build, are at risk of being attacked because of one “frivolous” lawsuit. How to protect wealth from litigation 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 property?   Learn the 3 keys to protect wealth from litigation step by step (click here)     If We Can’t Help Teach You How to Protect Your Wealth from Litigation, Then You Don’t Pay One Penny…   Dramatically increase your armor against all types of litigation Save on your capital gains by deferring your taxes Know that your wealth is properly and safely assigned to your loved ones Complete control over all your wealth and reallocation of property 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 Wealth Protection and offshore financial planning if you have $10million or more, 10% should be in a foreign jurisdiction. Completely legal. You rely on the laws created for wealth protection, not secrecy. Filling all necessary IRS requirements, strengthens the actions taken. Finally, learn how to protect your wealth from litigation, divorce, and even from the Medicaid Nursing Home spend-down program.      Watch the video on How to Protect Assets from Lawsuits, Divorce, Accidents   Like this video? Subscribe to our channel.     I’ll get straight to the point and tell you the ONE Ultimate Secret to how to protect your hard-earned wealth from litigation 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 property from litigation. You use laws created for “asset protection” to protect your wealth. 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” things. The truly successful individuals have learned WHAT the absolute secret is regarding how to protect hard-earned wealth from litigation: that “control” is more significant than “ownership.” By not owning the property, they control frivolous litigation, 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 property is in the absolute control of others, there’s no control on how it can be transferred, thus avoiding frivolous litigation and allowing you to dictate terms to your creditor in any negotiation. 96% of litigation never goes to court because they are settled in a negotiation. We put you in a position of leverage when negotiating with your creditor.      The successful have also learned to diversify their wealth 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 Wealth From litigation by “Hiding Your Money and Property 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 wealth with various options. Remember, you still keep your total privacy of your property re-allocation but it’s still completely legal to the IRS because you still file all necessary forms that strengthen your 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 Wealth From Litigation…   No system will 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. Preventive maintenance, you don’t run your car 100,000 miles before replacing the oil. Planning ahead 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 property from litigation. Read on! It is never too late to improve protection. Anything is better than doing nothing. Don’t handout road maps to your bank account. 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. 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

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