Why the Ultra Trust® is one of the best asset protection plans? The trustee must be independent
ance policy, your automobile, your residence and anything else you own of value. If you have children under the age of 18 you may run the risk of a lawsuit if your children get into an accident. You may have read about children crashing their parents’ car due to drinking. If your children crash your accident whether is was caused by drinking or not since all your children have to be is liable for the accident then you, the parent, will have to step up to the plate. You, the parent, can be liable for third-party lawsuits and all your assets are not protected and you can lose everything you’ve worked your entire life for. I’ve been there where I had to bail out for my children’s faults. I’ve walked around with an open checkbook. If the Ultra Trust® owns the motor vehicle, you can reduce the premium and possibly you will not have to buy a huge liability insurance. It’s an effective device.
Rocco Beatrice, CPA, MST, MBA, Managing Director, Estate Street Partners, LLC.
Mr. Beatrice is an asset protection award winning trust and estate planning expert.
- Part 1 – Estate Street Partners
- Part 2 – What is the Ultra Trust®?
- Part 3 – What is a Trust?
- Part 4 – Asset Protection Plan
- Part 6 – Irrevocable Trust Tax Benefits
- Part 7 – What is Probate?
- Part 8 – What is Estate Tax?
- Part 9 – Medicaid Spend Down Rules
- Part 10 – What is the Ultra Trust®?
- Part 11 – Irrevocable Trust Benefits