and Lawsuit Prevention
Total Asset Protection -
Legally, Quickly, Conveniently, Inexpensively and Anonymously
Everyone should have a living trust, to avoid probate
Why a Living Trust?
Everyone needs and should
have a living trust. If you have only a Will, that Will must be
verified by a probate court before it can be enforced and assets
distributed to your heirs. Probate costs many thousands of
dollars and can take up to 2 years to complete. That is time
your heirs have to wait to collect their inheritance, and needless
money out of the estate before they collect.
Joint ownership does not
avoid probate, it only postpones it.
Also, because a Will only
goes into effect after you die, it provides no protection if you
become physically or mentally incapacitated and unable to sign your
checks or manage your assets and affairs. So, the court could easily
take control of your assets while you are alive once you become
incapacitated - and after you die. With real estate, all owners must
sign to sell or refinance. If one spouse becomes incapacitated, the
other spouse can find themselves with the court as their co-owner.
A living trust
avoids this unfortunate situation.
If you cannot conduct
business due to mental or physical incapacity (for example
Alzheimers, stroke, coma, etc) only a court appointee can sign for
you - even if you have a Will. The court, not your family, will
determine how your assets are used to take care of you. If you
recover, it is difficult to gain control back. A power of attorney
is not enough, as they can't be used to avoid probate and many also
end at incapacity.
A living trust
avoids all probate, and lets you keep full control of your assets
while you are alive, even if you become incapacitated.
What is probate?
Probate is the legal
process by which a court determines the legitimacy of your will and
your heirs and distributes your assets according to your will.
Without a will, your assets are distributed as the court sees fit
and according to your state's laws.
Call Now to Speak to a Live Consultant.
Global Asset Advisors, Inc.
'A+' BBB rating
(continued from left page panel)
What is a Living
A living trust is a legal
document that looks somewhat like a Will. It includes your
instructions for what you want to happen to your assets when you
die, just like a Will. But unlike a Will, a Living Trust avoids
probate at death, allowing your heirs to collect their inheritance
right away. And it prevents the Court from controlling assets if you
become incapacitated. It allows you to appoint in your Trust your
choice of who will make the determination of incapacity, and a back
up for that person, and who will manage your affairs for you. That
can be your spouse, another family member or a friend.
How Does A Living
Trust Work with Asset Protection?
A living trust has no
asset protection from lawsuits or creditors. However, it can be
named as owner of the structure that does protect your assets, such
as your family limited partnership or LLC. That way the assets are
protected while you are alive, and pass immediately according to
your wishes, when you die.
Legally, you no longer
own anything in your personal name (everything is owned by your LLC
or partnership which you own and control completely, which in turn
is owned by your Living Trust, which you control completely.) There
is nothing for the Courts to control or get involved in when you die
or become incapacitated.
With the combination of a
LLC and/or FLP and a living trust, you can do anything you could do
before - buy/sell assets, or change your trust at any time if heirs
or assets change. You even file the same tax returns. Nothing
changes in how your affairs operate.
Estate Tax Savings
with a Living Trust/FLP
A living trust that owns
your family limited partnership can double your estate tax exemption
threshold. Your CPA can explain why.
Asset Protection Service - Asset
Protection Strategies - Asset Protection Planning - Nevada
Corporations - Offshore Corporations - Offshore Trusts - Bulletproof Asset Protection Nevada LLCs - Limited Partnerships