Your Assets are more than Real Estate
May 31, 2010 in Uncategorized by admin
Assets – More then Real Estate
If you think “Asset Protection” only means protecting your real estate, then you need to read this post.
Assets include much more than houses. Your assets include cars, boats, antiques, stocks, cash and anything else you own. If you own something, it’s an asset.
Many judgments have been settled through the seizure of assets other than real estate. Many states have homestead laws that prevent seizure of someone’s residence, but this protection doesn’t extend to other assets and everything else can still be at risk.
Stocks, bonds, antiques, vehicles, and more can all be seized to settle a judgment – if they belong to you.
If you have a judgment against you, your assets can be lost. If you own it, you can lose it.
However, you can’t lose something if you don’t own it.
If you grant your assets into trust, they no longer belong to you.
When creating a trust, you are agreeing to allow the trust (and trustee) to hold title (and ownership) of your assets. Trusts allow you to maintain control without ownership.
- - You can drive the car, but it’s held by the trust.
- - You can use the antiques, but the trustee holds title.
- - You can enjoy the sailboat, but the title is not in your name.
- - You can have access to the money, but it’s not yours.
You can place these items in trust and protect them the same way you would protect a house. You can keep from loosing these assets, just like a house.
Learn more by visiting our website; www.AssetInvestmentTrust.com.
Email questions to Greg@AssetInvestmentTrust.com
Greg Gardner
Asset Investment Trust