How An Asset Protection Trust Can Save You From U.S. Courts!

Asset protection trust is key to the whole plan

Having the domestic parts of your asset protection plan is very good. We set up most of our limited partnerships in the state of Arizona because it gives us strong statutory protection. Although this does provide a first layer of defense there’s a problem and that’s principle number two. Principle number two is possession which is only 9/10ths of the law. Make sure that you use this to your advantage and you are not having this used against you.

Even with a great domestic plan with four limited liability companies, a rock solid asset management limited partnership which is done properly and aged well, the U.S. court can decide that they are going to pierce your plan. The U.S. court can do this because they have the power to do so and if at any point they feel unsympathetic towards your case for whatever reason you can not be 100% assured that your assets are protected in purely domestic plans. This is where the asset protection trust comes into play!

Moving your assets beyond the reach of U.S. courts!

The asset protection trust is an international trust and it allows you to do a few very important things.

• Separate ownership from beneficial use and control.
• Enables you to move the assets beyond the reach of the U.S. courts.
• Away from a U.S. judge and jury.
• Away from that possession is 9/10ths of the law.

This gives you possession and puts you in the driver’s seat. After all this is what asset protection is all about!

Where we are today and why you need a plan in place

Lawsuits have increased dramatically within the last 4 years than in the previous 14 years combined. We see it in our office all the time. We have triggered and needed to use more plans than is the previous 14 years. The reason for this is because the economy creates a lot less money and when there’s less money there’s more conflict and more people fighting for that money.

What this means for business owners is more partnership disputes, more lawsuits in general designed to simply move assets from the person being sued to the person suing. This is great for the legal system because it means more advertising for plaintiff’s attorneys. I’m sure you cross these advertisements on a daily basis. It’s more important than ever that you have a plan in place, you maintain your plan, and that it’s updated properly.

Have additional questions about updating your current plan, asset protection trust or general questions about asset protection. Give us a call at Lodmell & Lodmell. There is no question to small or too big for us to handle.