ASSET PROTECTION PLANNING
At Contego legal, we can help you design and implement your asset protection plan before you need it.
They can’t take what you don’t own.
In today’s litigious society it only takes a few hundred dollars to file a lawsuit and the plaintiff doesn’t even have to have the money to pay his or her attorney. It is not a matter of if you will get sued but rather when you will get sued. So when you do get sued you need to be ready. We have all heard the age old adage “they can’t take what you don’t own” and this statement is very true.
At Contego Legal, we will design and implement an asset protection plan to allow you to control your assets while owning very little.
There are several asset protection planning rules you need to understand.
Rule number one is trust no one.
Don’t trust your CPA, your attorney or your business partner. This includes not talking about your assets to people who have no need to know your business.
Rule number two is get your assets off your balance sheet.
We will utilize a trust and limited liability companies to remove assets from your balance sheet while still allowing you to maintain control over the assets.
Rule number three is get your assets out of dodge.
Your asset protection plan will include a trust and a limited liability company that will be established in a foreign jurisdiction so the assets will be out of the reach of potential creditors and predators. Your asset protection plan will allow you to choose the jurisdiction. The jurisdictions commonly utilize do not recognize judgments rendered in the United States. This means a creditor or predator will need to sue you in the foreign jurisdiction you choose if he or she wants to attempt to obtain access to your assets.
Your asset protection trust will be designed to be tax neutral, it’s a flow-through entity for tax purposes separately recognized for legal purposes.
Asset Protection Trust
This is your trust, it’s a bucket, it’s designed to work with the trust companies to take your assets off your balance sheet and get them out of dodge while you still get to enjoy these assets. Remember, what you don’t own can’t be taken from you, that’s the key and purpose of using an asset protection trust.
Remember, what you don’t own can’t be taken from you, that’s the key and purpose of using an asset protection trust.
How does it work?
We designed a straightforward process to guide you every step of the way, making it easy for you to design and implement an asset protection plan that will protect your assets from creditors and predators.
Whether you have significant assets or a modest estate, Contego is here to help you create a plan that brings you peace of mind and security.