Estate/Asset Protection

Over the last 80 years or so it has become more difficult for Americans to keep what they earn. Under today’s rules what is yours is yours – until the tax collector or someone else finds a way to take it from you.

Asset Protection: The act of placing your assets in a position where no one, other than those who you have selected, can ever gain access to them.

The ultimate goal should be your willingness to give a creditor (including the Internal Revenue Service) a copy of every document and the details of every entity that you have used for asset protection and tax benefits. The documents should tell your creditors they simply do not have the ability to get your assets. This goes back to the rule, if you are going to do it, do it right. Don’t take any unnecessary or unwarranted chances that create a greater liability than the one you are trying to avoid.

Having said all of this, we all know that we live in an imperfect world; a world where frequently situations develop that were not planned… a world in which defensive actions frequently do not take place until some entity has taken the offense. We are frequently asked, what if someone has already taken an action, are there still options available to me that will protect my assets? The answer to that question, most often, is yes! Even after actions are in place, the options we have discussed are still, in most situations, available to you.

To find out more about protecting your assets, call us at (800) 929-1RBC Ext. 111