Living Trust - Asset Protection Service

As part of an asset protection service, certain types of trusts enable you to manage your assets and control what happens to them when your days on this earth are through.

A revocable living trust is a legal document that includes your instructions as to what will happen to your assets when you die. It is similar to a will in this regard, however, unlike a will a living trust avoids the lengthy probate process and expensive fees at death. It also prevents the court from controlling your assets if you become incapacitated. In addition, it gives you (not the courts) control of the assets you leave to others, such as your minor children or grand children.

You do not lose control of your assets when you put them into a typical living trust. You can continue to buy, sell, mortgage, etc. just like before. You can cancel the trust at any time.

A revocable living trust does not, in and of itself, provide asset protection. However, it does avoid probate and allows you to keep control. There are a few tricks that will enable your trust to provide some semblance of asset protection.

Land Trust - Asset Protection Service

Land trusts can provide asset protection benefits by providing you with privacy of ownership. If no assets can be located, this drastically reduces the odds that a suit will be filed. Each piece of real estate is placed into a separate land trust. So, that when a lawsuit is associated with one piece of real estate, each piece of property is titled to a different trust. This makes it more difficult for an attorney to discern whether or not you are associated with more than one property. In addition, we will often form an LLC, that you own, that records second mortgages against all of your properties to further reduce the appearance of your net worth to a hungry litigant.