Category View (Asset Protection)

Find yourself in the enviable position of the sale of an asset which could trigger a capital gain event? First, be thankful you made a profit. Then, figure out a way to minimize your tax liability. The laws are there for those who are astute, to take advantage of. One such strategy is called a Deferred Sales Trust and here’s how it works. At some point before closing, you set up a trust and convey ownership of the asset to which the proceeds of your sale shall fund. This Trust will act as a tax shelter exempt from income, depreciation recapture and be protected from creditors or more...

If you are serious about investing in real estate or starting a new venture, you need to know about the many advantages of incorporating your business.  For many investors and small business owners, the benefits of forming a limited liability corporation (LLC) are significant.   Learn all the tax and business benefits of an LLC and the specific steps needed to create one...We are running a FREE Webinar on December 10, 8 p.m. EST. Learn How to Incorporate Your Business and Save Money With an LLC We will show you how to: Protect your personal assets through liability protection Deduct many business expenses such as tuition for more...

On November 12th at 8pm EST, Trump University will feature a FREE time-sensitive webinar, Protect and Grow Your Assets. Wealth expert and attorney J.J. Childers (author of Trump University Asset Protection 101) will discuss wealth creation and wealth protection--must-have information in today's turbulent economy! Space for this webinar is limited, register now for our Asset Protection webinar if you want to reserve a spot. J. J. Childers will teach you how to: Pay the Absolute Least in Taxes Keep Yourself and Your Family Financially Secure Weather the Economic Storm Successfully Start Your Own Business Here are the details for this event: DATE:  November 12, 2008 TIME:   8:00 p.m. EST If you more...

Along with taxes and spring cleaning each year, should come a time of introspection into your assets.  Do you carry the right amount of insurance to sufficiently protect yourself and your possessions against unexpected perils?  I am talking about the third “must do” besides death and taxes...Insurance and how to make it part of your asset protection program.   I am surprised at how many people have no idea about what their insurance covers, what endorsements they are paying for, or what deductibles they have.  They spend thousands each year between health, accident, auto, home, liability and commercial insurance and much of their more...

Many people mistakenly believe that they don't need an asset protection plan because they're insured. Nothing could be further from the truth. While insurance does have a place in your asset-protecting system, it must not be your only line of defense. Insurance proceeds are only paid in accordance with the terms of the policy. Sure, insurance companies are in the business of accepting the risks of others, but it's on their terms. Think about how casinos make their money: Casinos know that some people are going to win at the tables, for example, but because far more people lose than win, at the more...

One of the biggest misconceptions I hear about asset protection law - even from other lawyers - is that everyone should have his or her personal residence owned by a business entity such as a corporation or LLC. This is a huge mistake. I realize that this may sound counter-intuitive, but your home should always be owned by you and your spouse and held in a revocable living trust. (I discuss revocable living trusts in detail in my new book Trump University Asset Protection 101. You can also learn about them from your attorney and accountant.) So why wouldn’t you want to have more...