Nevada Asset Protection Trust Advantages
Nevada asset protection trusts offer a two year statute of limitations on fraudulent transfer and if the establishment of the trust and transfer of assets was published, such as a newspaper, the limitation can be as soon as six months
Asset Protection Trust
An asset protection trust is legal document called a “trust deed” that allows for items of value to be held, under the terms of the trust, by one or more trustees. In general, the trustee is duty-bound to carry out the intent of the settlor and act in a fiduciary capacity for the trust beneficiaries. The purpose of an asset protection trust is to keep assets out of the hands of creditors.
Asset Protection Planning
Asset protection planning is proactive legal action that protects your assets from future creditors, divorce, lawsuits or judgments. This involves a series legal and lawful techniques that can deter a lawsuit. It can also provide you with settlement negotiation power. Most importantly, it can help prevent the seizure of your assets in the event of a judgment.
There is a variety of legal techniques you can implement that provide a range of protective features. This can be from simple financial privacy all the way to judgment-proof asset protection. The planning is tailored to the assets, risk and comfort level of the individual or family seeking protection.
Asset protection planning is creating a complete financial plan taking one’s entire situation into perspective. The legal and financial vehicles used range from insurance policies, state homestead protection laws, business vehicles and estate plannings. With proper planning an individual can protect his or her lifetime of accumulated wealth, savings, real property, investments, even future income..
Asset Protection Strategies
Asset protection strategies are legal and financial plans developed to shield valuables from lawsuits. They includes analyzing a list of assets that need protection and determining which legal tool or strategy would ideally protect each one.