Six Pillars of Asset Protection
Are you ready to withstand an attack on your wealth by creditors or predators? Today’s litigious society cares very little for your family and courts are becoming increasingly one-sided against the wealthy.
Using our Six Pillars of Asset Protection, we can show you how to preserve your wealth and protect it from future creditors.
Pillar One. State Exemptions.
Proper leveraging of existing state exemptions is the foundation of any asset protection planning. For example, in Nevada life insurance cash values are protected up to $15,000 of annual premiums.
Pillar Two. Insurance.
Maximizing liability insurance to protect assets is a must. Do you have the state minimums on car insurance? If so, you are exposed to high liabilities. Increase your limits. Do you have an umbrella policy? You should because they are so inexpensive.
Pillar Three. Limited Liability Companies.
LLCs or other corporate structures are a shield from creditors if structured properly. Aside from creditor protection, a Family Limited partnership or Family Limited Liability Company can also save your family up to 50 percent in estate and gift taxes.
Pillar Four. Nevada Asset Protection Trusts.
These are ideal as the liabilities increase or your net worth increases.
Pillar Five. Offshore Trusts.
The king of all asset protection planning is offshore trusts. These tools are perfect for many types of clients. We do not engage in any income tax evasion planning, in fact, there is no tax advantages to this type of planning in most cases.
Pillar Six. Marriage Planning.
If you live in a community property state like Nevada, California or Idaho, there is much that can be done to shift assets from one spouse to another without planning for divorce.
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