Disclaimer: This is based on my personal and professional experience. However, it is best to consult a lawyer or an accountant for further clarification.
Today we are going to talk about your property and what you can do to protect it. Some of you may have recently purchased or invested in real estate, but do not really know how to secure your investment for the long term. It is difficult not to have a guarantee that protects an investment on that you have spent thousands or millions of dollars. It is better to listen to the personal and professional experiences of how these people managed to protect their investments.
With my years of experience, I have found that the best way to protect your assets is to put them in a Trust. I have done this several times and at this point, it only takes a few minutes to place the property in Trust.
Here’s how it works: choose a proxy, and choose someone you trust. Two important documents will then be entrusted. These are the Certificate of Trust and Declaration of Trust.
This has several advantages. For example, someone sues you for an accident involving your home. They will see that the Trust is proper and will extract more information from the Trust.
But they will see that the Foundation has nothing else because what I have to do is to put all the assets in separate foundations under their names.
The lawyer usually gives up when he sees that the foundation has only one asset. They know how tedious it is to go through this process, especially those who belong to LOC.
Another benefit is that if you are ever married to someone who owes child support or taxes, their financial obligations will be tied to the house. But when your home is in trust, no one can touch it.
For me, that’s a good thing. It gives you peace of mind and protects your rights as an owner or heir. Taking the first step may be a challenge for you, but with the right attitude and focus, you should be able to find a way to protect your investment.
Again, it is important to consult your lawyer and accountant for additional information.
Protect your assets and seal your future. If you have more questions, feel free to contact us!