There are numerous ways to protect your assets. Some may be appropriate for all to use in everyday life, while others may be more appropriate for those with substantial assets that require more sophistication (albeit higher costs) to accomplish the necessary protection. Asset protective measures are also unique to the location and types of assets that need protecting.
Almost all types of asset protection have some sort of common thread that connects them together. This common thread makes it more difficult for a creditor or anyone to locate or attempt to seize them. By utilizing a properly implemented asset protection plan, an individual can legitimately put a rather significant portion of assets out of reach of creditors as well as judgment creditors. The object is accomplish this while retaining a semblance of control over these assets. If the plan is structured properly, the end result would be the destruction of any type of monetary incentive to litigate on the part of a plaintiff.
Asset Protection Trusts are often utilized to insulate assets from such an attack. This is established in an offshore jurisdiction that will control the assets held in the U.S. to be protected under indirect control of the person (settlor) establishing the trust. The object of these trusts is to create an entity that is irrevocable for a set term of years and the settlor is not the current beneficiary. This type of trust makes it very difficult for creditors of the settlor to attach the assets of the trust. The trust is structured so that the assets of the trust are eventually returned to the settlor to regain control with regards to distribution.
This type of trust not only discourages creditors from pursuing litigation against you, but it becomes difficult for anyone to assess ownership and responsibility. This type of protection is very strong…Very Empowering…
Being an entrepreneur has given me a deep appreciation for individuals who are success oriented and never give up. The drive to always “push through” is a trait of successful people.
I have been fortunate to associate myself with many successful individuals over my life. It began with my father who instilled in me the ability to step outside of the box…to create something out of nothing. He taught me the importance of integrity in business...traits that I have incorporated into the various business models I employ.
I spent the first ten years of my career in the medical field. I worked side by side with amazing individuals who put their own self-interests aside in order to nurture others back to good health. Many times I witnessed life and death situations. It was always humbling to experience the team-work that evolved around trying to save a lives.
As my career path evolved into the business world, not only could I bring those experiences into my persona, I saw a need to spread information…real information for real situations. A close friend of mine began to mentor me in aspects of blogging. He has given me incredible insight into how a blog should be developed…how to focus my passion for helping mentor people to becoming successful entrepreneurs. This passion for mentoring others began when I was a young child and continues today. It is not about me, but rather those who have influenced my life.
I am a work-out addict and a real “ski dog”. Sorry guys and gals…I do not “ride”. I live for deep powder and steep chutes. I love the feeling of looking over the edge of a steep run…feel my heart beat faster with that adrenaline rush and then “jump in”. I love golf…but I always wonder if I will ever break 100…lol! Most of all, I love my wonderful family…they are the best! Thanks for stopping by and I hope you feel empowered today.
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Martin Casper
