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Maintaining Control of Your Assets How do you minimize the chances of
losing assets? By becoming a small
target. How do you become a small
target? By shrinking the size of your
estate so that you do as John D. Rockefeller said, “Own nothing and control
everything”. That is the key. You, of course, do not want to give up
control but you can give up ownership in such a way that a plaintiff will
lose the leverage of fear. This can be
accomplished through a combination of domestic and foreign structures. Be careful not to do the “poor man’s asset
protection” by just transferring assets to a brother, sister, mother or
friend. This is not a good idea. It is extremely transparent to a plaintiff
attorney and will result in serious IRS tax problems. Are These Techniques Legal? Absolutely! The rich have used asset protection for
decades. They use these very tools and strategies that are discussed by
FDL. They are legal, effective and
can give you the peace of mind you have earned. Example: Have the Nevada Corporation put a
lien on your major assets such as your home, rental property, or business
property. Now, there will be no equity
if someone should come snooping around looking for a deep pocket, they won’t
find it. The Nevada Corporation can
hold trust deeds, or UCC-1 filings. |
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