4.70 (27 reviews)
☑ Why Trusts are essential for Businesses
If Your Assets Aren't Protected...Luck Is The Only Thing Stopping Some Slimy Crook and His Lawyer From Taking Them... Is Luck!
Every Single Day in The United States Alone, 109,589 Lawsuits Are Filed...
Without a system to protect your wealth and assets, they are in danger every single day that you do business. Simply put, just one frivolous lawsuit by one gold digging attorney and your entire life’s work – wealth and assets – can be gone. That’s the biggest reason why I designed Three Secret Ways to Protect Yourself From Lawsuits … to protect myself and good people like you from nuisance lawsuits.
In the California case Peake vs. Underwood, a buyer filed suit two years after purchasing the property stating that the seller had not disclosed the condition of the property when it had been sold. The buyer maintained that both the seller and the listing agent had known that the property had unresolved drainage issues and never told her.
Guess what? The buyer dropped the lawsuit against the seller when she learned that they did not own anything of value. She continued to pursue the listing agent. Why? She was trying to win that “lawsuit lottery” and bluff her way into a settlement – but the sellers had protected themselves. Eventually, the court found her out and ordered her to pay $60,000 in sanctions for the frivolous lawsuits, but who wants to deal with all that silliness? The owners were smart – on paper they didn’t have anything worth suing for.
Now plenty of smart lawyers and accountants can build up a whole façade of protection that would take 4 private investigators and 6 computers to figure out, but in the end, nobody really knows who owns the property in question. Here’s a hint – if you can’t explain it, it won’t work!
Many asset protection plans that folks try to sell become so complicated that not even the client can explain how assets are held or how those assets were transferred. The downside is that those questions can be expected in depositions or a discovery examination, and a failure to fully and clearly explain what happened and why will make the court very suspicious and potentially give the court grounds to begin disregarding entities or setting aside transfers. Most judges start asking themselves, “What is really going on here?” if the structure and transfers are too complicated and not well explained.
This course is an introduction to the three types of Trusts I personally use every day in my business.
What is a Trust?
Types of Trusts
Personal Property Trusts
The Elite Trust
Help Your Fellow Students
The instructor is professional and very knowledgeable about the subject and we’ve learned a lot already. Looking forward to learning so much more!
Not sure how these different Trust types would be applicable in South Africa where the ANC-run Government is trying to force the "Expropriation without Compensation Law" which not only covers land and buildings on land but even any movable property such as vehicles, notebooks, furniture, etc.