best assets protection services systems lawsuits

Best Asset Protection Service  Target Asset Protection Systems against Lawsuits A Family Limited Partnership Agreement Forms are the best Asset Protection Buy The Legal Form Here: Special Offer: Only $12.95 (Limited Offer)
		This website is not practicing law, and we are not your attorney. By proceeding further you acknowledge that you have READ AND ACCEPT THIS DISCLAIMER. Hello, For years now I have been researching the best asset protection systems for management and financial planning strategies. My goal was to protect my hard-earned financial assets from lawsuit seizure or loss. Here is what I have learned: 1. A trust, llc, or corporation, no matter how well formed, has dangerous exposure. This is because any judge can set any trust, corporation or llc aside. It does not matter how well structured the trust, llc, or corporation is. This also applies to a conventional statutory-law trust, living trust, or any form of the common-law business trust. It is best to target asset protection systems that will protect you from this. 2. Many people depend on the common-law pure business trust which is supposed to operate on the principle of common law, and is supposed to be outside of the jurisdiction of the courts. However, as has been proven time and time again, any whimsical judge can order that the trust be set aside. "Poof", there goes your asset management protection. It does little good to be right if the court has demolished the protection of your pure business trust, and has seized your assets. At best it would take you years of legal struggle to straighten the issue out, and meanwhile your assets are long gone. Clever financial planning and asset management protection strategists have combined the asset protection provisions of the family limited liability partnership agreement with the best asset protection provisions of the trust, llc, or corporation. This has become a better overall financial planning and target asset protection system than is provided by the trust, corporation or llc alone. Here is how the limited liability partnership works: Let us take an example of John Jones who wishes to place an asset (in this case, his home) in a legal status so that it cannot be seized in the event a judgment is ever levied against him. John will place his home in an ownership status which involves using both a trust and a limited partnership agreement. This provides John with two levels of the best asset protection system. 1. First John establishes a trust. It may be any conventional trust, a living trust, or a common-law business trust. The form of trust depends on John and his knowledge and level of confidence in the types of trusts which are available. John then establishes himself as the "Trustee" of the trust, and designates that one of the purposes of the trust is to hold ownership in real property. He then establishes as beneficiaries of the trust either his children, his wife, or some other trusted persons. For purposes of our example, we will have John name his trust "The 8722 Appletree Lane Trust." Remember that a trust can have any name, in this case the trust being named after the address of his home. 2. Now John establishes a family limited liability partnership as his second level of protection. The trust, combined with a limited partnership agreement, provides the best asset protection system available. In this case, John will name himself as the General Partner, and he will name the trust ("The 8722 Appletree Lane Trust") as the Limited Liability Partner. "The John Jones Family Limited Partnership" is the name which he gives to the new limited partnership. 3. John assigns one percent (1%) ownership of the family limited partnership to the General Manager (himself), and he assigns ninety-nine (99%) ownership to the Limited Partner (the trust). THIS IS THE KEY! 4. John then prepares the suitable deed reflecting that the home has been deeded from John Jones to the "John Jones Family Limited Partnership." Then John goes to the county courthouse to record this deed. He will probably find that because he has used the same name that is on the existing deed (John Jones) on the new deed (The John Jones Family Limited Partnership), the recorder will assume that only the form of ownership is taking place, and that the transaction is not a "sale" and that a new ownership is not taking place. Therefore John will probably only have to pay a nominal recording fee, and not have to pay the larger recording fees (document stamps) which are associated with a completely new change of ownership. 5. Now John has all of the benefits and controls concerning his home that he had before since he is the General Partner who is directed by the provisions of the limited partnership agreement to control all affairs concerning his home. He has learned that "control" provides all of the same benefits of "ownership." By placing his home in a trust, John has established a good start towards having the best asset protection system protection. He has completely protected his home from the dangers lurking out there in today's wild and woolly world of lawsuits. 6. Years go by. Then, by one of the vagaries of life (auto accident, business setback, IRS judgment, etc.) a $2 million dollar lawsuit judgment is levied against John Jones. The judgment holder's lawyers begin to look for John's assets with a view toward seizing them to satisfy the lawsuit judgment. The first thing that they will look at is John's home, which is the most obvious asset. They then discover that it is owned by a limited partnership. USUALLY THIS STOPS THE LAWYERS COLD. Why? Because they know, that by law, they can only seize the percentage of the family limited partnership which is owned by John. In this case, THEY CAN ONLY SEIZE ONE PERCENT OF THE PARTNERSHIP. At this point they know to give up, because the hassle of seizing one percent is just not worth the effort. Should they go ahead and seize the one percent ownership, things can get complicated for them; for example, they may then become responsible for all real estate taxes on the property. John's clever financial planning with his targeted best asset protection management strategy has worked. 7. They are also discouraged from further efforts to seize the home because of the second level of asset protection; the fact that the General Partner is a trust. If, by some incredible feat of magic, they were to pierce the Limited Partnership (the first level of protection), they would then have to start all over to attempt to pierce the second level of protection (the trust). It just isn't worth their time. They give up, and go searching elsewhere for easier pickings. John's targeted asset protection strategy has served John well. 8. These same principles apply to all asset protection services and systems. Automobiles, personal property, businesses, other real estate, etc. can all be protected in the same manner. Please note that I am not a lawyer. Check all of the above information out with your attorney or asset protection advisor before proceeding further. I have a limited partnership agreement especially structured and prepared for the purpose of asset protection. It has special iron-clad provisions that strengthen its protection against prying eyes. When I developed my own financial planning asset management plan, I paid $1,300.00 for the preparation of this legal document. Now I normally sell this document for $49.95. But for the next few days, I am offering a copy of this special limited partnership agreement to you for $12.95. This special offer will not last long. You can pay with your credit card and download your copy now. I am including with this offer a copy of a Grant Deed at no extra cost so that you may consider, if you wish, to use this deed to convey ownership in any real property to your new limited partnership. Sincerely, James To Order The Limited Partnership Agreement Form (To Be Downloaded Now) And To Be Printed By You: Simply Click on Only $12.95 (Special Offer) Download It Now 26 Pages General Information About Limited Partnerships as a Device for Financial Planning and Asset Management A limited partnership is a partnership with two classes of partners: general partners and limited partners. The general partners operate the business and are personally liable for all obligations of the partnership. The limited partners do not have any control over the business, other than to determine who will manage the business. Limited partners, as a group, share in the profits of the partnership; but their losses are limited to the amount of their contributions to the partnership. Formation. A limited partnership is a creature of statute. As such, a limited partnership does not exist until the requirements specified in the state law are met. Generally, a Certificate of Limited Partnership is required to be signed and filed with the secretary of state's office, and in some instances a limited partnership agreement is also required to be filed. You may contact the Secretary of State for the state in which you reside to request a copy of the form required to be filed. Registration costs are usually minimal. Asset management and financial planning experts often avail themselves of these services. A certificate of limited partnership contains information about the limited partnership such as its name, address, purpose, who the general partners are, and their business address, etc. The requirements of each state vary. A limited partnership agreement contains the same basic information that a general partnership agreement does, but addresses some additional provisions pertaining to limited partners. A limited partnership agreement should address: Contributions - specify the amount and time of contributions to be made by each partner. Management and control - identify whether some or all of the general partners will manage and control the partnership. Profit and loss sharing - specify how the profits and losses will be allocated to the partners. Group responsibility is defined. Distributions - indicate when distributions of cash or property will be made. Partner's responsibilities and duties - describe the responsibilities of each general partner. Withdrawal - identify how a partner's interest will be valued if the partner withdraws from the partnership. Use of trusts, llcs and corporations should be indicated. Death of a partner - identify how a partner's interest will be valued if the partner dies. Additional topics to be included in a partnership agreement if applicable: Admission of partners - indicate the process for admitting new general and limited partners into the partnership. Asset management financial planning assistance is available. Right of first refusal - specify that the partnership or individual partners will have the right to purchase a withdrawing partner's interest before the partner can offer to sell the interest to someone outside the partnership. Duration of the partnership - indicate the life of the partnership along with any events that may cause the partnership to dissolve prematurely. Integration of a limited partnership into a llc, trust or corporation. Continuation of the partnership - identify the criteria to enable the partners to continue the partnership if an event causing the dissolution of the partnership occurs. NOTE: This site does not, and does not intend to, give legal advice. This agreement is made available for example purposes only. Financial planning experts and asset management strategists may benefir from this material. It is not guaranteed to be complete or up-to-date. This web site is not intended to create an attorney-client relationship, and you should not act or rely on any information on this site without seeking the advice of a competent attorney. Parties using this form do so at their own risk. Attorneys can advise how llc, corporations, and trusts can be incorporated into the above asset protection strategies for best asset management and financial planning service.
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