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Reality Trusts - Trust me it works! Protect Your Real Estate Interests
September 12, 2004
By Michael Joseph
What is asset protection of reality
trust, and does it do for me? Reality trust is
another form of land trust and is used to invest your
assets and then camouflage them from lawyers who would
bring superfluous litigations against you because
you have wealth. By going into a trust you are effectively
camouflaging your assets from lawyers who would bring
petty lawsuits against you. Within a land trust the
name of the trustees is secret as are the name of
any and all beneficiaries named by the founder of
the trust. With such security aren't your assets safe
from superfluous litigations? They are so long as
the trust does not have a judgment brought against
it.
What are the benefits to using a reality trust? The
benefits a numerous and are as follows; probate avoidance, secrecy
of purchase price, secrecy of sales price, avoids due-on-sale clause,
avoids litigation. Ease of property management, ease of negotiation,
ease of changing beneficiaries, ease of transferability, simplified
gifting, limited liability, Managing multiple owners, etc…
As you can see there are many benefits in becoming a part of a reality
trust.
By using a trust to camouflage your wealth you have made step to
securing your wealth, then by forming a limited liability company
as the manger of the trust you have made another layer of security
against the possibility of judgments and liens being brought against
you as you now appear to have minimal assets, when in fact you would
retain and even maximize the wealth you've camouflaged from the
lawyers view. This may sound like something Al Capone might do,
but it is all legal, simply consult with a group that deals with
trusts, ask questions and you'll start to think "why didn't
I do this sooner?"
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