Real Estate Asset Protection - Shelter Against The Eye Of The Storm
October 16, 2004
By Katherine Curtis
Prior to encountering a full-blown, undesirable
event such as a divorce or an IRA investigation, a property
owner should thoroughly research and select an appropriate
real estate asset protection plan. The time to
heighten one's awareness about these safety measures
and the laws surrounding these matters is not while
the storm is overhead and debris blocks the only pathway
out: the best time is before establishing ownership.
Building security into how you own your property can
make the difference between hanging on to and losing
your asset during rough conditions. The best sources
for this information are through reliable lawyers and
highly reputable real estate agencies.
Construct Foolproof Accommodations.
In whose name is the title of the property assigned? In some states,
the name listed on the title protects creditors and other nosey
agencies from literally stealing the house from under your feet.
Quite often, practitioners such as doctors avoid lawsuit-hungry
clients from going after personal homesteads or other real estate
by legally naming the owner on the title as another family member
or by designating dual ownership between the husband and wife. By
pursuing real estate asset protections as set by the residing state,
bankruptcy and other unfortunate circumstances are exempt from invading
rights that protect possessions.
A Trust-worthy Residence.
The equity in one's home is often one's only retirement source.
Trusting that fund will create a rock-solid foundation for the latter
years takes careful planning. Consulting with dependable, sound
professionals who understand the importance of setting up a trust
option that is tailored to an owner's needs is the first step to
making this asset work to the title-holder's advantage. Real estate
protection trusts provide a peace-of-mind that is often flexible,
tax saving, and loaded with privacy. Land trusts, estate freeze
trusts, personal residence trust, and offshore (or asset protection)
trusts are a few of the options available to safely shelter real
estate owners from devastating circumstances.
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