Disclaimer: This is based on my personal and professional experience. We recommend that you still consult with your attorney or accountant for further clarification.
Today, let’s talk about your property and what you can do to protect it. Some of you may have recently acquired a property or invested in one but don’t really know how to protect a long-term investment. It’s hard not to have a guarantee on the protection of an investment you’ve spent thousands or millions of dollars on. It is best to hear from personal and professional experience about how these people can protect their investments.
With years of experience, I have found that the best way to protect your property is to put it under a Trust. I’ve done this so many times that at this point, it only takes me a few minutes to place a single property in the Trust.
It works like this: I choose a trustee and you choose whoever you trust. Then, there will be two important documents entered in the Trust. These are the Trusteeship Certificate and the Trustee Declaration.
This has a number of advantages. For example, someone sues you for an accident involving your home. They will see that the Trust has it and they will pull more information from the Trust.
However, they will see that the Trust has nothing because what I do is put each property in a separate Trust which is in its own name.
Most of the time, attorneys will back down when they see that the Trust only owns one property. They know how tiring going through the process can be, especially one with LOC.
Another advantage is that if you marry someone who owes child support or taxes, their financial obligations will be attached to the house. But when your house is under Trust, no one can touch it.
For me, this is a good thing to have. It reassures you and protects your rights as a property owner or heir. It can be challenging for you to take the first step, but with the right attitude and purpose, you should be able to find ways to protect your investment.
Again, it is important that you consult with your attorney and accountant for further knowledge.
Protect your assets, seal your future. If you have any more questions, don’t hesitate to get in touch!
