Asset Protection | Live More Carefree
By Colin Ley
One of the strategies that is rarely, if ever, mentioned in the asset protection world is to be kind. [Read more…] about The cutting edge asset protection strategy nobody talks about – be kind
By Colin Ley
A hybrid asset protection trust is a planning tool that utilizes a “best of both worlds” scenario. Those worlds being domestic asset protection trusts and offshore asset protection trusts. There are pros and cons to both of these asset protection trusts. However, a hybrid trust can be both a domestic trust and an offshore (or foreign) trust at the same time! This type of trust is a flexible tool that is optimized for any given scenario. [Read more…] about Hybrid Asset Protection Trust (like a house fire)
By Colin Ley
The main advantage of an “offshore” or foreign trust is that it removes you from the U.S. court system. Just as you diversify investments, you can diversify jurisdictions for your asset protection plan. I don’t think you can rely on the same court that can take away your assets, to also protect your assets. With a domestic asset protection trust, you’re stuck in the terrible U.S. court system where any knucklehead can file a lawsuit with or without good cause.
Let’s compare and contrast the domestic trust approach vs. the offshore, or foreign, trust approach. [Read more…] about Domestic Asset Protection Trusts vs. Offshore Asset Protection Trusts
By Colin Ley
I get a lot of calls from people wanting to know if insurance is enough for their asset protection plan. I know what they want. They want me to tell them yes…you’re all good!
If that were the case, I could retire (or at least be unemployed because there is no more need for my services)!
I understand where these people are coming from. You’re doing everything right. You’re a good person. You’re not doing anything shady.
Insurance companies don’t make profits by paying out claims though. If there’s a way out of paying a claim, you think there’s not going to take it? [Read more…] about “Is insurance enough?”
By Colin Ley
Where the Lawyer-Humans explore with Tay and Val the things you can’t put in a partnership agreement!
By Colin Ley
Where the interview with Tay and Val continues, and we discover that what kind of toilet paper you buy has much broader implications about your financial decisions than you might have ever conceived.
