Will a Revocable Living Trust Provide Asset Protection? - PowerPoint PPT Presentation

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Will a Revocable Living Trust Provide Asset Protection?

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When you are financially successful, you should protect your assets for your own purposes. Find out how you protect the resources that you intend to leave behind to your loved ones after you pass away in this presentation. – PowerPoint PPT presentation

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Title: Will a Revocable Living Trust Provide Asset Protection?


1
WILL A REVOCABLE LIVING TRUST PROVIDE
ASSET PROTECTION?
2
Protecting Assets
3
When you are financially successful, you should
protect your assets for your own purposes
4
It is also important to protect the resources
that you intend to leave behind to your loved
ones after you pass away
5
Why Would You Need to Protect Assets?
6
You may wonder why you would need to protect
assets
7
Anyone can be the target of a lawsuit, divorce
proceedings could come into play as well
8
In a real sense, everyone with assets should
protect them
9
However, it is a pressing concern for some people
10
Successful People Targeted
11
People who have been especially successful are
more attractive targets for litigious types
12
  • Those who are in certain lucrative lines of work
    are inherently vulnerable to lawsuits

13
These would include real estate investors,
physicians, and other professional practitioners
14
Will a Revocable Living Trust Protect My Assets?
15
REVOCABLE LIVING TRUSTS are very popular in the
field of estate planning
16
The primary purpose of a revocable living trust
is to facilitate asset transfers outside of
probate
17
  • While they are useful for probate avoidance,
    revocable living trusts
  • do not provide asset protection

18
Will Any Trust Provide Asset Protection?
19
Revocable living trusts are just that, REVOCABLE
20
You can dissolve the trust and use the money as
you see fit
21
The grantor of the trust RETAINS CONTROL
22
On the other hand, you surrender this control
when you create an IRREVOCABLE TRUST
23
As a result, generally speaking assets that have
been conveyed into an irrevocable trust are
protected
24
Other Asset Protection Possibilities
25
Certain types of irrevocable trusts are used to
protect assets
26
However, there are other possibilities
27
  • Limited liability companies and family limited
    partnerships are also used for asset protection
    purposes

28
Reno Asset Protection Lawyers
29
This presentation should have answered basic
questions about revocable living trusts and
asset protection
30
If you want to discuss asset protection with a
licensed professional, contact our firm to
schedule a free consultation
31
If you live in northern Nevada give us a call at
775-823-WILL to make an appointment
32
Or visit our website www.wealth-counselors.com
33
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