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Joe Garza Attorney - Partnership Needs More than One Partner

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Joe Garza - Attorney at Garza & Harris Ltd. - explains how strong wealth management and estate planning is absolutely necessary to successfully transfer your estate to the next generation. Estate taxes and strict IRS laws can gouge millions out of your estate - make sure that your Tax Attorney investigates all legal measures to secure your wealth – PowerPoint PPT presentation

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Title: Joe Garza Attorney - Partnership Needs More than One Partner


1
Partnership Needs More than One Partner
  • Joe Garza Attorney Garza Harris, Ltd.
  • January 2014

2
Fundaments of Wealth Management
  • Fundamental wealth protection strategies could be
    executed that do not acquire in the means of your
    business or everyday life. Enhanced property
    protection planning can use off-shore counts on
    and off-shore bank accounts, such tools and
    techniques are the exception in many cases
  • Sadly, a lot of commercial investor and
    businessmen, and many of their accountants and
    attorneys, pay nearly no focus to also basic
    asset protection techniques. This was never much
    more apparent, and regrettable, compared to
    during the Great Economic Recession we have been
    working with over the past seven years or so.
    Otherwise innovative and historically effective
    business real estate investors, programmers and
    business owners have dropped forgone wealth
    protection methods. What makes this even much
    more terrible is that, with even modest asset
    defense preparation, numerous of these
    devastating monetary disasters might have been
    avoided.

3
Shielding Your Real Estate
  • Wealth protection is commonly also overdue when
    you are in deep, murky water. Transmissions of
    assets for less than that of compared to decent
    value may be allotted as an inclination in
    personal bankruptcy, or as a deceptive transfer.
    The fraudulence in deceptive transmission is
    not traditional fraud. It is merely the transfer
    of a property for much less than reasonable worth
    for the principal purpose of avoiding creditors.
    This suggests attempts to transfer possessions
    for less than reasonable worth can be dealt with
    and set aside for four years after the transfer
    is made. Early adoption and application of also a
    simple property protection strategy may steer
    clear of these dangers. The point being made here
    is that you cant implement wealth protection
    after the fact with your property it has to be
    put into place before the storm strikes.

4
Conclusion
  • Among the most basic instances of real estate
    wealth protection includes If you are married
    and possess a residence with your spouse in
    Illinois or Indiana, and in the majority of other
    states, there is basically no justification for
    not possessing the real estate as tenants by the
    totalities to protect your real estate from cases
    of creditors of just one spouse. This is
    particularly correct if one partner is engaged in
    company or expert activities with a high risk of
    liability (businessmen, investor, designer,
    doctor, business owner, etc.), while the various
    other is not. Incredibly, it is generally found
    that while defending home developers and
    investors in home loan workout and loan
    settlement efforts over the past couple of years
    that this vital wealth protection is almost never
    in place beforehand.
  • Case and Point wealth protection involves
    protecting your most valuable assets early on,
    before its too late. And one of your most
    valuable assets is your real estate. Learn more
    wealth protection tips by Joe B, Garza.
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