Asset protection against the causes of wealth depletion – lawsuits, judgments, creditors, ex-spouses, financial mismanagement, and the IRS – can be avoided or eliminated by the use of a Beneficiary Controlled Trust, created by someone else as Grantor and you as the Beneficiary/Investment Trustee. A spendthrift provision and a second Distribution Trustee shields your assets from predators.
Full Story: http://corp-llc-bct.com/2008/02/18/asset-protection-from-the-trust-up/
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Charles Lamm is a retired attorney and owner of Trustee and RA Services, Inc., in Coral Springs, Florida. His asset protection articles appear on his blog at: http://www.corp-llc-bct.com. To learn more about how to combine a corporation, LLC, and Beneficiary Controlled Trust for maximum asset protection and tax benefits, please email him at: asset-protection@corp-llc-bct.com.
