Whether you want to protect your assets so that you can easily hand them to the next generation or you simply want to keep them safe from litigation, asset protection is an important matter to put quite a bit of thought into. Everyone wants to keep their property safe and secure. Here are some solutions you can use to keep your assets protected:
- Use an LLC. An LLC is a Limited Liability Company which can be made legitimate with only an owner and a member and can be used to include assets under, as long as the LLC does not directly pay for personal expenses. Property is protected under an LLC in that creditors cannot seize it and it cannot be taken for the payment of personal judgements. Be careful with this one, however, as property can be seized if lawsuit is brought against the LLC itself. Continue reading