Asset Protection for Business Owners and High-Income Earners is a comprehensive book that contains all the simple steps you need to protect yourself. The book provides a number of worksheets to help you decide the best plan of action for your financial position and personal needs. You will learn how to reposition your assets into legal entities that you control, creating bullet-proof security. You will learn about irrevocable living trusts, creating and maintaining LLCs, equity-stripping techniques, privacy plans, durable power of attorney, bankruptcy legislation, and estate planning for high-income individuals, as well as living, testamentary, and pour-over wills. The trick is to own nothing directly but control everything legally.
This easy-to-read and comprehensive book will teach you the simple steps you need to take to protect yourself and your hard earned assets before there is a problem.
You will learn the ins and outs of protecting yourself and your family through legal methods, such as corporations, family limited partnerships and trusts, family saving trusts, offshore trusts corporations, and limited liability companies (LLCs).
Table of Contents
Chapter 1: So You Do Not Need Asset Protection?
Chapter 2: Plan Ahead
Chapter 3: No Escaping
Chapter 4: I Thought I Was Exempt?
Chapter 5: How Well Do You Know Your Business Partners?
Chapter 6: Surely Incorporation is for Big Companies?
Chapter 7: The Limited Liability Company
Chapter 8: The Accounts Receivable
Chapter 9: Domestic Trusts
Chapter 10: Foreign Trusts
Chapter 11: Your Personal Residence
Chapter 12: How Well Do You Know Your Spouse?
Chapter 13: Do Not Die Yet
Chapter 14: The Alter Ego (Piercing the Veil?
Chapter 15: Equity Stripping
Chapter 16: Insurance
Chapter 18: Combining Businesses to Build a Fortress
Chapter 19: Summary
Appendix A: Business Types Compared
Appendix B: State Specific Factors
Appendix C: Assets Checklist
Appendix D: Glossary