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This presentation talks about living trusts in Hartford Connecticut - its importance, who needs it and how to create one.
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DOES A REVOCABLE LIVING TRUST PROTECT ASSETS?
Asset Protection
Many people would benefit from the deployment of asset protection strategies when they are engaged in the process of estate planning
Asset protection involves positioning your assets in a way that shields them from creditors
and claimants
Who Needs Asset Protection?
Just about anyone could be targeted in a lawsuit
1
Property that you are leaving behind to your children could be lost in
divorce settlements
2
In a real sense, EVERYONE COULD USE ASSET PROTECTION
However, some people are more vulnerable than others
Inherent Exposure
Individuals who are engaged in certain investment activities are inherently VULNERABLE TO
LAWSUITS
This would include real estate investors who rent out property
Physicians are also vulnerable, because they can be subject to
malpractice suits
Revocable Living Trusts
REVOCABLE LIVING TRUSTS are very commonly utilized estate
planning tools
Many people think that you are surrendering personal control of
assets when you convey them into any trust
The assumption is that they would be PROTECTED FROM ATTACHMENT
A Costly Misconception
If you think that you will be protecting assets by conveying them into a revocable living trust YOU ARE
MISTAKEN
Assets placed into a revocable living
trust ARE NOT PROTECTED
This is because it is a revocable trust
You retain control of the assets, and you can revoke the trust
Viable Asset Protection Strategies
Revocable living trusts don't provide asset protection
However, there are viable asset protection tools available to you
1 asset protection trusts
2family limited partnerships
3limited liability companies.
These would include
Hartford Asset Protection Consultation
If you are interested in exploring your options with regard to asset protection, our firm can help.
We offer free consultations to our neighbors here in the greater Hartford area.
To set up an appointment, contact our firm.
Nirenstein. Horowitz, and Associates (860) 548-1000
PreserveYourEstate.net
If you are interested in exploring your options with regard to asset
protection,
OUR FIRM CAN HELP
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