competition success magazine One more point about "getting rid" of your assets through sale to your spouse: In the United States, if you live in a "community property" state then everything that is owned by you during the time of the marriage is also owned by your spouse and vice-versa. So, transferring ownership to a spouse in a "community property" state does not help your asset protection strategy and does not protect you from creditors. competition success review The current community property states are: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. One asset protection strategy that does work and has been known to work very well is offshore asset protection trust or APT. Here the assets are protected from lawsuits because they are in oversea territories and therefore untouchable in most cases. Of course, it is important to take note of applicable fraudulent transfer rules as well. As in most asset protection strategies, timing is very important competition success .
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