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Find Legal Protection for Material Possessions

Author: Robertat Kinson
by Robertat Kinson
Posted: Apr 01, 2017

You work hard for the material possessions you own so it only makes sense to ensure that everything is protected and secured from being stripped away by creditors and other parties.

Every state operates in a different manner when it comes to asset protection based on their laws and regulations. Some states have very strict laws and protect the owner while others are more fluid and give the creditors more to work with when they are pursuing a legal case. Nevada is well-known for siding with owners and giving them multiple ways to keep assets under the owner’s control. The statutes are applicable to residents of the state and anyone who owns real property located within these borders.

Asset protection trusts are complicated and require the legal expertise of a firm that specializes in this type of law and situations. These attorneys can evaluate your unique situation and then determine which solution is the right one for you to take whether that includes revocable living trusts, irrevocable or other types. The key is to find the best lawyer in Nevada who is willing to give legal guidance and take care of the paperwork for you so that there are no questions or issues later on.

Nevada is unusual in that it allows the creation of an asset protection trust for the individual to cover themselves instead of someone else. This is common practice for individuals who are worth high dollar amounts due to their employment positions or inheritance of large sums of money. This type of trust is considered irrevocable which means that it cannot be changed or canceled but can be modified in certain ways based on Nevada law. One of the best parts is that it can be combined with a limited liability company to add another layer of protection forcing the creditors to take extreme measures to collect on certain types of debt.

It is important to hire a lawyer to put this together on your behalf due to their knowledge of the legal requirements and to prevent loopholes or improper documentation creating an issue later on down the road. There are fees involved with this trust but they are generally more reasonable than those imposed by similar offshore asset protection plans even though the benefits are about the same. Another perspective is that this solution protects you from losing everything in a lawsuit or nasty divorce where creditors from the other side are seeking to obtain your assets as compensation. Individuals in high risk careers such as doctors, lawyers and businessmen should seriously consider investing in this or at the very least they need to sit down for a consultation and understand what their options are along with the risks and the benefits.

Don’t spend your entire life working hard for the assets you deserve only to have it taken away because there is nothing stopping a creditor or lawyer from accessing and taking it all. You need to hire the best attorney with the right experience in Nevada asset protection trusts so that they can get you taken care of as soon as possible and provide peace of mind about your future. The initial visit is complimentary so you can gather all the facts and information and find out whether you should be doing more to keep your possessions under lock and key.

If you are looking for Las Vegas trust attorney, then the author of this article recommends Atkinson Law Associates.

About the Author

With the help of a licensed attorney experienced in arranging the disposal of estates, you can ensure that your assets will be properly administered after your passing.

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Author: Robertat Kinson

Robertat Kinson

Member since: Jan 06, 2016
Published articles: 6

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