Does a Revocable Living Trust Protect Assets?

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DOES A REVOCABLE LIVING TRUST PROTECT ASSETS?
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Asset Protection
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Many people would benefit from the deployment of
asset protection strategies when they are engaged
in the process of estate planning
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Asset protection involves positioning your assets
in a way that shields them from creditors and
claimants
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Who Needs Asset Protection?
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Just about anyone could be targeted in a lawsuit
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Property that you are leaving behind to your
children could be lost in divorce settlements
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In a real sense, EVERYONE COULD USE ASSET
PROTECTION
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However, some people are more vulnerable than
others
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Inherent Exposure
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Individuals who are engaged in certain investment
activities are inherently VULNERABLE TO LAWSUITS
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This would include real estate investors who rent
out property
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Physicians are also vulnerable, because they can
be subject to malpractice suits
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Revocable Living Trusts
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REVOCABLE LIVING TRUSTS are very commonly
utilized estate planning tools
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Many people think that you are surrendering
personal control of assets when you convey them
into any trust
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The assumption is that they would be PROTECTED
FROM ATTACHMENT
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A Costly Misconception
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If you think that you will be protecting assets
by conveying them into a revocable living trust
YOU ARE MISTAKEN
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Assets placed into a revocable living trust ARE
NOT PROTECTED
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This is because it is a revocable trust
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You retain control of the assets, and you can
revoke the trust
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Viable Asset Protection Strategies
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Revocable living trusts don't provide asset
protection
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However, there are viable asset protection tools
available to you
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These would include
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asset protection trusts
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family limited partnerships
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limited liability companies.
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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
• [phone]
• PreserveYourEstate.net

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Hartford Asset Protection Consultation
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If you are interested in exploring your options
with regard to asset protection, OUR FIRM CAN
HELP
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• Nirenstein Horowitz
• [phone]
• www.preserveyourestate.net