Does Revocable Living Trust Provide Asset Protection?

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Does a Revocable Living Trust Provide Asset
Protection?
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Estate Planning
Objectives
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There is no one-size-fits-all estate plan,
because different people have different objectives
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For some, asset protection is a big concern
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What Is Asset Protection?
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We live in a litigious society
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Asset protection strategies are used to keep
assets out of the reach of creditors and litigants
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These strategies can also be used to keep
assets out of play during divorce proceedings
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Trusts Asset Protection
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Some people assume that assets that have been
conveyed into any type of trust would be protected
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• THIS IS A FALSE ASSUMPTION

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Revocable Trusts vs. Irrevocable Trusts

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There are different types of trusts
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Some are revocable, and some are irrevocable
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Generally speaking, assets held in an irrevocable
would be protected
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Assets that have been conveyed into a revocable
trust are not protected
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Revocable Living Trusts
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REVOCABLE LIVING TRUSTS are very commonly
utilized
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While they are useful, they don't provide asset
protection
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• Revocable living trusts are largely used to
  enable probate avoidance

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Asset Protection
Strategies
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Though revocable living trusts won't protect
assets there are viable asset protection
strategies that can be employed
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ASSET PROTECTION CONSULTATION
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If you would like to discuss asset protection
with a licensed estate planning attorney, contact
our firm to schedule a free consultation
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