More financial disasters without a properly structured trust

This is Part 2 of an interview with our speaker at Traction REIA this month who is both a Tax Attorney & Certified Public Accountant.

TOM ZEEB:
What’s another example of how a properly constructed trust can protect us from the crazy things that can happen in life?

BILL NOLL:
Here’s an example.

Bob Bernstein had over a million dollars in assets including real estate.

He is single with two teenage children – Bob, Jr. and Roberta.

After receiving bad health treatment Bob Sr. became 90% paralyzed (incapacitated) for nine months.

During this period his children – Bob Jr. and Roberta (who had access to dad’s funds) got swindled by a con artist with a Ponzi Scheme for $486,000.

When Bob, Sr. recovered he realized to do two things 1. Avoid unproven medical practitioners and 2. Use a trust.

Number 1 would not have happened with better medical judgement, and number 2 (our focus), this substantial loss would not have happened with a properly structured trust.

The personal assets that should be held by the trust are:

— The ownership certificates (shares) of your LLC, corporation and other entities  (Investment real estate is not placed in this trust but instead in a properly structured LLC with the shares of the LLC in the trust)
— Your home, second home
— Your vehicles – car, truck, RV, boat, plane
— Bank accounts, brokerage accounts, securities, annuities, life insurance, etc.
— Other personal valuables – Jewelry, antiques, precious metals, rare collections, etc.

These assets have value and are therefore subject to attachment.

While a properly structured Revocable Living Trust (RLT) will protect the above assets from probate upon your demise, it does not give you asset protection and privacy.

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Want to learn more and be able to protect yourself properly?

Bill is doing 2 events for Traction REIA:

#1.  IN-PERSON: Washington DC Main Monthly Meeting

TOPIC: “The Power Of The Right Structure: The Foundation For Keeping What You Make and Protecting Your Assets Without Expensive Lawyers”

SPEAKER: Bill Noll, CPA & Tax Attorney

Thursday September 16th IN-PERSON
Marriott Dulles Airport
6pm to 9pm

Click here to RSVP

#2.  IN-PERSON: Full Day Training Event with Bill Noll, CPA & Tax Attorney

TOPIC:
“Total Wealth Protection for You and Your Family”

Saturday September 18th IN-PERSON
Marriott Dulles Airport
9am to 4pm

Get your ticket now

See you there!
Tom Zeeb
President

Traction REIA:
12+ Year Recipient of the National REIA “Honors of Merit”
and the “Award of Excellence”
For Best Real Estate Investor Association!

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