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.

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

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.


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

“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

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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