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Equity Harvesting

by
Rob Lambert
JD, LLM

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Asset Protection in a Nutshell (Downloadable PDF)

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156pp - Item # TM-EB-NUTv1
This nutshell book outlines legal principles in plain language while explaining the legal terms and the tools that are available for use in Asset Protection. Learn from one of the most educated experts today.

$49.95

    E-book available E-book Available!

 

Table of Contents
A Personal Letter From The Author
Chapter 1
What Asset Protection Is Really About And Why You
Need It .................................................................. 3
The New Code Of Ethics .................................................................. 3
What Can Be Done? .......................................................................... 3
Is The Concept Of Asset Protection Ethical? ................................... 4
A Map Through The Asset Protection Maze .................................... 6
So What Is Asset Protection In A Nutshell? ..................................... 7
The Definition of Asset Protection Planning .................................... 8
Solvent Today ?Sued Tomorrow ...................................................... 9
The Growing Epidemic Of Legal Robbery ..................................... 11
Can Litigation Become A Way Of Life? ........................................ 13
So Who Needs Asset Protection? ................................................... 14
What Are The Odds? ............................................................ 15
Any Of These Could Leave You Penniless And In Debt: .... 15
Summary ......................................................................................... 16
Chapter 2
All The Big Confusing Words Explained........ 17
Rob?s Idioms Of Asset Protection .................................................. 17
It?s Cheaper To Be Mistaken?Than Taken ........................ 17
If You Can Access Your Wealth, So Can The ?Takers? ...... 17
Pick The Battle You Can Win ? Before The War Begins .... 18
Plan For The Worst, Hope For The Best-Optimism At It?s Finest 18
Asset Protection Planning Should Be Like Breathing? Not Choking 19
The Best Plan Is One That Never Is Used ............................ 20
What Is An Asset Protection Trust (APT) ...................................... 20
Statute of Elizabeth Provision ......................................................... 22
iv
Settlement Of The Trust .................................................................. 23
Practical Uses Of Asset Protection Trusts ...................................... 23
1. A Supplement Or Replacement To Insurance ............... 23
2. A Tool To Settle Or Discourage Litigation ................... 24
3. To Keep The Ownership Of Assets Confidential .......... 24
4. An Alternative To Traditional Pre-Nuptial Agreements24
5. A Protection Against Potential Exchange Controls ....... 25
Chapter 3
5 Of The 10 Keys To Asset Protection ............ 26
Key One: ......................................................................................... 27
Realize That Our System Is A Failure .................................. 27
Why The Need For Self-Help Tort Reform? ........................ 27
Key One Summary: ......................................................................... 28
Key Two: ......................................................................................... 29
Implement Asset Protection.................................................. 29
When The Financial Seas Are Calm..................................... 29
Key Two Summary: ........................................................................ 30
Key Three: ....................................................................................... 31
Choose Your Battlefield. ...................................................... 31
Key Three Summary: ...................................................................... 32
Key Four: ........................................................................................ 33
Never Trust Anybody ........................................................... 33
With Your Hard-Earned Money ........................................... 33
The Case Of Marc M. Harris .......................................................... 33
Key Four Summary: ........................................................................ 35
Key Five: ......................................................................................... 36
Don?t Let The Tax Tail Wag the Dog .................................. 36
Key Five Summary: ........................................................................ 36
Final Notes ...................................................................................... 37
v
Chapter 4
A Crash Course In Self-Protection .................. 38
Beginning Your Process Of Protecting ........................................... 38
The Best Asset Protection Plan Bar-None ...................................... 39
Definition of Foreign Trust: ............................................................ 40
The Court Test: ..................................................................... 40
The Control Test: .................................................................. 41
Key Six: ........................................................................................... 44
Divide And Conquer ............................................................. 44
When Is Fraud Really Fraud? ............................................... 46
Key Six Summary: .......................................................................... 55
Chapter Summary ........................................................................... 56
Chapter 5
What Type Of Asset Protection Trust? ......... 58
Creating An Impenetrable Trust ..................................................... 62
Why A Revocable Trust Offers No Protection ............................... 64
Why A Domestic Irrevocable Trust Isn?t Enough .......................... 66
Key Seven: ...................................................................................... 71
Pigs Get Eaten ....................................................................... 71
Key Seven Summary:...................................................................... 71
Key 8: .............................................................................................. 72
Beware Of Asset Protection Scammers ................................ 72
Key Eight Summary:....................................................................... 73
Key 9: .............................................................................................. 74
A Plan Should Be Transparent To You ................................ 74
Key Nine Summary:........................................................................ 74
Key 10: ............................................................................................ 75
Reread Key Number 4. ......................................................... 75
vi
Chapter 6
The Family Limited Partnership (FLP) .......... 76
Structuring Your Family Limited Partnership For Utmost Protection 79
How To Organize Your Family Limited Partnership ........... 80
Transferring Assets To Your Partnership ............................. 80
More On How An FLP Can Protect Your Assets ........................... 82
Chapter Summary ........................................................................... 85
Chapter 7
How Predators And Creditors Attack ............ 87
Chapter 8
Is It Possible For The Courts To Unravel Your Asset
Protection Plan? ................................................ 97
Contempt of Court Defined ............................................................ 97
Examining The Use Of Contempt Power ....................................... 98
Contempt for establishing a trust .......................................... 99
Civil claim against settlor?s advisors ............................................ 100
Criminal sanctions against the settlor and his attorney ...... 101
Violations of money laundering and related statutes ......... 102
Extraordinary remedies: ..................................................... 103
The turncoat custodian (usually a bank) ............................. 104
Local Challenge in Court .................................................... 105
Retention and payment of a United States law firm: .......... 105
Accessibility: ...................................................................... 106
Procedural barriers:............................................................. 107
The magic of the disappearing trust: .................................. 108
Your Rights Regarding Disclosing Assets.................................... 110
Chapter 9
Tips On Keeping Your Assets and Your Personal
Relationships Safe And Sound ....................... 113
What Is A Premarital Or Prenuptial Agreement? ......................... 114
vii
Are Premarital Agreements Really Effective & Legal? ..... 114
What About Agreements For Living Together? ................. 116
When It?s Essential To Make A Premarital Agreement? ... 117
How To Construct A Pre-Nup ............................................ 119
The Final Word On Pre-Nups ............................................. 121
Is A Property Agreement For Married Folks Smart? ................... 121
How To Preserve Your Assets Before Divorce ............................ 123
Divorce As An Asset Protection Strategy? ................................... 125
Chapter Summary- Best Strategy To Protect Your Wealth Prior To Marriage 127
Chapter 10
Insurance: One Of Your Safest Investments 128
When You Can Lose Your Pensions To Creditors ....................... 129
Chapter 11
Practical Examples .......................................... 134
Case Study #1 ................................................................................ 135
How Tragedy And Human Weakness Can Endanger Your Life?s Work 135
Fool Me Once Shame On You, Fool Me Twice? Shame On Me! 137
Love, Love American Style? .................................................. 138
Case Study #4 ................................................................................ 139
How to Avoid the Buyers Remorse Blues .................................... 139
Case Study #5 ................................................................................ 139
Guilty Until Proven Innocent ........................................................ 139
Case Study #6 ................................................................................ 140
How To Insure Your Assets Can?t Be Taken By The Insurance Company 140
How A Good Asset Protection Plan Works? Even Against The Good Guy 141
Case Study #8 ................................................................................ 141
Good Loving Gone Bad ................................................................ 141
Case Study #9 ................................................................................ 142
viii
You Can Hate Me Cause I?m Beautiful? .................................... 142
But You Can?t Take My Money ................................................... 142
Case Study #10 .............................................................................. 143
Do The Footwork .......................................................................... 143
And Leave the Results Up To God ............................................... 143
Another Case Of Father Knows Best ............................................ 144
Case Study #12 .............................................................................. 145
Even A Little Is Too Much To Lose ............................................. 145
Case Study #13 .............................................................................. 146
Love Can Conquer All .................................................................. 146
Case Study #14 .............................................................................. 146
When Good Kids Go Bad ............................................................. 146
Case Study #15 .............................................................................. 147
Sex, Drugs and Rock Solid Protection.......................................... 147
Case Study #16 .............................................................................. 148
A Widow Makes A Narrow Escape .............................................. 148
From Our Legal System?s Failure................................................. 148
Case Study #17 .............................................................................. 149
The Scam That Almost Was ......................................................... 149
Case Study #18 .............................................................................. 150
Winning Doesn?t Have To Be A Losing Proposition ................... 150
Closing Comments
What To Do Now
About The Author .............................................. 154
Index .............................................................................................. 155

 

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