This document discusses asset protection and provides strategies to protect personal wealth from lawsuits and creditors. It notes that homes, businesses, cars and other assets are often at risk and outlines basic and complex techniques to minimize risks, including comprehensive insurance, careful property titling and ownership structures, retirement account protections, and domestic or offshore trusts. The document stresses the importance of working with financial and legal advisors to develop an asset protection plan tailored to individual needs and risk factors.
The April 2010 Edition of the Wild Felice and Pardo, PA Estate Planning, Asset Protection and Probate administration newsletter featuring news and tips useful for any resident of Fort Lauderdale, or the greater South Florida area who is interested in planning their estate, protecting their assets and avoiding probate. Protect yourself from asset sharks.
This document provides an overview of asset protection strategies. It discusses identifying risks, implementing plans before problems arise, and avoiding fraudulent transfers. It then summarizes three basic techniques: insurance to shift risks, statutory protections of exempt assets like a home, and asset placement by transferring ownership. Placement options include corporations, partnerships, trusts, and shifting assets between spouses to protect from each other's creditors.
The document introduces self-directed IRAs which allow investors to put retirement funds into non-traditional assets like real estate, private stock, and precious metals. It provides an overview of Entrust, a leader in self-directed retirement plans administration, and their services including knowledgeable staff, education programs, and local offices. Finally, it outlines the steps to open an Entrust self-directed IRA account and begin investing in eligible assets.
The rock cycle document describes the formation of different rock types. Magma and lava form igneous rocks as they cool and solidify. Sediment is created through weathering and erosion of igneous rocks, and is compacted under pressure into sedimentary rocks. Metamorphic rocks form when sedimentary rocks are subjected to heat and pressure, changing their composition and structure. The rock cycle shows how rocks continuously transform between igneous, sedimentary, and metamorphic types over geological time.
This document outlines a SoLoMo marketing strategy for the Lush Spa in Paris. It proposes partnering with fashion and lifestyle magazines to promote spa services and products to their readers. The strategy involves hiding QR codes in cosmetic products where finding a code wins a day at the spa. Notifications would also be sent through magazine apps when readers are near Lush locations to participate in a game called "The Lush Factory." The goal is to engage customers socially through apps, locally through geolocation, and mobile through QR codes and partner apps.
Igneous rocks are formed by cooling and melting magma underground or on the Earth's surface. There are three main types of rocks: igneous rocks, which are formed by cooling magma; sedimentary rocks, which are formed by the compression of sediment; and metamorphic rocks, which are formed by the transformation of pre-existing rocks by heat, pressure, and chemical reactions.
The April 2010 Edition of the Wild Felice and Pardo, PA Estate Planning, Asset Protection and Probate administration newsletter featuring news and tips useful for any resident of Fort Lauderdale, or the greater South Florida area who is interested in planning their estate, protecting their assets and avoiding probate. Protect yourself from asset sharks.
This document provides an overview of asset protection strategies. It discusses identifying risks, implementing plans before problems arise, and avoiding fraudulent transfers. It then summarizes three basic techniques: insurance to shift risks, statutory protections of exempt assets like a home, and asset placement by transferring ownership. Placement options include corporations, partnerships, trusts, and shifting assets between spouses to protect from each other's creditors.
The document introduces self-directed IRAs which allow investors to put retirement funds into non-traditional assets like real estate, private stock, and precious metals. It provides an overview of Entrust, a leader in self-directed retirement plans administration, and their services including knowledgeable staff, education programs, and local offices. Finally, it outlines the steps to open an Entrust self-directed IRA account and begin investing in eligible assets.
The rock cycle document describes the formation of different rock types. Magma and lava form igneous rocks as they cool and solidify. Sediment is created through weathering and erosion of igneous rocks, and is compacted under pressure into sedimentary rocks. Metamorphic rocks form when sedimentary rocks are subjected to heat and pressure, changing their composition and structure. The rock cycle shows how rocks continuously transform between igneous, sedimentary, and metamorphic types over geological time.
This document outlines a SoLoMo marketing strategy for the Lush Spa in Paris. It proposes partnering with fashion and lifestyle magazines to promote spa services and products to their readers. The strategy involves hiding QR codes in cosmetic products where finding a code wins a day at the spa. Notifications would also be sent through magazine apps when readers are near Lush locations to participate in a game called "The Lush Factory." The goal is to engage customers socially through apps, locally through geolocation, and mobile through QR codes and partner apps.
Igneous rocks are formed by cooling and melting magma underground or on the Earth's surface. There are three main types of rocks: igneous rocks, which are formed by cooling magma; sedimentary rocks, which are formed by the compression of sediment; and metamorphic rocks, which are formed by the transformation of pre-existing rocks by heat, pressure, and chemical reactions.
The document describes The Siam hotel in Bangkok, Thailand. It targets boutique hotel customers between 40-65 years old who are interested in art, history, and discovering Thai traditions in a luxury setting. The hotel inspired the author to enter the hospitality industry due to its beautiful design, luxury service, and treatment of each guest as unique. It offers a place for visitors to experience real Thai traditions and architecture in an original Thai house on the Chao Phraya River. While competition is high, the hotel uses online travel agencies like Booking.com and TripAdvisor to increase its visibility.
This document lists various nouns and indicates their state as "Before" and "After" without providing any additional context or details about what happened to each item before and after. It includes people, animals, foods, locations, characters, and groups but does not specify any events or changes.
The document contains a quiz on the novel Siddhartha, with questions about the main characters and plot points in the story. It asks about Siddhartha's life at home, his hopes in joining the Samanas, the meaning of the word "irreproachable", and why he sometimes refers to himself in the third person. Further questions cover whether Siddhartha's father has found true bliss, the definition of an epithet and conceptions, and the purpose of repetition in writing. The quiz also asks about a literary device used to foreshadow Siddhartha leaving home and what can be inferred about his relationship with Govida by the story's end. It concludes by
The document describes the rock cycle, which illustrates how rocks slowly change over time through igneous, sedimentary and metamorphic processes. Igneous rocks form from cooling magma, either slowly underground as plutonic rocks or rapidly at the surface as volcanic rocks. Sedimentary rocks form from the lithification of sediments or chemical/biochemical precipitation. Metamorphic rocks change under pressure, heat and fluids. The rock cycle shows how rocks continuously transform between these three main types through geological processes.
The document appears to be a student essay analyzing the poem "The Art of Poetry" by Jorge Luis Borges. The essay includes three examples from the poem with corresponding quotes and images to support the analysis. It concludes with a headline summary bringing together the key points of the poem's representation of life.
Don quixote chapter 8 vocabulary announcementKaren Cardenas
This document defines key vocabulary terms from Don Quixote chapter 8, including lance (a long spear), misfortune (bad luck), quest (a knight's journey to find something specific), renewed (made new again), renowned (famous), and squire (an attendant).
Sentence combining is a writing strategy that teaches combining short, choppy sentences into more sophisticated and effective sentences. When combining sentences, the meaning of the original sentences should be conveyed clearly while maintaining coherence, emphasis, conciseness, and rhythm. Examples show effectively combining sentences about cheese fries, past relationships, fallen trees, pets, college funding, and part-time jobs. Practice is important for becoming proficient at sentence combining.
Visibility of George V Paris - Four Seasonsrobertgrc2012
This document discusses using brand and location data to target Facebook ads. It mentions combining a brand or business name with geolocation, proximity, or excluding Facebook connections to find potential customers. Examples are provided of pairing a brand like Le Royal Monceau with Raffles Paris in Facebook ads. The document also references optimizing visibility across search results by targeting the most visible sites.
Role of Inflammation, Genetics, Epigenetics, and Stem Cells in Tumorigenesispianocidal
This is a 2.5 hour presentation on the basic mechanisms of tumorigenesis. It has been used to introduce students to the importance of inflammation, basic concepts/terminology in genetics and epigenetics, and thoughts pertaining to stem cells in tumorigenesis.
Deepak Sawant was born on April 4, 1965 in Mumbai, India. At the time of his birth, the astrological configuration indicated he would be blessed with adequate resources and have the drive to pursue his goals with determination. He has a sixth sense that enables him to make successful plans and achieve success in his career. Though he will have a smooth life for the most part, he is very family-oriented and will enjoy good company and music in addition to his ambitious activities.
This document is an astrology birth chart for Sri Krishna acquired from an astrology book called Kundali Sanghrah by astrologer Vasant D. Bhatt. The document was sent by Deepak S. Sawant, also known by the nickname Mr. Ronnie, to various authorities and concerned parties on June 17, 2014.
~~ Astrology could be discovered in different astro findings ~~Deepak Somaji Sawant
This document discusses two astrology books and provides information about astrological charts and planets. It includes snapshots of star formations in the universe from Google to visualize astrological findings. In summary:
1) It describes two astrology books about graha jyotish and predicting the future based on one's birth chart.
2) It explains that astrological data is related to one's birth nakshatra and rasi (zodiac sign) and discusses the orbits of inner and outer planets revolving around the sun.
3) It proposes that two types of charts - for lagna and its navamsha and rasi and navamsha - can be generated to define human qualities and importance
Protecting A Clients Assets. A Holistic Approach (00125483 1)Barry Siegal
Holistic Approach to Creditor Protection
Based on individual circumstances in each case – no magic bullet.
Factors include client’s risk tolerance, willingness to relinquish control and cost.
Use of various creditor protection techniques can be cumulative.
Cost of most successful asset protection programs can be less than one year’s premium on malpractice insurance.
Intro. to Self-Directed & Real Estate IRAsgkowalski
This document provides an introduction to self-directed IRAs and real estate IRAs. It defines a self-directed IRA as an IRA that can invest in non-traditional assets like real estate, private stock, and promissory notes. It discusses permissible and prohibited IRA investments. It provides examples of using IRAs to purchase real estate and form LLCs. It also outlines the process for opening a self-directed IRA account and getting started with investments.
Poor due diligence can destroy an acquiring company. Ferranti purchased ISC for $1.1 billion in 1987 without discovering that ISC's profits were non-existent and came from illegal arms sales. Ken Lynch also lost his job as CEO of Bank of America after hastily conducting due diligence on Merrill Lynch over a weekend, resulting in BofA taking a $15.5 billion loss in the first quarter after acquiring Merrill. Due diligence serves to confirm the target's value, prove synergy assumptions, and uncover potential liabilities or "booby traps."
Business valuation
Legal & accounting fees
Executor/administrator expenses
An estate plan is important to preserve assets, ensure they are distributed according to your wishes, and minimize taxes. Your estate includes all property you own such as real estate, vehicles, bank accounts, retirement accounts, and life insurance. Assets transfer either directly by beneficiary designation, jointly with a spouse, through probate, or via a trust. Probate involves court supervision of distributing assets according to a will or state law and can be costly. Trusts avoid probate and provide lifetime management of assets. Estate settlement costs include funeral expenses, taxes, appraisals, legal and accounting fees.
Sentinel Solutions provides asset protection services. The document summarizes key asset protection techniques including insurance, statutory protections like homestead exemptions, and asset placement through entities like trusts. It notes that while asset protection plans can make assets harder for creditors to access, plans cannot be intended to defraud creditors. The summary highlights the main risks that asset protection seeks to mitigate and outlines some basic strategies without endorsing any particular approach.
The document describes The Siam hotel in Bangkok, Thailand. It targets boutique hotel customers between 40-65 years old who are interested in art, history, and discovering Thai traditions in a luxury setting. The hotel inspired the author to enter the hospitality industry due to its beautiful design, luxury service, and treatment of each guest as unique. It offers a place for visitors to experience real Thai traditions and architecture in an original Thai house on the Chao Phraya River. While competition is high, the hotel uses online travel agencies like Booking.com and TripAdvisor to increase its visibility.
This document lists various nouns and indicates their state as "Before" and "After" without providing any additional context or details about what happened to each item before and after. It includes people, animals, foods, locations, characters, and groups but does not specify any events or changes.
The document contains a quiz on the novel Siddhartha, with questions about the main characters and plot points in the story. It asks about Siddhartha's life at home, his hopes in joining the Samanas, the meaning of the word "irreproachable", and why he sometimes refers to himself in the third person. Further questions cover whether Siddhartha's father has found true bliss, the definition of an epithet and conceptions, and the purpose of repetition in writing. The quiz also asks about a literary device used to foreshadow Siddhartha leaving home and what can be inferred about his relationship with Govida by the story's end. It concludes by
The document describes the rock cycle, which illustrates how rocks slowly change over time through igneous, sedimentary and metamorphic processes. Igneous rocks form from cooling magma, either slowly underground as plutonic rocks or rapidly at the surface as volcanic rocks. Sedimentary rocks form from the lithification of sediments or chemical/biochemical precipitation. Metamorphic rocks change under pressure, heat and fluids. The rock cycle shows how rocks continuously transform between these three main types through geological processes.
The document appears to be a student essay analyzing the poem "The Art of Poetry" by Jorge Luis Borges. The essay includes three examples from the poem with corresponding quotes and images to support the analysis. It concludes with a headline summary bringing together the key points of the poem's representation of life.
Don quixote chapter 8 vocabulary announcementKaren Cardenas
This document defines key vocabulary terms from Don Quixote chapter 8, including lance (a long spear), misfortune (bad luck), quest (a knight's journey to find something specific), renewed (made new again), renowned (famous), and squire (an attendant).
Sentence combining is a writing strategy that teaches combining short, choppy sentences into more sophisticated and effective sentences. When combining sentences, the meaning of the original sentences should be conveyed clearly while maintaining coherence, emphasis, conciseness, and rhythm. Examples show effectively combining sentences about cheese fries, past relationships, fallen trees, pets, college funding, and part-time jobs. Practice is important for becoming proficient at sentence combining.
Visibility of George V Paris - Four Seasonsrobertgrc2012
This document discusses using brand and location data to target Facebook ads. It mentions combining a brand or business name with geolocation, proximity, or excluding Facebook connections to find potential customers. Examples are provided of pairing a brand like Le Royal Monceau with Raffles Paris in Facebook ads. The document also references optimizing visibility across search results by targeting the most visible sites.
Role of Inflammation, Genetics, Epigenetics, and Stem Cells in Tumorigenesispianocidal
This is a 2.5 hour presentation on the basic mechanisms of tumorigenesis. It has been used to introduce students to the importance of inflammation, basic concepts/terminology in genetics and epigenetics, and thoughts pertaining to stem cells in tumorigenesis.
Deepak Sawant was born on April 4, 1965 in Mumbai, India. At the time of his birth, the astrological configuration indicated he would be blessed with adequate resources and have the drive to pursue his goals with determination. He has a sixth sense that enables him to make successful plans and achieve success in his career. Though he will have a smooth life for the most part, he is very family-oriented and will enjoy good company and music in addition to his ambitious activities.
This document is an astrology birth chart for Sri Krishna acquired from an astrology book called Kundali Sanghrah by astrologer Vasant D. Bhatt. The document was sent by Deepak S. Sawant, also known by the nickname Mr. Ronnie, to various authorities and concerned parties on June 17, 2014.
~~ Astrology could be discovered in different astro findings ~~Deepak Somaji Sawant
This document discusses two astrology books and provides information about astrological charts and planets. It includes snapshots of star formations in the universe from Google to visualize astrological findings. In summary:
1) It describes two astrology books about graha jyotish and predicting the future based on one's birth chart.
2) It explains that astrological data is related to one's birth nakshatra and rasi (zodiac sign) and discusses the orbits of inner and outer planets revolving around the sun.
3) It proposes that two types of charts - for lagna and its navamsha and rasi and navamsha - can be generated to define human qualities and importance
Protecting A Clients Assets. A Holistic Approach (00125483 1)Barry Siegal
Holistic Approach to Creditor Protection
Based on individual circumstances in each case – no magic bullet.
Factors include client’s risk tolerance, willingness to relinquish control and cost.
Use of various creditor protection techniques can be cumulative.
Cost of most successful asset protection programs can be less than one year’s premium on malpractice insurance.
Intro. to Self-Directed & Real Estate IRAsgkowalski
This document provides an introduction to self-directed IRAs and real estate IRAs. It defines a self-directed IRA as an IRA that can invest in non-traditional assets like real estate, private stock, and promissory notes. It discusses permissible and prohibited IRA investments. It provides examples of using IRAs to purchase real estate and form LLCs. It also outlines the process for opening a self-directed IRA account and getting started with investments.
Poor due diligence can destroy an acquiring company. Ferranti purchased ISC for $1.1 billion in 1987 without discovering that ISC's profits were non-existent and came from illegal arms sales. Ken Lynch also lost his job as CEO of Bank of America after hastily conducting due diligence on Merrill Lynch over a weekend, resulting in BofA taking a $15.5 billion loss in the first quarter after acquiring Merrill. Due diligence serves to confirm the target's value, prove synergy assumptions, and uncover potential liabilities or "booby traps."
Business valuation
Legal & accounting fees
Executor/administrator expenses
An estate plan is important to preserve assets, ensure they are distributed according to your wishes, and minimize taxes. Your estate includes all property you own such as real estate, vehicles, bank accounts, retirement accounts, and life insurance. Assets transfer either directly by beneficiary designation, jointly with a spouse, through probate, or via a trust. Probate involves court supervision of distributing assets according to a will or state law and can be costly. Trusts avoid probate and provide lifetime management of assets. Estate settlement costs include funeral expenses, taxes, appraisals, legal and accounting fees.
Sentinel Solutions provides asset protection services. The document summarizes key asset protection techniques including insurance, statutory protections like homestead exemptions, and asset placement through entities like trusts. It notes that while asset protection plans can make assets harder for creditors to access, plans cannot be intended to defraud creditors. The summary highlights the main risks that asset protection seeks to mitigate and outlines some basic strategies without endorsing any particular approach.
This document summarizes voluntary benefits that provide legal services and identity theft protection. It offers affordable monthly plans for legal services covering legal advice, document review, trial defense, and IRS audit assistance. An identity theft plan provides credit monitoring, identity restoration services, and fraud resolution assistance. Both plans have easy enrollment options and cover employees, spouses, and dependents. The plans aim to provide simple, valuable benefits to address common legal and identity theft issues.
This document discusses estate planning and provides an overview of estate planning tools like wills and trusts. It notes that estate planning can help preserve assets, ensure they are distributed as intended, and minimize confusion for beneficiaries. It defines an estate as all property owned at death, and explains that tools like wills pass ownership after death while trusts allow control and management of wealth during life and after death in a planned manner. Finally, it recommends estate planning for those who own property or have dependents to provide for.
This document provides general information about investing and recommends obtaining financial advice. It notes that case studies are for illustration only and that the presentation does not take into account individual circumstances. Investors should consider if the information suits their personal objectives, financial situation and needs before making investment decisions.
This document discusses asset protection planning strategies for an individual professional athlete named X who is involved in an altercation that results in someone's nose being broken. It notes that X currently holds all assets in cash at a single institution, making them easily discoverable and attachable. The document then recommends strategies like forming a family limited partnership to own assets, purchasing insurance, and diversifying financial institutions. It discusses the importance of planning before incidents occur and notes offshore planning is not usually best due to the ability to hold individuals in contempt. Limited partnerships are highlighted as generally the best option due to charging order protections.
The document discusses various asset protection strategies that can be incorporated into estate planning. It outlines 6 key strategies: 1) insurance, 2) asset protection trusts, 3) limited liability companies, 4) retirement accounts, 5) marital and credit shelter trusts, and 6) gifts to irrevocable trusts. It provides details on how each strategy works and its benefits. It emphasizes that asset protection planning should be woven into estate planning to better protect clients' assets from creditors.
This document discusses frequently asked questions about asset protection. It explains that asset protection planning is necessary due to the litigation explosion and rising jury awards. Asset protection strategies aim to legally insulate assets from potential future creditors or make assets difficult for creditors to access. The document outlines various Florida exemptions that protect certain assets, such as homesteads, wages, retirement plans, and life insurance. It also discusses asset protection entities like limited partnerships and offshore asset protection trusts that can provide stronger creditor protection than exemptions alone. The document stresses that while asset protection is best done preventatively, it may still provide benefits even when creditors are already present.
This document discusses asset protection strategies and frequently asked questions about protecting assets from lawsuits. It explains that anyone can be sued so planning is important. Asset protection involves legally shielding assets using exemptions like homestead protections or entities like limited partnerships and offshore trusts. The best solution is a customized plan considering individual circumstances, developed with legal and financial advisors, as planning should occur before any lawsuits are filed.
2013 succession planning business structures sqMiriam Robeson
This document discusses different business structures and their tax implications. It notes that limited liability companies (LLCs) and S corporations provide flexibility, tax benefits, and allow business income to be taxed at the owner's personal tax rate. The document outlines considerations for different entity types, such as sole proprietorships providing the highest liability risk and C corporations having dividend income taxed twice. It also provides a case study of a multi-generation farm business and recommends flexibility in entity structure to meet estate planning, transition, and liability protection goals.
The document discusses several estate planning topics:
1) It discusses business-owned life insurance and the tax implications under Section 101(j) of proceeds being taxable unless certain exceptions are met.
2) It discusses the use of offshore trusts for asset protection, noting their ability to protect assets from litigation in US courts but not to avoid taxes or all creditors.
3) It discusses the strategy of returning social security benefits received and reapplying, sometimes resulting in a higher monthly payment depending on current age. This "do-over" offers guaranteed lifetime income but risks not paying off if life expectancy is not reached.
http://www.MinneapolisStPaulHomes.com This RE/MAX brochure explains some of the tips and techniques to successfully purchase minneapolis rental and sairnt paul rental properties and well as rental real estate throughout Minnesota.
This document summarizes asset protection strategies for physicians. It discusses how physicians are at high risk of creditors and lawsuits due to their occupation. It then outlines various solutions to manage this risk, including proper titling of assets, exemption planning, use of trusts, LLCs and partnerships to protect assets. It cautions that offshore trusts should not be used solely to avoid taxes or hide assets, as that may constitute fraud. Finally, it stresses that developing a comprehensive asset protection plan before creditors arise can help manage risks.
The document discusses various topics related to estates, trusts, and estate planning including:
1) The six steps in estate settlement including assembling estate property, safekeeping assets, paying debts and taxes, and distributing assets to heirs.
2) Different types of trusts such as testamentary trusts, living trusts, special needs trusts, and asset protection trusts.
3) Ownership forms such as outright ownership, joint ownership, community property, and trusts.
4) Reasons for creating trusts including passing wealth between generations and providing for minor beneficiaries.
This document discusses the benefits of private lending through a real estate and auction services company. It states that private lending offers high yields, monthly payments, and security through real estate collateral. Private lending involves trust deed investing and private mortgages, allowing investors to set the rules and act as the bank by lending to qualified borrowers. The process involves the borrower requesting a loan, the broker confirming the deal and introducing the investor, documents being generated, and the investor receiving monthly payments. Risks are minimized through appraisals, qualified attorneys, and insurance. The document promotes current real estate investment opportunities through private lending.
1. Not FDIC May Lose No Bank
Insured Value Guarantee
EO102 270733 10/11 | ‹#›
|1
2. Asset protection:
Preserving your net worth
• We protect our homes, cars, valuable possessions —
even household appliances
• What about our wealth?
EO102 270733 10/11 | ‹#›
3. Lawsuits target “deep pockets”
“How a jury decided that a coffee spill was worth $2.9 million”
Wall Street Journal, September 1994
“Mall sued over squirrel attack”
Chicago Sun Times, August 2006
“Dry cleaners sell shop shredded by $67M lawsuit”
Washington Post, September 2007
EO102 270733 10/11 | ‹#›
4. Are your assets at risk?
• Do you own a home?
• Are you in a high-risk profession?
• Do you own a business?
• Does your business have employees?
• Do you own rental property or real estate investments?
• Do you have significant personal savings or other valuable assets?
• Do you drive a car often?
• Do teenage drivers live with you?
• Do you have pets?
EO102 270733 10/11 | ‹#›
5. A critical part of a financial plan
Investments
Saving for
Funding
retirement
education
Minimizing Comprehensive
taxes financial plan Insurance
Planning for Asset protection
income in
retirement
Estate planning
EO102 270733 10/11 | ‹#›
6. A two part plan to protect
your assets
1 2
Minimize your Put a protection
risks now plan in place —
before something
happens
EO102 270733 10/11 | ‹#›
7. What asset protection is NOT
• An excuse or vehicle for evading taxes
• A method for hiding assets
• A way to defraud creditors
Source: Asset Protection Planning Guide: A State-of-the-Art Approach to Integrated Estate Planning, Barry S. Engel, David L. Lockwood, and Marc Merric.
EO102 270733 10/11 | ‹#›
8. Build your protection plan
Basic components Complex techniques
Insurance Incorporating your business
Insulating “hot” assets such as
Titling assets
real estate
Equipment leasing and
Homestead exemptions
multiple LLCs
Protecting retirement and Using trusts to protect
college savings your assets
This material is for informational purposes only. It should not be considered legal advice.
You should consult with an attorney to determine what may be best for your individual needs
EO102 270733 10/11 | ‹#›
9. Start with the basics
• Identify and correct property risks
• Review your insurance coverage
• Purchase umbrella liability coverage
• Apply for a homestead exemption
• Be careful when titling assets
• Identify and correct any potential risks associated with
property and real estate
• Maintain positive personal and professional relationships
EO102 270733 10/11 | ‹#›
10. Are your retirement savings
protected?
Type of retirement
account File for bankruptcy? No bankruptcy
ERISA plans:
401(k), pension, profit Full protection Full protection
sharing, ESOP
Rollover IRA, SEP IRA, Not protected at federal
SIMPLE IRA, most 403(b) Full protection level, may receive
plans, Individual 401(k) protections at state level
Not protected at federal
Traditional and Roth IRA Protected up to $1 million level, may receive
protections at state level
EO102 270733 10/11 | ‹#›
11. How college savings
are protected
Federal protection in the event of Chapter 7 bankruptcy filing
Point of
contribution 1 year 720 days
Made less than a year before After 1 year, $5,000 is Made more than 720 days
filing: NOT protected from protected before filing: 100%
creditors protected
EO102 270733 10/11 | ‹#›
12. Is your business putting
personal assets at risk?
Business owners may be at risk of legal claims
by patients, customers, or employees
Without a formal business structure,
your personal assets may be at risk
Select a method of ownership for your business
to make it difficult — or expensive — for
someone to access your assets
EO102 270733 10/11 | ‹#›
13. Structuring your business
Business
ownership Benefits Considerations
Corporation • Business owner does not bear • May be more complex to
(C corp or S corp) personal liability for debts of establish and maintain
the corporation • Adverse legal judgment
could result in plaintiff
receiving ownership shares
LLC or LLP • Easy to establish and • Some states may allow
maintain creditors to attach
• Potentially better liability ownership interest of LLC
protection than corporations; or LLP
creditor attachment may be
limited to distributions, not
shares of ownership
EO102 270733 10/11 | ‹#›
14. Insulate “hot” real estate assets
Separate LLCs can insulate risky assets from personal assets
LLC #1 LLC #2
Summer
Apartment
Personal assets rental
building
cottage
• Primary residence
• Bank accounts
• Investments LLC #3 Liability for one
• Personal belongings property won’t affect
Commercial other properties or
real estate personal assets
EO102 270733 10/11 | ‹#›
15. Example: Using leasing and
multiple LLCs to protect assets
LLC#1
Equipment
Equity in these
assets is NOT
The medical practice contained in the
leases office space and
Medical equipment from the medical practice,
practice LLCs where it could be
at risk
LLC#2
Real estate
EO102 270733 10/11 | ‹#›
16. Using trusts to protect
your assets
Type 0f trust Asset protection considerations
Irrevocable trusts • Typically prevent trustee from making distributions to
satisfy creditors of the trust beneficiary
Offshore or • Trustee is not subject to jurisdiction of U.S. laws and courts
foreign trusts • Creditors may find these assets more difficult/expensive to
target
• Certain court cases have exposed limitations
Domestic asset • Trustee and beneficiary are same person
protection trusts • Designed specifically to protect assets from creditors
• Relatively new, available in a few states; lack of existing
case law to provide precedent of their effectiveness
EO102 270733 10/11 | ‹#›
17. Your action plan
• Meet with your financial advisor
• Review current assets and determine your net worth
• Take care of basics, such as insurance coverage
• Identify and minimize any prevalent risks
• Consult with an attorney
EO102 270733 10/11 | ‹#›
18. Investors should carefully consider the investment objective, risks,
charges, and expenses of a fund before investing. For a prospectus
containing this and other information for any Putnam fund or
product, call your financial representative or call Putnam at
1-800-225-1581. Please read the prospectus carefully before investing.
This information is not meant as tax or legal advice. Please consult your legal or tax advisor before
making any decisions. Shares of mutual funds are not deposits or obligations of, or guaranteed or
endorsed by, any financial institution; are not insured by the Federal Deposit Insurance Corporation
(FDIC), the Federal Reserve Board, or any other agency; and involve risk, including the possible loss of
the principal amount invested.
Putnam Retail Management
putnam.com
EO102 270733 10/11 | ‹#›