This is the final part to our discussion aimed at helping owners and officers avoid personal responsibility for the obligations and liabilities their companies take on in the course of doing business. The first part provided an overview of the key issues related to corporate liability. The second part focused on what not to do. Here, we get to proactive techniques for guarding against personal responsibility.
Transferring assets to a trust is a simple and cost-effective way to protect assets and plan your estate.
Most people are unaware of the valuable tool a trust can be for estate planning and asset protection.
In our practice as real estate attorneys, we frequently hear “my house is in my mother’s name,” “I used my friend’s credit to buy my house,” or something along those lines. It is actually quite common for people to “borrow someone’s credit” or title a property in someone else’s name, and the reasons behind it are understandable enough. The purpose READ FULL POST