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Hi, my name is Rocco Beatrice and I'm the Managing Director for Estate Street Partners.
In a litigious society how do you protect yourself from a lawsuit?
The easiest most compelling way is for you to be able to say "Sue me.
I own nothing. You'll never get a dime."
You put yourself in a position by truly divorcing yourself, with an irrevocable trust asset protection plan, from your money,
your car, your CDs, your stocks, your bonds -
they're all owned by a third party.
And who makes a third party?
An irrevocable trust with an independent trustee is the owner of your assets.
The independence of the trustee determines that you don't have any visible
relationship to the irrevocable trust.
As a third party holder it is not subject to a distribution to a potential past,
present, and future creditor since you don't own the asset.
And since the individual that is going to be sued is you as an individual they look
to see what assets do you actually own in your name.
Do you own a house in your name? Do you own a car in your name?
Do you have certificates of deposits in your name?
Do you have any assets in your name?
In the process of someone filing a lawsuit against you most likely the first
thing that the contingency lawyer is going to do is do an asset search.
Do you have assets?
He's definitely not going to take the case if at the end of the lawsuit he's not
going to be able to get paid and he's not going to be able to get paid because you
don't have any money.
So most likely you just avoided the lawsuit because you didn't make yourself
any easy target. Key ingredient?
You didn't make yourself an easy target.
This is Rocco Beatrice - for this article and more on irrevocable trust asset protection please visit our website www.UltraTrust.com.