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Maximum Asset Protection
– Tips and Information
By Kathy Kennebrook ( The Marketing Magic Lady )
A Discussion on the Importance of Protecting Your Assets
Throughout your life , no matter who
you are or how you earn your living , you need to be concerned about protecting your assets . Your assets may include your home , vehicles , jewelry , boats , artwork , properties and whatever other assets you accumulate along the way . After all , you work hard for what you have and there are always going to be people out there who want something for nothing . The more money you have the greater a target you become , and you ’ ll want to protect yourself from frivolous lawsuits .
In the real estate investing business this is especially true . The real estate business is one of those where you will be piling up assets quickly . If you are holding properties and you have tenants or tenant / buyers in your properties , this can make you an even bigger target for possible lawsuits . For this reason alone you want to be holding your assets in another entity , such as a land trust in order to keep your name off of public record . The main advantage to purchasing properties in land trusts or other entities is anonymity . If everything you own is in your own name , it makes it easy for someone who wants to sue you to find out what you have . If a plaintiff ’ s attorney looks on public record and it appears that you have nothing , you are much less likely to be sued .
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