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My Asset Protection Strategy

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  • #61
    Originally posted by Klemens View Post
    Because I explained how I studied the subject and how I set it up as DIY fashion, people (who may have no real knowledge about subject) assumed that is not a good plan and even called it as a “scheme” as if I want to hide or avoid something illegally. Other compared me to as self-treated symptoms and not getting real treatment from doctor. LOL.


    A scheme doesn't imply anything illegal and I don't think anybody here has accused you of trying to do anything illegal. As for the "hide" something portion, you said it yourself in the original post. It looks like you own nothing. The whole goal of asset protection is to shield, or hide, them from possible creditors.


    Originally posted by Klemens View Post
    What if I disclose that my plan was designed by a specialized asset protection attorney, would it change the way other members “advised” here? It still does not change the facts about the plan structure. At that time, I would bet no one who has no real knowledge about this would call it a “scheme” without providing specific “holes” in the plan. I didn’t want to have a pre-test bias when I originally posted my plan to obtain a real opinion from those who knows the subject.


    I think everyone here has encouraged you to seek the advice of an asset protection attorney. Nobody has recommended that you create one from a YouTube video. Seeking personal advice and feedback from somebody who is qualified to give it is very different from having an attorney endorse your structure. So far, you've said you spoke with attorneys who said that it depends what the judge says. That means one of two things to me. One, you're talking to the wrong attorneys. You should be given very specific answers and solutions to possible problems. Secondly, that response wouldn't instill confidence in the plan I have outlined.


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    • #62
      also, if you get sued, you're going to have to find an attorney who is willing to defend your current setup. Perhaps you already are working with an attorney who would represent you in such case.
      my radiology group is hiring, pm if you can do msk and are interested

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      • #63
        If we cannot add more value to the community here for the readers, please end this discussion. I appreciate all your inputs. Thank you very much.

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        • #64
          Per original poster's request, topic closed.

          For other forum members, I strongly recommend that you engage a reputable trust and estate attorney licensed to practice in your state, rather than attempting to "roll your own" asset protection plan.

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