Asset Protection Services
Protecting assets can also be a process of transferring them into exempt assets to the extent permitted by individual states.
Utilizing exemptions as a form of asset protection should be cautioned, as certain creditors are not subject to state exemption. Some of these examples are federal tax liens, state tax liens, alimony and child support, purchase money retailers, and mechanics liens.
What Can Business Done Right Inc Do to Protect Your Assets?
- Protect and Insulate Accounts receivable, plus all personal assets
- from creditors/lawsuits
- Protect equipment
- Protect copyrights, trademarks and patents
- Protect from foreclosures
- Use of Friendly Liens or Equity Stripping
Equity stripping (sometimes called Friendly Liens), is the process of reducing the equity in your real estate or other equity heavy assets. It is a long used asset protection strategy.
Note that there are certain requirements that you must meet in order to ensure the Friendly Liens, technique is effective.
Friendly Liens
Equity stripping is conducted to make your real estate valueless to creditors. There are several different equity stripping methods.
They all make the equity in your property costly for creditors to obtain, thereby insulating your property from creditor attachment.
BUSINESSES OWNERS DO NOT LOSE THEIR ASSETS BECAUSE SOMEONE ELSE USED LEGAL REMEDIES; BUSINESSES LOSE THEIR ASSETS BECAUSE OF THEIR OWN FAILURE TO USE THE LAWS THAT ARE IN PLACE TO PROTECT THEM.
