There are many types of trusts designed for a variety of purposes. The Family Living Revocable Trust is generally the trust created by almost all attorneys. WHAT IS A FAMILY LIVING REVOCABLE TRUST? Many similar titles are used to mean the same type of trust. Some of these are: 1.Revocable Trust, usually meaning exactly the same as: 2.Family Trust... or 3.Living Trust... ("intervivos" in Latin) or 4.Revocable Trust... or 5.Living Revocable Trust... or 6.Revocable… Show more There are many types of trusts designed for a variety of purposes. The Family Living Revocable Trust is generally the trust created by almost all attorneys. WHAT IS A FAMILY LIVING REVOCABLE TRUST? Many similar titles are used to mean the same type of trust. Some of these are: 1.Revocable Trust, usually meaning exactly the same as: 2.Family Trust... or 3.Living Trust... ("intervivos" in Latin) or 4.Revocable Trust... or 5.Living Revocable Trust... or 6.Revocable Living Trust... or 7.Living Revocable Family Trust (or a combination of the same words in different order)A trust is better than a will. A will is basically a guide for a judge to make his determinations. Wills are often disputed and must be expensively supervised by the court. PRIVATE ASSET PROTECTION A Private Asset Trust is far better than a typical family trust. It has all the benefits of the simple trust, with additional benefits. The proper design and language of a trust can provide complete asset protection, as well as other options. Certain rules and proper legal language must be contained in the trust to provide management, protection, and privacy. Flexibility can also be included within the trust, although care must be taken to restrict flexibility that could eliminate benefits. There are ways for a Private Asset Trust to provide privacy and protect seniors, minors, disabled persons, education, structured allowances, pet care, immature individuals, medical care, convalescent care, retirement, lawsuit avoidance, investing, business management, spending, distributions, stock ownership, bank accounts, vehicles, collectables, charities, and most any other conceivable asset. You can provide for (or protect against) family members, ex-family members, friends, second families, or your favorite charity. A trust can protect assets from divorces, family disputes, and members of the family kept from being a beneficiary. Show less

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Bankruptcy Protection-Reasons to NOT File Bankruptcy◾ It costs money to file for bankruptcy. ◾ It requires you to pay attorneys. ◾ It requires you to go before a judge many times. ◾ It affects your credit for many years. ◾ It's embarrassing. ◾ It could get you into criminal trouble for a minor mistake. ◾ It could get you into tax review and more problems. ◾ It will not be effective without your spouse filing as well. ◾ It takes months, perhaps longer… Show more Bankruptcy Protection-Reasons to NOT File Bankruptcy◾ It costs money to file for bankruptcy. ◾ It requires you to pay attorneys. ◾ It requires you to go before a judge many times. ◾ It affects your credit for many years. ◾ It's embarrassing. ◾ It could get you into criminal trouble for a minor mistake. ◾ It could get you into tax review and more problems. ◾ It will not be effective without your spouse filing as well. ◾ It takes months, perhaps longer. ◾ It prevents you from starting over, until bankruptcy is done. ◾ You may not be able to select assets to retain. ◾ You will be forced to give a complete list of assets and spending. ◾ You are not able to make gifts, or transfer assets. ◾ You may not be able to maintain preferred accounts. ◾ The court will control all bank accounts and cash. ◾ The court can "undo" anything within the last 10 years. ◾ The court can recommend criminal charges.What we do:We suggest a plan that eliminates most reasons for filing bankruptcy. We accomplish the results without most of the problems. We review and recommend options without the bias of a commission. We eliminate the criminal risks of perjury to a court. Show less

Maintain Corporate ProtectionThe main reasons that Corporations exist is to conduct business. A corporation is usually designed to be its' own separate identity, therefore allowing many participants in two distinct classes; the controllers, and the passive shareholders. A Trust Instead of a CorporationIf you are trying to start a very small (for now) business, consultancy, multi-level venture, service, referral service, invention, buy-and-resell company, internet business… Show more Maintain Corporate ProtectionThe main reasons that Corporations exist is to conduct business. A corporation is usually designed to be its' own separate identity, therefore allowing many participants in two distinct classes; the controllers, and the passive shareholders. A Trust Instead of a CorporationIf you are trying to start a very small (for now) business, consultancy, multi-level venture, service, referral service, invention, buy-and-resell company, internet business, or other venture; a Private Asset Trust may be the very best way to get started. A Private Asset Trust is simpler, has less requirements, less registrations, less reporting, requires only a simple document to get started. If the business prospers and grows, it might then evolve into a Corporation or LLC. If it becomes stale or fails, the shutdown requirements and expense will be minimal.Disadvantages of an S Corporation:◾ Rules and fees: Like a C Corporation, S Corporations are required to file a number of official state and federal documents, including Articles of Incorporation and corporate minutes. They must also hold regular shareholder meetings and pay the required government fees. Concerns. Do Not Mix Business and Personal ActivityUse of the Corporation - Members should expressly refer to the Corporation in all dealings with third parties so it is understood they are dealing with the Corporation, not with the Corporation’s members in their individual capacities. Do not co-mingle corporate deposits, withdrawals, expenses, titles, entertainment, travel, assets, or liabilities. Do Not Abuse the CorporationThe courts may pierce a corporate veil if officers or shareholders use it personally, mix (co-mingle) income, banking, assets, vehicles, commit fraud, evade taxes, or other serious misconduct occurs. Example: Do not use a Nevada Corporation operating in another state like California. Show less

Audits and CollectionsAccording to a recent Barron’s article, the IRS’ new Global High Wealth Industry unit is ramping up to recoup some of the $350 billion in taxes that the government estimates is due but not collected every year. Property TransfersThe IRS is scrutinizing state property transfer records to see if corresponding gift returns have been filed. Since gifting property has become more popular as housing values started declining five years ago, this strategy may yield… Show more Audits and CollectionsAccording to a recent Barron’s article, the IRS’ new Global High Wealth Industry unit is ramping up to recoup some of the $350 billion in taxes that the government estimates is due but not collected every year. Property TransfersThe IRS is scrutinizing state property transfer records to see if corresponding gift returns have been filed. Since gifting property has become more popular as housing values started declining five years ago, this strategy may yield some results for the IRS. Canceled Mortgages and LoansThe IRS is giving a huge tax bill to many families that lose their homes or walked away from their credit card debt. They are treating the former debt as "income" for tax purposes. This includes "Short Sales" and "Debt Forgiveness". Free Consultation Trust Help Investment LossesThe IRS is scrutinizing investment losses claimed by owners of LLCs, Corporations, or Partnerships to ensure that investors who claimed losses were actively involved in the business. Home loan Interest DeductionsIf your home loan deductions exceed $70,000, the IRS will review it. Foreign Income and Bank Accounts Now that the amnesty program for taxpayers with unreported foreign income has expired, those who did not report may face stiff penalties. The countries and the banks are giving the information away without any resistance. Big Spending or Cash PurchasesThe IRS is cross-referencing taxpayers’ reported income with credit card records in hopes of snagging tax evasion and especially the Schedule C, which reports on business profits and losses. The IRS estimates Schedule C filers report only 57 percent of their income each year, which equates to $68 billion in tax evasion. Private Asset Protection is only expected to be effective PRIOR to conflicts, judgments, lawsuits, or taxes. If you have concerns, it is much better to work towards an effective solution PRIOR to the conflict. Show less