Learn To Do Asset Protection The Right Way

The Universal Group utilises the skills of Solicitors, Accountants, Financial Advisors and Assets Protection Trust Experts to provide a range of specialist planning solutions.

Norfolk, United Kingdom (prHWY.com) December 14, 2012 - If you think that you can open a trust without any prior research and thinking then you are dead wrong. If you think that opening a trust with your assets and you can protect your assets then you just got it half right.

You can understand this from a very recent report from Forbes. It describes how a civil engineer managed to botch it up with his firm and was left penniless. It all started with a pool that a couple wanted a pool for their home. This was the year 2000. They hired a contractor who hired the engineer to test the soil and prepare a soil report. In 2008 the pool cracked and a lawsuit poured onto the head of the engineer.

However this was not the trouble. The trouble began in the years leading up to the lawsuit. In 2004 the engineer got worried that he might get sued by somebody. Poetic right? So what he does is that he builds three trusts with his own personal assets. These are spending thrifting funds and are not good for investing in. In one of the funds he drops the bulk of his assets including the office he works out of and the home he lived in. Very ill considered, all this left him about $500 to his name. When all hell broke loose in 2008 when he lost the lawsuit he was left with absolutely nothing to pay for the settlements. His office building could not be auctioned off because it was the property of the trust.

There is no harm in seeking an Asset Protection but it is always to do it the right way.

Company details:

The Universal Asset Protection Trust has been created to secure your resources for you during your lifetime and provides you the satisfaction that they can complete on safely and unchanged to your partner, your kids and their bloodline (or other known as beneficiaries) after your passing away.

Universal Asset Protection
Universal Group
Oakwood Manor
East Harling
Norfolk
T: 0800 542 8243
enquiries@universalassetprotection.co.uk

###

Tag Words: lasting power of attorney, asset protection trusts, asset protection

Categories: Legal

Link To This Press Release:

URL HTML Code