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Asset Protection Lawyer - A Guide to Asset Protection

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There are certain key elements you want to protect during a divorce. Asset Protection in a divorce usually consists of actions involving a spouse. Spouses who want to protect there finances and avoiding splicing property up. Personal property and marital property are the assets they are looking to protect. Even if the said property is in a single name. It may still be subject to division under the laws of the state or court system.

Inheritance and distinct property can possibly be separate from marital property. But individual property can and does sometimes get mixed up with marital property. If you have personal property such as money that was put into any marital accounts after you were married. These funds are now marital property.

This instance is where it would have been handy to have had a prenuptial agreement. This in turn would have helped to keep your assets safe. But if there is no such agreement your most likely going to loose at least have of those funds.

In this case protecting your individual assets would have saved you a lot of trouble. This would be called an Individual Asset Protection. This would have been included in the a fore mentioned prenuptial. Simply put, To keep your asset's safe you would have just not included these funds in the marital accounts. In this light a prenuptial is not necessary to protect yourself with asset protection.

If before marriage, All to keep Asset Protection in a divorce. Just keep your accounts separate and you will have used Asset Protection in divorce. As you can see Asset Protection can be very simple or very complicated. Especially if involving a court of law. You never know what a judge of the courts may do or order during a divorce.

You may have certain other rights in your state of jurisdiction. Remember that some states don't allow the protection of asset's in any circumstance. Know your state and local laws in this area. Also certain country's don't allow asset protections in any form.

Have your asset's planned before you get married to avoid any hatred or despise for the other party. It is that simple to make asset protection in a divorce work for both party's involved.

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Asset Protection Lawyer - Asset Protection Planning - Why Go Offshore

Asset Protection Attorney

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To safeguard your rental assets and properties there are some simple things that you may consider.

Prepare a strong and sound lease agreement

When there is some problem with the tenants or with your property, the first and foremost thing is to produce the lease agreement in the court of laws. A vital aspect of a lease agreement is to obey the state and local laws. So your chief requirement should be an airtight lease agreement.

Purchase properties in the name of a legal entity

Always try to build a legal entity under the name of which you could purchase property. Also ensure to have a joint ownership of the property. This would help avoid problems related to suing or litigation by others. As when you own a property in your name, it will instantly show up as an asset if someone chooses to sue you and this can call for serious legal problems.

You should also restrict the number of properties that each of your legal entities own as all the other undertaken properties would be susceptible, if even one among them is litigated. Hire reputable providers for proper asset protection services, when you find self-management difficult.

Provide appropriate legal disclosures to the tenants

You must give the tenants the most authentic and legal real estate disclosures while they are signing the agreement. An agreement with loop holes can make your tenants are successful in suing you if they wish to. Remember to check all your local landlord and real estate laws before creating the agreement and if required contact a local real estate lawyer specializing in landlord-tenant law.

Decent property management and tenant screening

Screening tenants is a real tactful and hard job, requires keen investigating knowledge and proper assessment, understanding for scrutinizing both individual and business tenants. The main purpose of this screening is to evaluate the probability of the tenant in fulfilling the terms of the rental agreement and also in taking care of the rental property in question.

Property management is an equally important aspect of property protection. It's always true that a good landlord who responds to his tenants when they call for a problem or concern about their legal assets, are less likely to be sued. So keeping a good rapport with your tenant is very essential. You can even hire property managers instead to help you manage and protect your rental properties in an efficient way.

All of these can prove to be highly time consuming and complex for most of you, so opting for some asset protection services could help greatly in bringing down all the hard work and tension related to managing your rental property.

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