Protecting your personal residence is one of the most important things you should do, but it also may be one of the hardest to come to terms with. As long as you have equity in your home, it can potentially be taken from you or at some point in time be surrendered to an undesired party. This can occur from litigation, liens, Medicaid garnishment and taxation.
That is the bad news; there are techniques that you can use to protect your residence while you reside in it. This does not mean that if you do not pay your mortgage that you can avoid repossession. It also does not mean that you can just stick a house in a Limited Liability Company and expect that shell to protect the home.
First, you need to understand a basic principle in law; that is jurisdiction. A judge has authority in his or her court over certain things, subjects, geographical areas and other legal issues. A property or piece of real estate is within a certain jurisdiction or rule. Since a property is a physical asset and has a permanent place, title can be taken by a judge with authority over this jurisdiction for good reason, bad reason and maybe even in the eyes of the property owner no reason. Although the judge is likely to have legal reason, a judge can permit a judgment or lien within a jurisdiction if he sees it to be proper and legal.
SupportStaffIn our global economy, your financial heath can be threatened in unsuspected ways and from unsuspected places. Geopolitical events are now causing economic inconsistencies that were not present in years past. While frivolous lawsuits are still an ongoing concern and can quickly wipe out your nest egg, downturns in the stock market, divorce, tax authorities, currency devaluation, and the like, can devastate your life and well-being.
Issues of rights, lawsuits, estate planning, investments and taxes are some of the battles that we all face in wealth preservation. Winning the war only occurs when your business, your employment, your estate and your tax planning all flow together into a non-libelous and protected plan, with each asset being safely protected from every harm that may occur.
Using international structures in a tax compliant manner can help you invest, work, and money in a global economy.
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