Best Reasons for Private Asset Trusts
Most people say the best reason to write a trust is to avoid probate (including most estate planners), but avoiding probate is not even the second best reason to write a trust. Avoiding probate benefits your loved ones, but doesn't benefit you since you have to die to receive it.
I found a site on page two that said, "Avoiding probate is one of the top reasons for estate planning", but he didn't say what was the best reason.
In 2008 I did the same search for, best reason to write a trust on google and only found two listings and both were mine TheProtectionBook.com and ThePrivacyBook.com The other 8 listings had nothing to do with "Trusts".
I then searched for, reasons to write a trust and the first listing was an article by Steven W. Allen, JD, an expert Estate Planning Attorney with over 30 years experience titled, "Top 10 Reasons You Need A Trust."
Here is Mr. Allen's list:
- You keep control.
- Your trust avoids probate.
- It takes less time.
- Low maintenance.
- Your privacy is maintained.
- It is less expensive.
- No special government forms are needed.
- Special gifts are easy with a living trust.
- Eliminate or reduce estate tax.
- Effective Pre-Nuptial Planning.
Best Reasons for Asset Protection Trusts
Can you believe an estate planner who practiced law for 30 years wouldn't know the best reasons for asset protection?
There was another article on page two that was written by a lawyer titled "Six reasons to write a trust"
Here is this list:
- Avoiding Probate.
- Protecting Property for Certain Beneficiaries.
- Avoiding a Will Contest.
- Reducing or Eliminating Estate Taxes.
- Managing Property upon Incapacity. One of the major concerns that many of us have today is not about dying.
There was another article on the first page titled, "Living Trusts - Reasons to use it - Avoid Probate", which mentioned the second best reason to write a trust, but left out the best reason to write a trust.
Here is another article that left out the best reason because he didn't know or didn't want to reveal the best reason.
The second best reason is your ability to avoid Guardianship, which also isn't mentioned in any listing or estate planning books; maybe because it makes so much money for the lawyers, courts, and the state.
When I learned the second best reason, I was so excited, I added another chapter to my other book, True Trust.
I had been an estate planner for many years and thought I knew everything worth knowing about estate planning, but I changed my mind after meeting the doctor and learning about a special type of trust that is rarely mentioned in law schools.
A few months later, I met a doctor who told me about a special kind of trust that he has used for 35 years that had protected him from being sued. He said his special trust provided bulletproof asset protection. After some persuading, he agreed to share his knowledge of trusts and gave me a copy of his personal trust to use.
I had read many stories about rich people using certain types of trusts, but didn't know anyone with personal experience, who knew first hand, just how powerful this trust is.
After several months of conversation with the doctor, I added another new chapter to my book that explains private asset protection! This new information is so powerful, you'll quickly understand the basics and how to start creating your trust. We go into even more protective techniques and privacy details with our trust members.
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