“Can one still secure trust asset protection after a lawsuit has been filed?”. Is a great and important question.
In some scenarios, asset protection is attained even if a lawsuit is already in motion. However, it’s crucial to be vigilant about issues related to fraudulent transfers.
The essence of asset protection revolves around establishing legal structures. These structures are to make it exceedingly challenging for creditors, plaintiffs, opportunists to target your assets.
Yet, if you haven’t already put these structures in place BEFORE facing a lawsuit, the road ahead can be arduous.
However, even with the most secure trust – it doesn’t eliminate the risk of fraudulent transfers.
One thing to note is that it’s often better to have someone sue the trust rather than personally targeting you. Nevertheless, even with a secure trust, the risk of fraudulent transfers persists.
The KEY to Reliable Trust Asset Protection
What Are Fraudulent Transfers/Conveyances?
A fraudulent transfer or conveyance entails the illicit or unjust transfer of property to another party. One type, known as “actual fraud,” aims to delay, obstruct, or defraud creditors or place assets beyond their reach in anticipation of or during bankruptcy proceedings.
If a property transfer is fraudulent, a court may compel the person in possession of the assets (the recipient of the conveyance) to surrender the assets or an equivalent monetary value to the creditor. This situation can result in the trust being ‘pierced.’
Creditors and plaintiffs can only come after assets that you legally own; a Bulletproof Trust provides relief against this burden, but only if proper conveyances have been made & ideally before a lawsuit gets filed.
It’s a HUGE risk to wait to protect your assets. We’ll teach you everything you need to know to setup your trust, make proper conveyances and run it all as trustee.
Is it possible to achieve asset protection AFTER a lawsuit is filed?
The short answer is Yes – but that path is full of caveats & you run the risk of fraudulent conveyances which could allow the courts to pierce the trust (thus allowing your assets to be seized.)
That’s why we recommend getting your Bulletproof Trust & trust web structure established as soon as possible.
If you feel that a lawsuit could be brewing because of conflict with creditors, individuals, or business entities that could become plaintiffs, the time to act is RIGHT NOW.
Get the Bulletproof Trust Secrets program.
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