Asset Protection Expert Kevin Wessell of Companies Inc. Says New Bankruptcy Laws Mean Shielding One's Assets More Than Ever Before
Los Angeles (ContentDesk) September 30, 2005 -- "Asset protection (lawsuit protection) is more important now than it has been in the history of the US," asserts Kevin Wessell, the asset protection expert and who heads LA-based Companies Incorporated."Beginning in October 2005 a new law will go into effect that eliminates Chapter 7 debt elimination bankruptcy for 50% of the population. If you made more than the median income of your state, you can no longer wipe out your debts. You will be forced into a chapter 13 bankruptcy instead which gives the courts control of your spending and allocates a significant portion of your income to your enemies-at-law," said Mr. Wessell.Asset protection is controversial. Some say, "Well if you loose a lawsuit, you should pay." Where others agree with the attitude, "I've worked hard for my money.
If someone wants to take it away from me, they are going to have to work much harder," according to Mr. Wessell.
Mr Wessell went on to say:
"Let's say you get into a car wreck. You don't notice a stop sign and you sideswipe a stockbroker. He is seriously injured and requires hospitalization.
The stockbroker's attorney sees that you own a home, a car and have a bank account. Once they see you have assets to seize, the attorney agrees to take the case. The judge deems you responsible. You get judgment against you for one million dollars. The good news is that you have $500,000 of insurance.
But the bad news is that you only have $500,000 of insurance.You get a phone from the opposing attorney saying, ?Write me a check for $500,000'.You say, ?I don't have the money.'?I'll help you then,' he says.You wake up one morning and your checking account is empty. Then
your savings account is empty.
Pretty soon the Sheriff pulls up in front of your house demanding that you leave. You house is sold on the courthouse steps. You are left, broke, confused and embarrassed?and homeless.
Did you know that most homeless people are not wandering hobos? Most are people like you and me who lost everything in scenarios such as the one we have just described. "So, what do I do?" you may ask.
Well, since you asked, here is a solution:Asset protection.The secret to asset protection consist of these two points:1.????Own "nothing."2.????Control "everything."What I mean by own nothing is to not own anything in your own name. Instead, own assets inside legal tools that can protect your assets and your privacy. These legal tools allow you to have control of your resources without having them titled in your name.
Below are some examples.How do I protect my home?One's personal residence can be owned by a land trust. A land trust is a legal document that is used to keep the ownership of real estate private. The public records show that your home is owned by a trust. But it does not say who holds the beneficial interest in the trust.For details, click this link: Land Trust Information
How do I protect my savings and investments?It depends on how much you have to protect. For smaller amounts, a limited liability company (LLC) is a good choice.
When you are sued, personally, there are provisions in the law such that the assets you have inside an LLC can be protected from being taken away from you, Mr Wessell points out..For details, please click here: LLC FormationFor larger amounts, the offshore asset protection trust is arguably the strongest legal tool available. When a judge in your jurisdiction says, "Give me the money," the licensed, bonded offshore trustee can refuse to comply. Since the judge does not have jurisdiction over the foreign trustee; your money remains safe and secure, he said.For details on the offshore trust, please click here: Offshore Trust for Asset ProtectionHow do I protect my rental properties? On rental properties, Mr Wessell says, "each rental property may be placed in separate land trusts for privacy of ownership. The land trusts, in turn are owned by LLC's for asset protection and lawsuit protection. It is prudent to keep the equity per LLC, if possible, to $200,000 or less".How do I protect my cars?Protecting cars is a bit trickier, says Mr.
Wessell. "In a car wreck two parties are sued: the driver and the owner. Since you will likely be the driver of your own car, you will be on the hook either way. So, here is what we do for cars:1.????Place the car in a title holding trust for privacy of ownership. This will make it difficult for someone to find that you own the car when they are conducting a public records search.2.????Place a lien against the car using an LLC that you own privately.""It is essential that one does not mix safe and dangerous assets.
That is why you would not place your car in the same LLC that owns your cash or mutual fund investments. In the event of a collision, the cash would be an easy target.""Though the new bankruptcy laws make it more difficult to wipe out debt and liability from a lawsuit, there are some important steps you can take to protect the things you have worked so hard to attain. "About Companies IncorporatedEstablished in 1977, privately-held Companies Incorporated serves both large and small businesses throughout the USA and in some foreign locales with incorporating services, establishing LLCs (limited liability companies) to creating offshore companies aimed at protecting assets to legally reducing annual taxes.
CI also provides services to establish S corporations and non-profit organizations as well.
CI holds national seminars on its various services, most recently to a sell-out gathering of professionals in a prestigious Las Vegas hotel.CI is based in the Los Angeles area at 27200 Tourney Road, Santa Clarita, CA 91355.
For more information about protecting your assets, call Companies Incorporated at 800-830-1055 or visit www.companiesinc.com.
Superb Dodge Custom Parts now available at Inner Auto
An elegant look and exceptional appeal for your Dodge Colt come with custom parts and accessories. Customizing the Colt is surely a hit for enthusiasts who want a personalized appearance for their car. Do you want stylish protection for today's expensive headlights? Inner Auto's customized headlight cover is the answer. Each application is custom designed, ensuring a perfect fit while enhancing the clean lines of the vehicle.Custom tailored carpeting rejuvenates a vehicle's interior while radio-wiring harness lets you add a universal radio to any system almost effortlessly! Plug your new radio directly into factory-installed wiring harness. Dodge Colt's interior can have that fresh air comfort in all weather conditions by customizing.
Clean, fresh air circulates throughout the vehicle's interior, while stale air and smoke is drawn out through the window. You can also eliminate window fogging and cool parked vehicles.Designed in a new sleek profile, these custom parts' subtle styling...
Superb Dodge Custom Parts now available at Inner Auto
Car insurance > Superb Dodge Custom Parts now available at Inner Auto
Lease Car Hire Cape Town
Car hire in Cape Town, South Africa is a matter of selecting the right rental agency. There are several car rental agencies in Cape Town that provide competitive services for customers. They rent out all kinds of cars ranging from family cars, luxury sports cars, and SUVs to beach buggies and limousines.
Cars can be hired on a daily or weekly or even monthly basis. The minimum rental period is 24 hrs and maximum is 30 days, though it can be extended.
The minimum permissible age of the driver is 21 years.
You can hire Audis, Fiats, Mercedes, Peugeots, Seats, Volkswagens and many other models of cars. Some of the common categories are: mini, luxury, premium, standard, intermediate, minivans/MPVs, SUVs, and compacts. The prices, policies and conditions vary greatly according to the kind of car. Professional chauffeurs are also available with some cars. Prices range from R 195.00 per day (between 3-6 days), R 170.00 per day (7-13 days) and R 145.00 per day (more...
Car insurance > Lease Car Hire Cape Town
Lease Car Hire Cape Town
Car hire in Cape Town, South Africa is a matter of selecting the right rental agency. There are several car rental agencies in Cape Town that provide competitive services for customers. They rent out all kinds of cars ranging from family cars, luxury sports cars, and SUVs to beach buggies and limousines.
Cars can be hired on a daily or weekly or even monthly basis. The minimum rental period is 24 hrs and maximum is 30 days, though it can be extended.
The minimum permissible age of the driver is 21 years.
You can hire Audis, Fiats, Mercedes, Peugeots, Seats, Volkswagens and many other models of cars. Some of the common categories are: mini, luxury, premium, standard, intermediate, minivans/MPVs, SUVs, and compacts. The prices, policies and conditions vary greatly according to the kind of car. Professional chauffeurs are also available with some cars. Prices range from R 195.00 per day (between 3-6 days), R 170.00 per day (7-13 days) and R 145.00 per day (more...
Car insurance > Lease Car Hire Cape Town
Superb Dodge Custom Parts now available at Inner Auto
An elegant look and exceptional appeal for your Dodge Colt come with custom parts and accessories. Customizing the Colt is surely a hit for enthusiasts who want a personalized appearance for their car. Do you want stylish protection for today's expensive headlights? Inner Auto's customized headlight cover is the answer. Each application is custom designed, ensuring a perfect fit while enhancing the clean lines of the vehicle.Custom tailored carpeting rejuvenates a vehicle's interior while radio-wiring harness lets you add a universal radio to any system almost effortlessly! Plug your new radio directly into factory-installed wiring harness. Dodge Colt's interior can have that fresh air comfort in all weather conditions by customizing.
Clean, fresh air circulates throughout the vehicle's interior, while stale air and smoke is drawn out through the window. You can also eliminate window fogging and cool parked vehicles.Designed in a new sleek profile, these custom parts' subtle styling...
Superb Dodge Custom Parts now available at Inner Auto
Car insurance > Superb Dodge Custom Parts now available at Inner Auto
A business support service opens in Tampa, FL.
September 8, 2003 -- In the past the solutions for a business owner without the resources to hire a full time employee have been rather limited; either hiring an expensive temporary employee or inheriting all of the costs and responsibilities that come along with full time support, or even worse turning away work. Simplified Business Solutions offers many ways to simplify your business, and streamline your production. We provide solutions tailored to your specific needs, in all areas, from administrative assistance to technical support and even large-scale systems implementation. SBS is a customer focused, service driven company capable of handling the varying needs of today's dynamic business world. Services provided by Simplified Business Solutions include:?Administrative Support?Event and Meeting Planning for business as well as personal?Notary Public service?Word processing?Personal Assistance?Scheduling?Presentations?Web Site Design and maintenance?Graphic design?Technical SupportWe...
A business support service opens in Tampa, FL.
Car insurance > A business support service opens in Tampa, FL.
Cheap Cell Phones
Nowadays you can find cheap cell phones from any cell phone provider.
They all have phones ranging from free to about $100 for new and current subscribers.
Many of these cheap cell phones may even be more than that but have a mail in rebate to get them below that $100 price.
This has made it easier for almost anyone to get a cell phone since they are no longer only for the "rich."
It's a fast growing trend.
Part of the new pricing for cheap cell phones is a lure for companies to get new business.
This not only includes gaining new clients who have never owned a cell phone but also trying to steal clients from their competitors.
Not only can a buyer find deals at the local stores, places online like www.cellphonecellphone.com also have deals.
Getting a cheap cell phone isn't just about the phone anymore either.
Accessories are a big part of having a cell phone.
And truthfully having a headset...
Car insurance > Cheap Cell Phones
Make Your Own Gourmet Gift Baskets
Everyone loves to receive a gift basket. Corporate gift baskets are often given by businesses to their customers as a token of their appreciation. However, most gift baskets are person to person expressions of love and friendship.You can find a great selection of online gift baskets from the very expensive to the cheap. Or, you can come up with your own unique gift basket idea and surprise a cherished friend or loved one.It's not difficult to make your own personalized gift baskets. Most gift...
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Car insurance > Make Your Own Gourmet Gift Baskets
"Groove in the Grove" Free Public Concert and Gala to Benefit AIDS Memorial Grove
Media Contacts:Gina Gatta, 415.577.0404Maria Moyer-Angus, 510.384-4604Materials and photos available at www.aidsmemorial.orgSAN FRANCISCO, CA -- The National AIDS Memorial Grove will present its spring fundraising gala, Groove in the Grove, on Friday evening, May 21, 2004 from 7:00 to 11:00p.m. The event will be held under a tent erected for the occasion, in The Meadow at the seven-acre memorial in Golden Gate Park. Roberta...
hearing aids Asset Protection Expert Kevin Wessell of Companies Inc. Says New Bankruptcy Laws Mean Shielding One's Assets More Than Ever Before "Groove in the Grove" Free Public Concert and Gala to Benefit AIDS Memorial Grove
Car insurance > "Groove in the Grove" Free Public Concert and Gala to Benefit AIDS Memorial Grove