Why The Need for Asset Protection

Unfortunately, we live in a litigious society. Odds are, if you have not been sued by someone, at some point you may be. Because of the high likelihood of being involved in a lawsuit, you want to make sure that your assets are very well hidden from the judgment liquidators. The law allows you to protect what you have earned. You have the right to protect your property, but you must act NOW! Once the lawsuit has been filed, it is too late. Moving assets at that point is considered concealment and you may face possible criminal charges.

Many people have lost wages and property because of lawsuits. These people have faced the agony of law enforcement coming to their homes to kick them out and all family property and heirlooms sold at auction to total strangers. Proper planning done NOW will prevent this from happening to YOU!

Another threat to your assets is the most feared three letters in the English language, The IRS! You can do everything right and still get in the way of the IRS. The whole process starts with some kind of letter which turns into larger and larger bills which turns into liens, levys and and eventually an auction selling all of your prized possessions to a total stranger!

You see, they can only take what you own. When assets are in your name and also in your social security number (mostly financial accounts) they can see it and take it away, if they can not see it, they can not take it! Act Now! Protect what you have before this happens.

Private Unincorporated Non-Profit Associations- The Best Asset Protection Vehicle

We offer the BEST asset protection vehicle available. Private unincorporated non-profit associations offer you total privacy and control to enjoy your assets better than any other vehicle out there. First of all, our associations are registered PRIVATELY in the State of California and have obtained an EIN from the IRS for banking purposes. Your name and social security number will be kept away from any government data bases as being linked with your association. This means judgment and tax creditors will not be able to find your property and because they can not find it, they can not sell it! This is what good asset protection is all about! Own nothing, control EVERYTHING!

The Benefits of Registering in California

Registering your association in California offers very big benefits. First of all, the State of California offers the benefit of the jurisdiction of law to operate from regardless of what state your assets are in. The law of California states that the operators of the private associations are NOT personally responsible for the debts of the association UNLESS they volunteer to be responsible.

Second, the original association filing documents in California is kept PRIVATE and will not show up in ANY public searches. The creation of your association is kept PRIVATE! Privacy means your assets can not be found! This is good!

Associations are Legally Outside of the Income Tax System - Protect Your Profits

The private unincorporated non-profit associations fall under section 508 of the Internal Revenue Code and thus monies and property paid or donated to associations are NOT taxable.

Because associations are tax excluded, they provide a safe way to legally avoid income taxes on profits from an LLC or certain other businesses. Profits earned from your membership in an LLC can be donated to an association pretax thus legally avoiding the income tax. The donation can also be used as a tax write off.

The association is self supporting. The association can also earn monies from self supporting activities like E-Commerce and other income producing ventures.

Avoiding Probate

A sad state of affairs has taken over the American legal system especially when it comes to probate, or the distribution of assets after the death of an owner. The laws and the courts allow probate attorneys to charge exorbitant fees to the estates of the deceased. This fee racketeering practice often leads to attorneys pillaging and stripping the estates of much and in some cases ALL of the assets and value leaving NOTHING for the family members named in a will. Our private associations are fantastic in avoiding this egregious tragedy. You, as the secretary of the association, can name a successor secretary, your heirs, to take your place upon your passing, thus seamlessly passing your assets to your family and loved ones while avoiding the pitfalls of probate. This means the raiding attorneys will have to find some other unsuspecting victim somewhere else, because you planned ahead and prevented him from getting involved. This is asset protection at its finest!

Open Banks Accounts All Over the World

ou can actually set up bank accounts just about anywhere in the world and hold assets in other countries. Each foreign jurisdiction may treat the association differently so due diligence is required before operating the association in foreign countries.

Associations can pay your living expenses

Associations can actually pay your expenses and pay for your daily living needs. The associations and pay for expenses like:

• Mortgage payments
• Property tax
• Utility bills
• Insurance Payments
• Food and entertainment
• and more...

Why private Associations are Superior to Other Asset Protection Methods

Trusts

Trusts are probably the most popular and most widely used asset protection method available today. This is unfortunate because, there are many pitfalls and hazards to using trusts.

1. Trusts can be complicated and tricky to operate. The roles of those in the trust are often confused and can leave the door open to having the trust pierced and assets liquidated.
2. Simple mistakes and errors can lead to imprisonment. Making a simple mistake in setting up or operating a trust can cause one or more of the partys of the thrust to end up in prison. The only way a party of an association can go to prison is through committing an actual crime with the association and NOT through a simple mistake. An example of a crime with an association would be using the association to commit title fraud. The association will not protect you from this.
3. Finding a trustworthy trustee- If you are not going to be the trustee of your trust, then you will need to find a trustee who knows what they are doing and are trustworthy. The hard truth of trusts are that a trustee does NOT have to follow the trust instructions. There are many stories of trustees simply taking the money and running! Furthermore, you will most likely have to pay this trustee which could become VERY expensive. With associations, YOU are in charge so this can not happen.
4. Trustee liabilities can liquidate the trust. In many cases, the trustee has what is called the incidence of ownership. This means, if the trustee has a judgement or an IRS obligation, the assets of the trust can be liquidated and sold to satisfy his liabilities. Yes, this really happens! With an association, you do not OWN the association so there is no incidence of ownership, this means, your assets are safe.

LLCs can offer a limited amount of protection depending on whether it is a single member or a multi member LLC. A single member LLC is almost the same as having NO protection at all whereas a multi member LLC can offer some protection from liquidation but may not offer ANY privacy. Creditors can find the assets fairly easily and those assets could be easily seized if and when they are removed from the LLC.

Corporate Soles

Corporate Soles are publicly registered and offer very little if any privacy and may come with criminal liability as well. There are number of Corporate Sole owners who have ended up in prison and have had assets liquidated. This method of protection may be among the worst available. Associations are privately registered and are safe to operate.

Do not wait until the lawsuit or Tax liens are filed, ACT NOW to protect what you have! Contact us today for a free consultation, time is of the essence!

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