TRUE STORIES
In July 2005, a very successful realtor who owned several properties, life style suddenly turned sour. She gave her teenage daughter the keys to one of their luxury vehicles. Her daughter was very excited. To mention, she just received her driver's license. Later, the realtor received a phone call about her daughter's involvement in a major accident. The vehicle was totalled in addition to a large amount of city public damage. The person her daughter hit hired an attorney, who immediately conducted an asset search. The attorney found the list of all properties owned by the driver's mother (the realtor).
The attorney stated, yes, I'll take this case. He found there was over $500,000 in equity collectively on the properties. The attorney filed suit against the realtor for damages incurred during the accident. If the suit is not paid, a lien would be posted against all properties, preventing the realtor to sell or re-finance the properties until the suit is satisfied.
QUESTION: Where was the Asset Protection on the homes?
Had the realtor established an Asset Protection Plan on all the properties, this would have never happened. The attorney would only be able to recover the amount covered under her auto policy. Why do we allow ourselves to become prey and victimize ourselves of financial grid this law system takes advantage of? If we continue to allow these things to happen, we will never be able to fullfill our dreams.
Try walking backwards if your backs in the corner. It's impossible to do. Try going to the bank to make a withdrawl if there's nothing in the account. Never happen. Try obtaining the best interest rate for a home, if your credit-worthiness is absolutely destroyed. Won't happen until you correct it, and get it right. Got the picture.
Protect your assets. But, do it before something happens. Call us at (909) 254-2525.
