Suicide Asset Protection

Date : 01-Feb-2007

Dear Subscriber:

I was reviewing my assetprotctioncorp.com site and a regular poster on my bulletin board asked me what a “good” Asset Protection Plan is.

Here is what I wrote:

In all cases, it should:

- Be tax neutral,
- Be based on an assumption that there is full disclosure (assume the bad guys get all docs),
- Allow you to always tell the truth,
- Never expose you to risk of theft,
- Have the blessing of your lawyer and CPA (who won't know much about Asset Protection, but they will sense if you are being sold a bill of goods), and
- It should be simple and elegant and pass all the smell tests.

I reread this and believe that that these guidelines provide a solid foundation for not just this reader’s plan, but for every plan. I often speak of personalized plans, but plans should all begin in the same place. They should also end in the same place. They begin on the principles above, and they end with the finished product: assets that are protected from all creditors and courts.

In most cases, the planning incorporates time-tested technology using a Kinetic Asset Protection Trust, which triggers the first rule of Asset Protection: “What you don’t own can’t be taken from you.”

Never rush into anything, and never trust anybody, especially if your only contact with him or her is through the Internet. You will never hear John or I asking anybody to “trust” us. On the contrary, we always insist on the involvement of your local advisors and in keeping you in control of your assets and your future.

THE SUICIDE PLAN

The Suicide Plan is the plan built on the house of cards; all it takes is the removal of one card and the whole plan falls. If you are in real trouble and your goal is to hide your assets regardless of whether it meets the characteristics of a “good plan,” you have already taken the leap. This leap is off a cliff (without a parachute). The sad thing is that the Suicide Asset Protection Plan is not good, wise or necessary if you prepare and do the planning before the world falls in around you. Suicide asset protection is never worth it.

Now, that is about as smart as I can be this week.

In the past, I always gave my readers a bit of information on my other passion: Kelli (for my new readers, she is my wife). Well, finally, she has released some of her new music, and is hitting the road. I encourage you to go to www.kelli.com and get a free copy of On the Big Black Bus. For new readers, this will be like a surprise; and for old readers, this will be like old home week. Don't forget to check out her blog also at www.onthebigblackbus.com .

Always pursue your dreams and protect your assets. Do both and you will be safe and happy. This is my wish for you.

Have a healthy and protected week.

Rob Lambert

ABOUT THIS EDITOR:

Rob Lambert, Founder and former law professor is considered to be foremost expert on tax compliant asset protection structures. A contributing editor to Lexus Nexus debtor creditors series of law books Rob's passion is implement client wealth plans that stand the test of time and hold up under duress.

Full Bio - Email Rob