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Now That Real Estate Is Going To Pieces

By Rob Lambert - Email Editor

Date: Sep 06 - 2007

Dear Subscriber:

Boy, the phones have lit up.

More and more people are seeing the writing on the wall. Their real estate, which they bought with the expectation that it would increase in value and be salable, is neither increasing in value or salable.

In fact, prices are going down. Their pride and joy is not salable in many locations in any reasonable time.

In short, many people are finding that their real estate investments are coming back to bite them. What do you do when this happens?

The unfortunate answer in many cases is nothing. It is often too late. If you have waited until your net worth has gone negative, and you have no reasonable shot at intelligent Asset Protection, you have few options. Many people find themselves in this position. They have little they can do, but deal with their insomnia, the probable divorce, and their loss of self-worth and faith. These folks waited till the sky fell…. and it is falling.

There are some of you out there who are facing this problem but are not in critical condition yet. If you are one of these people, I urge you to read the writing on the wall and start taking the steps to get out of the way of this pending avalanche.

Getting out of the way of the pending avalanche is pretty easy if you have an old and cold Asset Protection Plan. A person with a strong plan is like the pig with the brick house. He is hard to get to, and he has protection in place. In most cases he can go to Red Alert Status and emerge from the other side of the inevitable attacks intact. This is a good reason to never put Asset Protection off.

The person without Asset Protection Planning in place has a much harder burden. What options are available? This is often a tough question, and one which takes a lot of skill and experience to evaluate. Again, often the answers are none. HOWEVER, there are often a number of steps even the unprotected person can consider if he sees the onslaught coming.

Remember, there are often a number of actions that can be taken when troubles loom, even when the real estate appears upside down. In some cases, traditional Asset Protection (often involving trusts) may be appropriate especially if the payments are current on the troubled real estate. If traditional Asset Protection is not appropriate, there are many other avenues which are nevertheless available to the person facing down a potential financial meltdown. These can be as simple as ERISA planning (a la O.J. Simpson) or annuity/insurance planning, which can sometimes protect assets even if storm clouds are brewing. In all events, please do not ignore the protection that the normally simple homestead laws of your state may provide (you often have to take steps to preserve this protection).

It is not an easy or do-it-yourself task to determine what can be done when the financial skies are dark. Do not do this yourself; but, for heavens sake, get with a pro and take a look at your options if things are going to pieces. Call us if you need our help. We are pleased to give you our thoughts and do not charge for the initial consultation.

You will be surprised at the options which are often available.

Have a healthy and protected week, and see you in Las Vegas. Click here to attend .

Best,

Rob Lambert

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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