Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: scripter
The two most important documents to save your assets are 1.) Living Trust and 2.) 'Family' Limited Partnership.

If you will do a search on the FLP, it is an airtight way to keep anyone from seizing your property in a legal judgment. Odds are 1 in 3 you will be sued, if you are wealthy enough to own $50,000 in assets, and especially if you own a business. Small business owners are expected to be sued 5 times, on the average.

I have personally used this method, and when I was sued, the plaintiff dropped the case, because I had "no assets".

11 posted on 11/21/2002 9:16:01 AM PST by TommyDale
[ Post Reply | Private Reply | To 1 | View Replies ]


To: TommyDale
The two most important documents to save your assets are 1.) Living Trust and 2.) 'Family' Limited Partnership.

I have never heard of the FLP, thank you. We'll probably get a living trust early next year after the adoption of our sons is final (Dec 11).

13 posted on 11/21/2002 9:27:01 AM PST by scripter
[ Post Reply | Private Reply | To 11 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson