If I somehow should find myself in the middle of a nasty lawsuit, forced to appear on the stand, placed under oath and asked the question:
"Do you posses any rights of ownership, or are you a member, owner, or beneficiary of an LLC, trust, or any other entity regarding the properties listed in this lawsuit?"
Personal Property held within a Properly Structured Trust are no chargeable in a court of law.
I am not an Atty nor am I playing one here on the WWW.
Should you face interrogatories regarding a Lawsuit involving REAL Property it would not be lying under oath to say NO should you be asked ARE YOU THE OWNER of 123 Main St Trust Property.
The TRUSTEE IS the Owner...Holding Beneficial Interst is much liken to being NAMED IN A WILL.
I do not believe Any Court has power to divest you of your Beneficial interest ...until you actually receive it.
Once Again you must have the trust drawn up properly as well as the Trust Beneficiary agreement to defeat attempts to burst the shell of the trust to take away your interest.
What exactly are you afraid of or fearing most about the Trust or having to go before a court to deny your ownership???
Talk with an ATTY familiar with Trust and tell her/him what your plans are and what you need to avoid/look out for?
About $500- $650 with all the bells & Whistles.
Maybe a friendly Atty can do it cheaper??? But remember --- you Get exactly What you Pay for....so be a smart shopper not Money & Time loser!
Hope this Helps!
Derrick Ali :-D
If I somehow should find myself in the middle of a nasty lawsuit, forced to appear on the stand, placed under oath and asked the question:
"Do you posses any rights of ownership, or are you a member, owner, or beneficiary of an LLC, trust, or any other entity regarding the properties listed in this lawsuit?"
should I ring the bells or blow the whistles?
Larry
Larry:
Personal Property held within a Properly Structured Trust are no chargeable in a court of law.
I am not an Atty nor am I playing one here on the WWW.
Should you face interrogatories regarding a Lawsuit involving REAL Property it would not be lying under oath to say NO should you be asked ARE YOU THE OWNER of 123 Main St Trust Property.
The TRUSTEE IS the Owner...Holding Beneficial Interst is much liken to being NAMED IN A WILL.
I do not believe Any Court has power to divest you of your Beneficial interest ...until you actually receive it.
Once Again you must have the trust drawn up properly as well as the Trust Beneficiary agreement to defeat attempts to burst the shell of the trust to take away your interest.
What exactly are you afraid of or fearing most about the Trust or having to go before a court to deny your ownership???
Talk with an ATTY familiar with Trust and tell her/him what your plans are and what you need to avoid/look out for?
I hope this helps!
Happy Investing!
Derrick Ali :-D