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How is asset protection trust properly defined?
An asset protection trust is a trust which holds assets to protect them from creditors. It is used when one wishes to settle with creditors and protect his assets from seizure.
Can a c corporation file for bankruptcy and the owners protect their personal assets even if they signed personal guarantees with some banks?
No, the owners assets WOULD still be subject to seizure from creditors for all debts that were PERSONALLY guaranteed. The only way to protect personal assets would be for the owners themselves to file personal BK.
What happens during an asset seizure?
The government usually steps in to acquire a person's assets in the event of a crime. This is referred to as an asset seizure. Government officials will literally confiscate the belongings of the criminal.
What should be included in a financial plan to protect assets?
A financial plan should include steps to alleviate debt in order to protect assets. The financial plan should also defined assets according to their importance to the company.
How can a man protect assets in a divorce in Indiana?
Once the divorce has commenced it's too late to protect assets. That sort of planning must be done well ahead of time.
Why do you have to prevent injury in seizure patient?
A patient prone to seizures cannot protect themselves. A seizure causes falls. Once the seizure is underway, the patient needs (primarily) the head and airway protected. Seizure patients may also inhale saliva or vomit, which can then impair breathing.
Who needs liability insurance?
Anyone who has a job and assets to protect.
What is the best way to protect assets from creditors?
Move to Texas and put your money into exempt assets; e.g., a homestead, retirement assets, life insurance, annuities . . . .
The main role of the public relations staff is to foster and protect a company's what assets?
the main role of the public relations staff is to foster and protect a company,s blank assets
How long do you have to be separated before your spouse can't get your assets?
Separation does not protect assets. In order to protect your assets you must obtain a divorce. The court will divide the marital assets at that time and each party will be free from the claims of the other from that time on. However, if you continue to put the divorce off, any assets you continue to acquire will be vulnerable to division. Also, if you die while still married, your spouse will inherit your assets.
How can you protect financial assets from attachment by nursing homes?
One way to protect financial assets from attachment by nursing homes is by creating a trust fund and transferring assets into it. This can help shield the assets from being considered for payment towards nursing home expenses. Consulting with a financial planner or an attorney who specializes in elder law can provide more personalized advice on how to protect assets.
Can a director give a personal guarantee for a loan?
He can but should not. A personal guarantee defeats any corporate shield against seizure of personal assets.
