Do You Want to Leave an Inheritance to Your Loved One? Do You Have Concerns that it May Not be Managed According to Your Wishes?
Learn How to Protect Your Loved Ones' Inheritances with the Bulletproof Trust™ |
Studies reveal that inherited assets, lottery winnings and personal injury awards slip through the hands of even the most responsible beneficiaries. Inherited assets left outright to your heirs are exposed to a multitude of hazards, including divorce, creditors, lawsuits, and opportunistic friends, relatives and suitors.
The problems multiply with irresponsible children struggling with alcohol, drugs, gambling, or legal problems. Leaving your estate outright to your children is risky and, frankly, unnecessary. Instead, leave your estate to your children in a trust – a Bulletproof Trust.™
The team at The Hughes Law Firm in Denver, Colorado has prepared a FREE guide to help you learn about the basics of the powerful legal tool and how it can protect your loved ones' inheritances. Read on to learn about some of the secrets this free guide reveals, or jump directly to the sign-up form to request your copy today!
Find Out How a Bulletproof Trust Can Protect Your Loved One's Inheritance...
- Joint Tenancy
Keep the family legacy in your bloodline
- Divorce
Assets cannot be given to your child's spouse
- Bloodline
Assets remain in your family, as you see fit
- Lawsuits
Assets are not considered "available" to satisfy a court judgment
- Debt
Assets cannot be claimed by your child's creditors
- Death Tax
With certain exceptions, assets will completely escape Colorado death taxes
- Bad Habits
Assets are insulated from irresponsible or poor decisions made by the beneficiary
- Colorado Medicaid and Medical Expenses
Assets held in trust may enjoy protection from Colorado Medicaid, which is crucial if the beneficiary should ever require long-term care
- Income Tax Savings
When done properly, a Bulletproof Trust can ensure that the beneficiary receives significant income tax savings for life
- Retirement
Trust can act as a safety net when traditional pension plans or social security benefits just aren't enough
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Joint Tenancy Protection
Beneficiaries, when pressured or simply without thinking, all too often put newly-inherited assets into joint tenancy with their spouses without considering how a later death or divorce can impact what the grandchildren get – or don’t get – later on.
To avoid this risk of loss, leave your children’s inheritance in a Bulletproof Trust™ and keep the family legacy in your bloodline. Because assets held in a Bulletproof Trust™ cannot be titled in joint tenancy with your child's spouse or any other person, the transfer of family assets to your heirs is assured at the death of a child.
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Divorce Protection
Assets held in a Bulletproof Trust™ are owned by the trust, not the child; therefore, trust assets cannot be titled in joint tenancy or given to your child's spouse. This prevents' separate property from becoming marital property subject to equitable division by a divorce-court judge.
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Bloodline Protection
Assets held in a Bulletproof Trust™ cannot be willed by your child to his or her spouse. This prevents the diversion of family assets to persons outside the family bloodline. Assets remaining in your child's trust at your child's death will pass automatically to your child's children, or if none, to your other living children or grandchildren.
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Lawsuit Protection
Assets held in a Bulletproof Trust™ cannot be seized or attached by successful plaintiffs in litigation, including accident cases, sexual harassment suits, etc. Since assets held in a Bulletproof Trust™ are not legally owned by the trust beneficiary, they are not "available" to satisfy a court judgment.
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Debt Protection
Assets held in a Bulletproof Trust™ cannot be claimed by your child's creditors. Your child cannot lose what your child does not own. Even if your child was forced to file for personal bankruptcy, assets held in the Bulletproof Trust™ would be sheltered from loss. As an added benefit, your child could not pledge Bulletproof Trust™ assets as collateral for a loan, preventing the inadvertent loss by careless borrowing.
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Death Tax Protection
With certain exceptions, assets held in a Bulletproof Trust™ will totally escape death taxes when your child dies and passes the remaining trust assets to your grandchildren. This is an especially important benefit if you have children who are independently wealthy in their own right.
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Bad Habits Protection
Assets held in a Bulletproof Trust™ are insulated from the spendthrift tendencies of children who are financially irresponsible, over-generous, or prone to taking unreasonable business or investment risks. Children addicted to drugs, alcohol, gambling and other life-style challenges will find difficulty accessing the assets of the Bulletproof Trust™ to sustain their self-destructive behaviors.
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Medicaid and Medical Expense Protection
Assets held in a Bulletproof Trust™ may enjoy protection from Colorado Medicaid. This is important if a child, grandchild or other beneficiary is disabled, handicapped or suffering from a chronic disease that requires care in a nursing home or other long-term care facility. With new legislation making it more difficult to qualify for Medicaid benefits, asset-protection planning for disabled beneficiaries is more important now than ever.
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Income Tax Savings
The Bulletproof Trust™ can purchase assets for a child such as a residence or business. Because the IRS does not impute income to the child for the use (i.e., rent) of trust-owned property, your heirs will enjoy significant income tax savings for life.
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Retirement
Imagine that your children have not “socked” enough away to provide for their secure retirement. A Bulletproof Trust™ can serve as a safety net that will be there for them when traditional pension plans and/or social security benefits just aren’t enough.
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Protection for Grandchildren and Beyond
Assets held in a Bulletproof Trust™ benefit your grandchildren by preserving assets in the family bloodline against a child's divorce, bad habits, legal problems, death taxes, premature death and debt problems. After a child's death, these same protections can be continued for the benefit of your grandchildren and their children by the continuous operation of the Bulletproof Trust™ for generations to come.
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Who Can Serve as a Trustee for a Bulletproof Trust™?
Your child can serve as the trustee of his or her own Bulletproof Trust™; however, certain asset-protection benefits may be weakened. You may be wise to name an independent trustee, perhaps a bank or trust company, to act as trustee–especially for any financially irresponsible or unsophisticated children. Responsible children can decide who serves as their own independent trustee. It could even be a best friend.
Clearly, an independent trustee is a key element to maximum asset protection and should be used to make distribution decisions in most every instance. Investment decisions can be entrusted to responsible children who act as co-trustees, relieving an independent trustee of investment responsibilities. Your child could be given the power to replace an unsatisfactory trustee with another individual or trust company at any time. In short, many options exist and should be discussed with your attorney.
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Distributions Permitted as You Deem Appropriate
The Bulletproof Trust™ can be designed to provide either liberal or conservative benefits for your child or children (your call) while keeping outside predators at bay. The trustee will pay funds to your children for their health, education and general welfare, including additional sums for purchasing a new home, starting a business, getting married, hanging a shingle – even retirement!
Only irresponsible children need worry about trustee-imposed restrictions. Honest, self-reliant, hard-working children will be very happy with their Bulletproof Trust™. Don't be surprised if your children, once they understand the wisdom of your planning, design their estate plans for their children around the Bulletproof Trust™ as well.
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Conclusion
The Bulletproof Trust™ is the most powerful asset-protection tool in American law. It compassionately provides for your children and younger generations in a manner that reflects your family values and personal concerns. For decades, wealthy families have successfully bulletproofed family inheritances.
Faced with the reality of a 60% divorce rate, record-setting bankruptcy filings, 24 million new lawsuits a year and a reckless credit-card culture, it is no mystery why prudent parents and grandparents in the Denver, Colorado area – regardless of net worth – are turning to the Bulletproof Trust™ to protect family wealth for generations.
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