Trust Strategy
Have a trust so that properties are not linked. Separate trusts for each
property.
An aggregator is a way of bringing all the properties back together. A
distributor may be a living trust so that assets can be given away without
probate.
The entity that you use to deal with the public is a grantor trust which is
firm for title but transparent for tax, so money goes straight to
beneficiary.
Pete leases his properties to a manager who subleases it to tenants. That
way the manager is responsible for any law suits.
Pension funds are protected against judgments.
Family limited partnerships.
Robert Bluhm is pitching C corps and Family Limited Partnerships as asset
protection. He says that it will do the job for you overnight. If that is
true then it may be worth looking into.
He says Land Trust is useless for maintaining anonymity. Then he's not doing it right. You put the beneficiaries in the
Appendix and don't attach the appendix. Also, you can change the
benes at any time as well as change the trustees.
Irrevocable trust
This means that once the money is in it, it is protected from judgments. However, it is also unavailable to the grantor. These trusts are usually used to set aside money for children.
Hiding assets
I did speak to an attorney (Susan K. at Prepaid Legal) and she advised me that ethically an attorney cannot advise someone how to hide assets.
That seemed strange as if there are legal means to maintain privacy about what you own, which could be called "hiding assets", then why would it be unethical for a legal person to advise a client how to do so.
Maybe what she meant was it would be unethical for an attorney to assist in hiding assets from other attorneys!
