The way you hold title to your properties determines their vulnerability from you, your family and your business.
- Many of us have teenage drivers. The teenagers are often actively texting as they go down the road in the family car. If they have a mishap, who is going to be sued? Sure we are covered by auto insurance, but the limits on the policy will rapidly be exhausted when it is proven that the teenage was at fault. Who is going to have to pay the difference? What can the judge force us to sell to satisfy the judgment? Everything we own will be included as available assets.
- Many of us own rental properties. The tenants are happy with their home, but what if one of them becomes injured at the rental site? Who is the first person they will seek compensation from? Insurance? …. read the fine print.
- Many of us own small businesses. Whatever happens in the business happens to us. Even with an LLC or Sub S company, if we made a decision, took an action that caused a harm to anyone, owned a building that caused a damage to someone, they are coming after us, personally.
MDF Estate Planning Services, Inc. specializes in placing people’s property out of harm’s way in Special Trusts. This keeps them in control of who uses and enjoys the property without being held liable for the property’s liability and not having the property liable for theirs. Estate Planning is not just for planning where your assets will go when you die. It is also for protecting what’s yours now!