Things you MUST know about WILLS and TRUSTS. http://ow.ly/3vOQo
Since many or all of your debts will be eliminated you become a lower risk to creditors as you no longer have old obligations!!!
You owe money but cannot pay? You tried negotiating with credit card companies and other creditors and offered debt settlements to no avail? The legal system tries to be fair to you and those who gave you the loans in good faith. This blog discusses the facts and myths around bankruptcy law in California, the differences between Chapter 7 and Chapter 13, and the requirements that must be met to declare bankruptcy, such as credit counseling, document verification, tax returns, schedules and means tests.
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If you have any significant amount of money you will likely be sued. About 24 million lawsuits are filed in the Unites States every year! You are more likely to be sued than to have a stay in the hospital. Typically, a homeowner’s insurance covers up to $1M; an auto accident insurance policy covers far less and must be purchased separately. If the judgment against you is greater than the amount of insurance, the other party can go after your other assets and garnish wages. You may lose your home and other investments. With the high cost of health care and rehabilitation, the liability insurance will not last long. Irrevocable trusts, Off-shore trusts, Family Limited Partnerships, Qualified Personal Residence Trusts, Spendthrift Trusts, when set up legally, protect your assets.
Contact me to protect your assets at (408) 293-0880 or visit my Web site to learn more about the services I provide for asset protection.
When needing to modify your mortgage, please contact me. I have helped people successfully navigate the complexities of the law and their finance company.