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Atricle Dump - An Introduction to Asset Protection
Take advice from someone who has successfully worked from home for the last eight years. In my previous article: Work from Home: Real Money Advantages we looked at some of the money advantages of working from home. In this article we look at some of the differences between working at a job and working from home as an entrepreneur.Many of my clients, business associates and friends run their own businesses. Some of them work from home, as I do. We all have something in common. As we continue and prosper as entrepreneurs we are continually getting more distant between our friends, family and neighbors that have jobs. Don’t know what I mean? Let me explain.Most of the population of any country is what we call in America, “working class”. Which I’m further defining as “working for someone”. In America, those with university degrees, even Master’s degree and some business experience are considered “working class”. People get this confused with “middle-class” which refers to an income level not occupation level. Working class people put in their hours, get their vacation (usually paid), get their sick days (usually paid), get their health insurance and get raises or bonuses almost like clockwork. When they need a job they draft a resume, they send it out, and they interview.So
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset pro
The purpose of any selection process is to discriminate (albeit fairly) among job candidates. Your goal is to select the right people, with the right skills, at the right time for the right position. Have you hired anyone recently? If so, how well did you do? How many of these ten questions can you answer ‘yes’ to? Did YOU: Avoid hiring in a hurry just to get a body on board Know what you really needed – not what looked good on paper? Get the word out to a variety of sources so that the best candidates could apply? Pay attention to the right things during the interview – the required competencies? Prepare for the interviews ahead of time and do your homework about what to look for? Ask focused questions to draw out the candidate’s skills, knowledge and experience? Develop a system to compare candidates so as not to get into legal hot water? Have real proof that the candidate can do the job – get behavioral examples? Make a timely decision and not procrastinate for fear of making a wrong choice? Use both your head and gut in determining the best candidate for the position? Scoring:8-10 ‘yeses’ indicates you’re the tops. Keep up the good work.4 –7 ‘yeses’ is
In 1997, a civil judgment entered against celebrity O.J. Simpson in the amount of roughly $33,500,000 in a civil case brought by the family of his former wife and the family of Ron Goldman following their alleged murders by Mr. Simpson. One might think Mr. Simpson's property would have to be relinquished to satisfy this enormous judgment. Yet Mr. Simpson lives in a lavish Florida mansion, and enjoys a steady pension. Sure, some assets have been seized, but the bulk of Mr. Simpson's property remains out of reach of his creditors. In fact, Mr. Simpson has never declared bankruptcy or taken other action to extinguish the liability.
How is this possible? The answer is that Mr. Simpson arranged his financial affairs in a completely legal manner that left his assets out of the reach of creditors. Florida, his new home state, just so happens to be one of the most advantageous states for asset protection. When asked about his choice of domicile, Mr. Simpson responded in an interview that while he intended to move to Florida anyway, 'an added benefit is some of the laws here in Florida.'
Asset protection planning can be effected in essentially three ways. The first is divestiture, by which an individual transfers his property to another, either by outright transfer or by having liens or mortgages placed upon the asset. This method relies on the simple truth that a creditor cannot have what a debtor does not own. The second way is through exemption planning, where an individual transfers assets to a statutorily protected class of property, such as residential homestead, life insurance, or an IRA. These classes of protected property vary widely by state. The third way is through the use of liability shielding entities such as corporations and LLCs. Hiding one's assets is not part of responsible or effective asset protection planning. First, it may be against the law, and second, it doesn't work well.
Themes in Asset Protection
Several general themes apply in asset protection:
●No asset protection plan can ever give anyone 100% protection from creditors; asset protection planning can only shield most of a person's assets from creditors. Some assets will always be exposed.
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset pro
Finding a money making affiliate program isn’t difficult, as sources for such programs, like Clickbank or Commission Junction, allow you the ability to search specific niches and rank the highest selling products. So, once you have established the niche market that you wish to become involved in, it’s relatively easy to find products that have track records of success to become involved with. This helps to put you on the path to success right off, now it’s up to you to find the qualified buyer and put the product in front of them.One of the first things to keep in mind is that all traffic is not equal. What you are looking for when marketing a product, be it an affiliate product or one of your own creation, you want “targeted traffic,” and not just random clicks on your offer. There are hundreds of ads out there that claim they can “Get Traffic to your Website.” The vast majority of these are offering you clicks on your site and nothing more; they are not offering you traffic that is targeted for your specific niche. Most of these types of visits will land on your page and nearly as quickly be off to another site, without ever looking at your offer. We want visitors who have an interest in your niche before they get to your site, instead of hoping to build interest after they land on your page
In 1997, a civil judgment entered against celebrity O.J. Simpson in the amount of roughly $33,500,000 in a civil case brought by the family of his former wife and the family of Ron Goldman following their alleged murders by Mr. Simpson. One might think Mr. Simpson's property would have to be relinquished to satisfy this enormous judgment. Yet Mr. Simpson lives in a lavish Florida mansion, and enjoys a steady pension. Sure, some assets have been seized, but the bulk of Mr. Simpson's property remains out of reach of his creditors. In fact, Mr. Simpson has never declared bankruptcy or taken other action to extinguish the liability.
How is this possible? The answer is that Mr. Simpson arranged his financial affairs in a completely legal manner that left his assets out of the reach of creditors. Florida, his new home state, just so happens to be one of the most advantageous states for asset protection. When asked about his choice of domicile, Mr. Simpson responded in an interview that while he intended to move to Florida anyway, 'an added benefit is some of the laws here in Florida.'
Asset protection planning can be effected in essentially three ways. The first is divestiture, by which an individual transfers his property to another, either by outright transfer or by having liens or mortgages placed upon the asset. This method relies on the simple truth that a creditor cannot have what a debtor does not own. The second way is through exemption planning, where an individual transfers assets to a statutorily protected class of property, such as residential homestead, life insurance, or an IRA. These classes of protected property vary widely by state. The third way is through the use of liability shielding entities such as corporations and LLCs. Hiding one's assets is not part of responsible or effective asset protection planning. First, it may be against the law, and second, it doesn't work well.
Themes in Asset Protection
Several general themes apply in asset protection:
●No asset protection plan can ever give anyone 100% protection from creditors; asset protection planning can only shield most of a person's assets from creditors. Some assets will always be exposed.
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset pro
What do you think of when I say Coca-Cola, Microsoft, IBM, GE, Intel and Nokia? Well, if you said they are all big companies, you'd be right. But they are also the six top rated global brands as judged in a survey conducted by Business Week earlier this year (2006).Why is a brand important? Obviously, a brand provides recognition. A brand sends a message to the market. The "brand" clearly identifies what can be expected from the company. Wikipedia defines "brand" as "a collection of images and ideas representing an economic producer," or " a symbolic embodiment of all the information connected to a company, product or service. A brand serves to create associations and expectations."What's In A Name?How can a company name such as IBM or GE achieve all this? Obviously a set of letters such as these, on their own, are meaningless. It is the cumulative history and sum of the relationships the company has developed over the years that gives the brand any meaning. A brand creates associations and expectations, not because it is a brand, but because the brand encapsulates the expectations which the company has built in the past and which can reasonably be expected to be continued into the future.There is a lot of confusion when it comes to marketing, advertising and br
Asset protection planning can be effected in essentially three ways. The first is divestiture, by which an individual transfers his property to another, either by outright transfer or by having liens or mortgages placed upon the asset. This method relies on the simple truth that a creditor cannot have what a debtor does not own. The second way is through exemption planning, where an individual transfers assets to a statutorily protected class of property, such as residential homestead, life insurance, or an IRA. These classes of protected property vary widely by state. The third way is through the use of liability shielding entities such as corporations and LLCs. Hiding one's assets is not part of responsible or effective asset protection planning. First, it may be against the law, and second, it doesn't work well.
Themes in Asset Protection
Several general themes apply in asset protection:
●No asset protection plan can ever give anyone 100% protection from creditors; asset protection planning can only shield most of a person's assets from creditors. Some assets will always be exposed.
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset pro
Tracking Before you start your SEO campaign make sure to implement a quality web stats package that lets you know what search engine spiders are visiting your site, what keywords are referring the most traffic to your site, and how many hits/page views you are getting.Build good design To get the best search engine visibility web designers should follow the 5 basis rules if web design which states that web site should be:Easy to read Easy to navigate Easy to find Consistent in design and layout Quick to download Write effective Title tag on the page Arguably the most important ranking factor for effective natural SEO is the title denoted by the - title - tags on HTML. This title is considered primary text by the search engines meaning that all the search engines record this text and place considerable value on it. It is important because it is the first text shown in the search results as a hyperlink to your site. As a general rule a descriptive title should be 5 to 10 words for each page or 69 to 75 characters.Body text On your page you should always aim to have a healthy amount of descriptive body text to explain what the page is about, don't rely on the title of the page. You should aim to have your keyword in the text as much as you
Themes in Asset Protection
Several general themes apply in asset protection:
●No asset protection plan can ever give anyone 100% protection from creditors; asset protection planning can only shield most of a person's assets from creditors. Some assets will always be exposed.
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset pro
Online paid surveys are like online voice boxes for you to air your views and opinions about products and services in the market. You can be totally honest and truthful, and do not have to worry about saying the wrong thing. After all, that is what the product manufacturers and brand name companies want to hear. In real life, people can be overwhelmed when they have to speak to someone on the phone or face to face. Traditional surveys can feel like an interview and the atmosphere can be quite threatening. Thankfully, online paid surveys are nothing like this, allows you to remain anonymous and you can take them at your own time as and when it fits your schedule.Online paid surveys can be interesting. Merchandise owners and manufacturers are always hungry for feedback about their products. Survey takers are privileged to be involved in online paid surveys for pre-product launches. The feeling of being in the know is great and immeasurable. You know when the new lines of famous fashion houses are coming and what they look like, what would be the theme for summer clothing, etc. If you love fashion, you would be trend-setting new boundaries and frontiers. Other product surveys could be on cars, MP3 players, music, etc.Such free internet paid surveys allow you to share your knowledge and what you
● The proper goal of an asset protection plan is to frustrate creditors by altering the creditor's economic analysis of a lawsuit (by making it more expensive and uncertain for the creditor). In other words, the plan itself doesn't give the protection; how the creditor perceives the plan gives the protection.
● Timing is important. An asset protection plan must be put in place well before a creditor or plaintiff emerges. Otherwise, the plan will be exposed as a transparent last-minute effort to thwart creditors.
● An effective asset protection plan can be made even more effective by 'layering' applying different legal protections over the same assets.
● Compartmentalization is an effective asset protection planning tool. For example, an owner of rental properties (rental properties generally carry a high risk of liability) can place each separate rental property in a separate LLC or corporation. If one property results in liability, a creditor will be forced to pursue liability against only one entity, and will not reach either the owner and her other properties.
● A simple asset protection plan is generally more effective than a complex plan.
How Plaintiffs Think
The key to asset protection is to step into the mind of the plaintiff. First of all, the plaintiff can't just go around taking a debtor's property until the underlying dispute is heard in court. Only after winning the suit can the plaintiff proceed to the collection phase of his suit. The plaintiff wants a quick, inexpensive trial. After that, the plaintiff wants a quick, inexpensive, and productive collection phase. Lawsuits are economic events and require economic analysis. Only a foolish plaintiff would pursue a case without some certainty of recovery. Asset protection seeks to deter lawsuits by confounding the certainty of a plaintiff's recovery.
Protecting the Family Home: Homestead and Liens
For most Americans, the most valuable asset they own is their personal residence. The home offers some of the simplest and most effective asset protection planning. The first device is the homestead. A Homestead is, quite simply, a legal device that protects a person's residence (or a portion of it) from creditors. A judgment creditor cannot levy on the homestead portion of a person's residence. The amount of homestead protection differs widely by state. Texas and Florida offer unlimited homestead protection (unlimited in value, but limited by acreage), while Alabama offers a meager $5,000 homestead exemption for single persons and $10,000 for a married couple. In practice, a creditor attempting to levy on an Alabama residence can reach all the equity (after mortgages and liens) except for the homestead protected amount. In the event of a forced sale of the residence, the ousted creditors would receive the homestead exemption in cash. Homestead protection is afforded automatically in most states, but it's always a good idea to file appropriate papers to claim the homestead.
In states with low homestead protection, mortgages and liens provide a very effective means of protecting the personal residence. This process is sometimes referred to as 'equity stripping.' A residence with liens on it is essentially owned by the bank. The home's lienholders have priority over subsequent creditors. Any creditors who levy a home with one or more existing liens take a disadvantaged position behind the lienholders. In the event of a sale, the creditor is less likely to get a recovery. A property owner can lien up his or her own property by increasing the size of an existing mortgage, or by getting a home equity line of credit (HELOC). Most HELOC loan do not require the property owner to ever draw money on the loan, drawing on the HELOC is o
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