Questions tagged [asset-protection]
10 questions
28
votes
5 answers
Can I create an LLC to put my assets into it in case I am personally sued
This is kind of the reverse of what typically people do. Typically an LLC is created to protect the owner's assets if the LLC is sued. I'm looking at it in the reverse order. If I put my money into an LLC and I am personally sued, is that LLC…
Dale
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21
votes
5 answers
Why don't most people file Chapter 7 every 8 years?
Please explain to me why more people don't follow a formula like this:
Converting all their assets into exempted assets (for which there are tons of options, regardless of your state -- ERISA-qualified retirement plans; annuities; life insurance…
SAH
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10
votes
3 answers
Money Market Account
What is a Money Market account and what is its function? How does a money market work and can it protect large amounts of money? I want to protect my money and the FDIC only protect up to $250k. I don't have any knowledge of where to park my money…
user15074
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8
votes
3 answers
When to swap from 50k/100k/50k auto policy to something higher, 100k/300k/50k or more?
In the course of adding myself to my girlfriend's renters insurance, it came to light that I still had 50k/100k/50k liability (50k individual, 100k total over accident, 50k property). This is naturally a hold over from 15 years ago when I was a new…
Glorified Plumber
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7
votes
3 answers
How many assets do you need before you should buy an umbrella insurance policy?
I've heard of umbrella policies before and I've seen some questions about them on the site, but I don't know how many assets you need before an umbrella policy is worth it. Does $50K of assets warrant an umbella policy? $100k? $10k? Does it…
Alex B
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3
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1 answer
Asset protection: When should an individual seriously consider shielding their assets?
I keep hearing people talking about asset protection, and that in any serious business venture you're bound to get sued. Due to limited resources, people are bound to delay their protection strategies until it is too late. My question is, at what…
triforcelink
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3
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3 answers
What is the optimum way to draw money from your retirement nest egg
Let us say I have put away a nest egg like this (all numbers in CAD):
Cash/GIC : 100,000$
Stocks/ETF: 100,000$
Bonds:100,000$
REIT: 50,000
Own rental property : 200,000
Let us say, I wish to retire early with this next egg. What is the optimum…
Victor123
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3
votes
1 answer
Are employee (NOT employer) contributions to a 401(k) ERISA-protected?
Say you work for a business that offers 401(k) plan. Investopedia says:
Under the Employment Retirement Income Security Act of 1974 (ERISA), the funds in your 401(k) only legally belong to you once you withdraw them as income. Until then, they're…
user541686
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0
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1 answer
Update on peer-to-peer lending sites - buyback guarantee and secondary market
I read several questions about peer-to-peer lending that were asked something like 5 years ago.
I just started investing in two sites (A and B from Riga, Latvia). Apparently p2p investing today 2015/16 has changed a bit. Moreover it is interestint…
Richi W
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0
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0 answers
In specie transfer and out of market protection for pension provider changes in the UK
A friend is looking at moving a pension to a new provider. After some research it turns out that an in specie transfer is not available and she could be "out of the market" for anything between a few weeks and a couple of months.
I am not a…
Peter Rhodes
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