fbpx

Index page

How to Start Over After Bankruptcy, a Lawsuit, or Messy Divorce

Posted on: March 24, 2017 at 5:08 am, in

The threat of a lawsuit hangs overhead, you were already sued, or a judgment has already been slammed against you. Any money you make now or in the future could go to the person trying to take it from you. Why bother making more money, just to give it away? Many people have been through this situation and the intelligent defendants, whether they won or lost their cases, came out of the other side smarter and better protected. Getting sued is never a good thing, but just like deciding to consistently wear a seatbelt after a fender-bender, you can make a positive change to keep your assets safer with a detailed plan and the right advice from Estate Street Partners and an UltraTrust® irrevocable trust. We can help you protect assets moving forward to leave the messy past behind.
Let’s start with a simple premise and work towards your ultimate goal of pulling yourself up, moving onward and being successful again. The simple premise is this: No one can take what you don’t own. So, going forward, don’t own anything How do you avoid owning anything? Start your new business and put your new home and new car all within the confines and ownership of an UltraTrust®. The UltraTrust® is controlled by a person you can rely on, the trustee, who is watched over by another person you can rely on called a trust protector. With these safeguards in place, the trust will own all of the income and assets and the other party won’t be able to touch it whether they are suing you, divorcing you or trying to include the assets in a bankruptcy estate. The assets are new, not part of the previous mess and you don’t own them. The UltraTrust® can help you start over by keeping your assets separated and segregated from your messy past.
How does the UltraTrust® help if everything is owned and controlled by the trust? You simply work for the business owned by the trust. The trust capitalizes an LLC (we do it all for you) and you work for the LLC, getting paid for your services. The trust can also allow you to use, lease or rent property it holds, such as a house, car or boat. Operating in this manner, the business can grow and the trust can grow, and you can get back to doing what you love to do without any worries of losing your business in the end.
So, let’s see what your life is like after restarting with an UltraTrust® and an LLC. You wake up in the morning and walk down to the kitchen of a new house and eat breakfast. You get into a nice car and drive to work. At work, you are in charge of your business and, at the end of the week, receive payment for your services and maybe a bonus if you think you did particularly well that week. Now let’s look at what this looks like from the perspective of the person trying to take your assets. They see you work for a company, receive an average paycheck, but own nothing. They can’t take your new assets because you don’t own them and any future potential plaintiffs will probably not bother suing you because they don’t see any assets for payment even if they won. You live a normal life without the worry.
Nobody likes to get sued, divorced or claim bankruptcy, but an UltraTrust® will put you in a better position than when you started out your first time. Estate Street Partners can help you put your life back together, start over and have the confidence that you had before your life changing event. You can be rest assured that Estate Street Partners will put your plan together right, make it solid and keep creditors away. Our 31 years of experience will be at your fingertips and help you every step of the way.