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Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 100036
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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How can one protect property from lawsuits or the irs?

Customer Question

How can one protect property from lawsuits or the irs?
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Ely replied 7 months ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. There is never 100% protection. However, the strongest protection available is to place assets into an irrevocable trust with someone else as a trustee, and one's self as the beneficiary. This provides in most cases the strongest protection of assets which are placed into the trust. However the bad news is that if the trustee is another party, you essentially reply on the professionalism and integrity of that person. I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.
Expert:  Ely replied 7 months ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!

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