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Protect Your Real Estate Property from the Reach of Creditors

People often think that estate planning only involves leaving money and houses for your children when you die. You must also understand that protecting your estate from creditors is also part of estate planning. Although it is a very challenging process to go through, it is worth it. Since your real estate asset cannot be moved, unlike bonds, cash, and stocks.
By now, you may begin to ask yourself, how can I effectively protect my real estate from creditors? The answer to this question is in this article. We will be discussing some useful tips on how to ensure your real estate is safe from creditors in this article. Let’s explore more.
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Pass it Down to the Coming Generation

One of the most effective ways of protecting your estate from creditors is to transfer it to the coming generation or your family member. This is usually done out of trust. By doing this, you have successfully placed your real estate asset out of the reach of creditors.
However, the major downside of this strategy is that you won’t have any say on the property again. It’s safe to say you will lose total control of your own property. Also, transferring your real estate to your children or family members makes it subject to their claims.
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Avoid Fraudulent Conveyance Laws

Fraudulent conveyance laws can come into play and will definitely affect you. These laws can end up voiding the transfer of fraudulent funds. In the process, your future creditor will be able to attach your assets even if you don’t have any contact with the creditor during the time of the transfer. To be on the safer side, you must seek legal backing. We recommend that you work with the Law Offices of R.Grace Rodriguez. Our quality legal services will ensure that you get the best outcome in the end.

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Change the Ownership Level

The best strategy you can apply to prevent creditors from taking your property is to transfer the asset to a partnership or LLC structure. Once the asset is registered as a business asset, it becomes difficult for creditors to collect it.
This is one of the best ways to secure your asset. This is because court proceedings prevent creditors from touching business properties. When the estate owner distributes his property within his business portfolio and not a personal one, the creditor will not have any access to it.
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Start Planning your Estate Early

You shouldn’t make the mistake of not planning your estate. In fact, it is one of the smartest moves if you want to shield your property from creditors. You don’t need to be extremely rich before you can do an estate plan. You should put a proper plan in place the moment you start acquiring assets.
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Start Planning your Estate Early

You shouldn’t make the mistake of not planning your estate. In fact, it is one of the smartest moves if you want to shield your property from creditors. You don’t need to be extremely rich before you can do an estate plan. You should put a proper plan in place the moment you start acquiring assets.

Work With the Law Offices of R.Grace Rodriguez and Secure Your Real Estate From Creditors

With the right guidance, you can secure your entire real property with ease. At the Law Offices of R. Grace Rodriguez, we are very passionate about asset and real estate protection. Work with us, and let’s shield you from the reach of creditors and give you the joy of being a permanent homeowner.

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