Protecting Your Vehicles and Checking Account from Personal Judgements | Personal Asset Protection

In this video I'm going to discuss how to protect assets other than real estate.

Protecting your personal assets means protecting yourself from deranged individuals who go on to the DMV and transfer title over to themselves. This is an actual story that happened years ago to one of our legal secretaries.

In order to gain protection, you have to get the asset out of your name. In addition, the best tool to utilize for this type of protection is what I refer to as a personal property trust. Watch this video as I show you step by step how to achieve this specific type of asset protection.

What you need to know about how protect your personal assets are covered in this video.

Questions or requests for a video topic are always welcome!
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#assetprotection

[albertmcknight]

Interesting video I like these type of videos keep them coming

[paulmulryan]

You have some awesome content, glad I discovered your channel. I have a question about asset protection. about 10 years ago I was researching commercial law (UCC specifically) and started deep diving into filing UCC 1 and UCC 3 statements, which as you probably know is a superior lean (UCC1) and a amendment or assignment (UCC3)
If I created Two LLCs (Wyoming) one was to conduct business through and create other disregarded LLCs for other ventures real estate etc, named Alpha The other to serve as a holding company but actually created via a separate Wyoming LLC. named Omega.
If I wanted a second layer of protection for all my assets in Alpha would the following scenario work well: Alpha receives a loan from Omega. Omega and Alpha create and sign a security agreement which places all of Alphas property, company autos etc as collateral and creates a UCC 1 to pair with the Security Agreement. Both Security Agreement and UCC are fully executed and recorded with the proper county recorder (UCC dept) and or Secretary of State. With the UCC 1 registered as a superior lean against this property would that keep even judgments etc from acquiring that property?

[midnite]

Hi,
Very informative videos!!!
I wanted to know if a living revocable trust would provide anonymity,
not asset protection but privacy.
If a person just kept a bank account in a Living trust,
could any current or future creditors find out about it?
THANK YOU!!!

[SportsActionNetwork]

Great video Clint but how insurance companies view this type trust once you make the switch as a business? Will your insurance rates go up?

[dreamcometrue]

This is great info!💯 Would a PPT be the wise way to take title to a property that I acquire Subject To, but plan to live in? Or should I use a Land Trust?

[adibc]

Very educational, thanks! Could you take it a step further & insulate your assets further by creating a WY LLC & holding the trusts within?
Would that further protect & insulate assets? Would you consider that bulletproof or are there loopholes in that scenario as well for the determined creditor to exploit?
Lastly, are assets held in a Revocable Living Trust protected the same as they would be in a Personal Property Trust?
Thanks!

[headlibrarian]

What about insurance? Business or non-owned insurance on a car is expensive and of limited utility. I'm not sure if that type of insurance is compatible with personal umbrella policies. Also, will lenders or leasing companies play ball and title your car in the name of a trust, or are you stuck only buying cars for cash? Then there's the dealer themselves, who usually title the cars when you buy it from them. They may not want to play ball either.

[deadcell]

Will a PPT be ideal for someone who owns equities such as stocks, bonds, and crypto? If so, what asset protection strategies could I apply in conjunction with the PPT?

[jamesdalton]

Ive delt with a crazy person thief on vehicle titles before. Here's another idea i found out about through DMV headquarters Ca. A manager told me to put a Lien Holder added to the title. Someone you trust, a family member, etc.

[hakanwall]

Can a Trust hold a auto insurance? In Nevada from what I understand the name on the cars title has to be same as the name on the in the insurance Policy. So if I have a LCC as a benefit holder of the trust, do I then need a business Auto insurance? And have the trust as one of the insured parties? Hope I make sense, in short have you heard of insurance issues showing up if you put a car in one of these trusts? Thank you for your input.

[midnite]

Can you recommend a book or course on how to form an
irrevocable trust?

[joeyroganoffical]

Would it be better to protect personal assets by putting them into a Wyoming LLC or this method mentioned in the video?

[XavierIsraelMatamoros]

Clint, as always thanks for the informative contect, but I’m confused. Let me see if I get this straight: I place personal assets into a Trust, not an LLC because there is no business purpose and that would defeat the asset protection purpose of the LLC? OTOH, I put my taxable brokerage account into an LLC, because the business purpose is investments, even though they are personal to me? Also, for the personal assets, such as cars, checking/savings accounts, the trustee should be a Wyoming LLC if my objective is anonymity?

[parclan]

What could be done to protect personal assets (cash/invested funds/bonds) from claims brought through a construction payment and performance bond claim?

[nguye]

Awesome advice. Thanks Clint. For a 22-year-old guy with car and saving only, how to go about setting up a PPT in an inexpensive way? and if PPT is only notarized, but not recorded, how could bank or DMV be willing to change the ownership to PPT since it doesn't have SSN nor EIN? thanks

[ionsochirca]

Love this video. Wonder if you could also write a lien against the property ( Strip away equity) for insurance in case the creditor is really persistent?

[HMMarkII]

Hello Clint!!!! I love the content!!! Please keep it Coming!! Would it be okay for my corporation to own my WY LLC? And have the rental properties under the WY LLC? Thank You

[BiffBifford]

I have the original Land Patents on my property in California. What are they, and what do they mean? What are they good for? I sure would appreciate your expertise on Land Patents answering the questions above. From what I understand, they are just historical references from another time and another era. By the way, I really enjoy your videos!

[judahmaccabee]

Clint, if you are the trustee and the beneficiary is a irrevocable trust PPT would that prevent direct ownership, especially when the beneficiary are your family members in the irrevocable ppt trust?

[johnb]

Hello,
For California resident Personal trust is better or Land trust?