Asset Protection & Private Land Trust

Asset Protection is a legal strategy for structuring your assets such as real estate, business, savings, and investments in a way that minimizes their exposure to lawsuits, judgments, & creditors. Professionals such as Physicians, Chiropractors, Dentists, Attorneys, and Business Owners often face a high degree of risk from professional malpractice or business lawsuits. These business lawsuits may include breach of contract cases, IRS tax issues, employment discrimination, medical malpractice, legal malpractice, or partnership disputes among many other liability risks.

Often times, people are the most concerned about real estate interests such as their investment or personal residence. A Private Land Trust is a way of holding your real estate interests. These are few of the benefits that a Private Land Trust offer:
1. Protection against liens & judgments;
2. Privacy to combat identity theft & discourage lawsuits by lowering your risks profile;
3. Easy way of transferring interests (particularly investment properties);
4. Basic estate planning may avoid probate court (better than nothing but not without risk)

Why are these benefits important to you? Protection against liens and judgments are crucial to you because you can still sell your property with a lien or judgment against it if you have a Private Land Trust. Thus, you may want to never pay your creditor because it is simply unaffordable and against your interests. Second, privacy is crucial with the rise of identity theft and you may discourage a lawsuit from ever being filed against you. Paying a litigation attorney is expensive and they will likely bill at $250 per hour and up plus costs. Thus, a lawsuit simply being filed against you may destroy you financially. A Private Land Trust reduces your risk profile because you do not appear as though you own real estate. Therefore, Attorneys love to sue people with real estate because they have something to lose. Third, if you own an LLC, you and your partners may set up a Private Land Trust avoid the necessity of both partners showing up for your real estate closing. Hence, one partner may sign on behalf of the LLC unlike a regular real estate deed. Fourth, a Private Land Trust designates a primary and successor beneficiary. Probate court is expensive and time consuming. Most people have issues upon a death due to the ownership of real estate property(ies). Even a will will not keep you out of probate court. Probate court is a court that determines who is the rightful owner of assets such as real estate when the person has not created a Trust. Thus, with a Private Land Trust, you designate your primary and successor beneficiary. It is not the preferred method of estate planning, but it is better than nothing. For further information on Wills, Trusts, Asset Protection, Powers of Attorney, or Private Land Trust, call Sean Robertson, Esq. at 312 498 6080 or RobertsonLawGroup@gmail.com.

Robertson Law Group, P.C. otherwise previously known as
"Law Office of Sean L. Robertson"
9923 South Ridgeland Avenue
Suite 99
Chicago Ridge, Illinois 60415
Serving Chicago Ridge, Oak Lawn, Palos Heights, Palos Hills, Orland Park, Frankfort, New Lenox, Joliet, Chicago, Will County, Cook County & DuPage County.