Tiger of the Woods family shows how one can place a home into a trust, and thereby protect the home from being taken in a lawsuit and possibly other benefits. His ex-girlfriend is now suing the trust — not him — claiming the she and Tiger had an oral tenancy agreement to allow he to live within the mansion — owned by the trust.
Herman, 38, claims Woods, 47, tricked her into leaving the home they lived in together for six years following their breakup in October — alleging that she still had five years left to stay due to an oral agreement she had with his trust, Jupiter Island Irrevocable Homestead. (source)
As one moves away from the trap of the LLC and ‘Incorporation’, it may be a good option to place all thy assets into a trust. The LLC and Inc. may provide liability protection within their mer-chant virtual sea-side fairground, but the LLC and Inc. also may make one liable for the corporate franchise/excise tax. The non-tax alternative may be to create a trading company and place ones assets into a trust. Like Tiger.
Some say one must create the trust as man, not as person. Meaning, the man must create the trust. If the man uses the person to create the trust, then the assets in the trust may still be in com-mer-cial virtual seaside fairground.
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