Closing the Barn Door Too Late…

Asset Protection
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Have you heard the phrase “closing the barn door after the horse has already left”?

Current economic conditions have people scrambling to put asset protection strategies in place.

They may be attempting to close the barn door too late…

Fraudulent transfer laws are in place which typically have a four year statute of limitations or thereabouts.  They KNOW that people in trouble will try to “hide” their assets and they want to make it hard to do so.

These laws have mechanisms in place to reverse or set aside any transfer or conversion that was made within the statutory period.   These laws will nullify transactions that are meant to put assets out of the reach of creditors

If you wait until you are concerned about a claim on your assets, your interest in asset protection is simply too late.  The horse has left the barn already.

I hope your horse is still in the barn…

In that case, it makes sense to educate yourself about asset protection AND CLOSE THAT BARN DOOR.. .

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9 Comments

9 Comments

  1. Lynn LaneNo Gravatar (57 comments)  •  Sep 26, 2009 @9:42 am

    Rob,
    You make a great point. Seems the government is not going to be business friendly in the near future.
    Lynn Lane

    Success Strategies For Life

    Reply

  2. John HoNo Gravatar (86 comments)  •  Sep 26, 2009 @9:42 am

    Rob,

    You remind me of the “JIT” (Just In Time) management strategy.

    We’re not working for the tax department (IRS in US, ATO in Australia) but ourselves.

    John Ho
    Numerology Expert Helps Understanding Personality for Better Influence & Persuasion

    Reply

  3. Steve ChambersNo Gravatar (103 comments)  •  Sep 26, 2009 @10:22 am

    It’s tough to sell safety, and that is exactly what asset protection is, safety for what we’ve managed to build with our lives. This is too important to delay implementing.

    Steve Chambers
    Business to Business Sales Trainer

    Reply

  4. Robert MartinNo Gravatar (7 comments)  •  Sep 26, 2009 @12:24 pm

    your posts have opened my eyes. Keep coming with the information. I will be sure to learn from you so I can keep my barn door closed.

    Robert Martin
    http://www.carbuyinghq.com

    Reply

  5. Las Vegas Baby Boomer Dating ExpertNo Gravatar (7 comments)  •  Sep 26, 2009 @4:37 pm

    Hi Rob,

    mooo! neigh! excellent points indeed about doing preventative protection in advance of needing… not when it is already too late.

    Happy Dating and Relationships,

    April Braswell

    Single Baby Boomer Dating Success Expert

    Reply

  6. Darryl PaceNo Gravatar (66 comments)  •  Sep 27, 2009 @12:32 am

    How true! Everyone that has a corporation should cover their assets!

    Health, Fitness for Working People — Darryl Pace

    Reply

  7. Keri EaganNo Gravatar (9 comments)  •  Sep 27, 2009 @5:22 am

    Too true Rob. I watched a report that showed one guy’s business was booming in the recession. All his company did was contract to lenders to clean out houses after they were taken by the lender. The report showed house after house full with furniture etc. They had obviously waited (in denial?) for the last possible moment to leave. Very sad indeed. SB owners would do well to learn from this and take action before it is too late.

    Keri Eagan
    Anything Alternative

    Reply

  8. Anthony LemmeNo Gravatar (41 comments)  •  Oct 2, 2009 @9:59 pm

    So true as usual. You should be in office…lol!

    Anthony
    http://www.anthonylemme.com

    Reply

  9. michael charbonneauNo Gravatar (3 comments)  •  May 6, 2010 @12:04 am

    Good advice – I didn’t know the courst could go back in time for this kind of stuff.

    People should take your advice for the unanticipated events.

    Michael
    http://datingguruhq.com

    Reply

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