Assets Protection Asset protection is more than mere insurance. It is about shielding away your assets from your business risks, law suit, etc. tag:blogger.com,1999:blog-13420838 2006-05-07T12:52:15Z Blogger
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 true Chen Tong 2005-06-18T16:14:00+08:00 2005-09-06T15:56:56Z 2005-06-18T08:30:30Z tag:blogger.com,1999:blog-13420838.post-111908343073821189 Setting Up a Trust Few facts on setting up a Trust: 1. You need a lawyer who is familiar with Trust or Private Wealth Management. He/ she should understand the criteria of an irrevocable trust. 2. The legal fees of setting up a simple Trust can be as low as RM600. Depending on the complexity, the price ranged from RM600 to RM2,000 3. To protect against bankrupcy, in Malaysia, the Trust has to be irrevocable 4. Be false Chen Tong 2005-06-18T16:09:00+08:00 2005-08-17T14:21:31Z 2005-06-18T08:13:15Z tag:blogger.com,1999:blog-13420838.post-111908239533524730 Trust: A Shield For Financial Certainty (2) So you create a Trust to protect your family wealth from creditors and banks. Is this an easy way to cheat banks and creditors? That you can transfer all your assets into a Trust and squander all money you borrowed from banks. It is hardly possible. If the settlor becomes bankrupt within two years after the date of transfer (assets, from settlor to the trustee), the transfer is void. If the false Chen Tong 2005-06-05T14:32:00+08:00 2005-08-17T14:22:20Z 2005-06-05T06:43:59Z tag:blogger.com,1999:blog-13420838.post-111795383994637040 Personal Guarantee "In The Art of the Deal, I had warned readers never to personally guarantee anything. Well, I hadn't follow my own advice. Of the $9.2 billion I owed (in early nineties), I'd personally guaranteed a billion dollars." --Donald J. Trump, page 9 of How to Get Rich.If a person so street smart and rich like Donald Trump could fall into giving personal guarantee, what makes you think that your banks false Chen Tong 2005-06-05T03:48:00+08:00 2005-10-09T13:52:13Z 2005-06-04T19:56:05Z tag:blogger.com,1999:blog-13420838.post-111791496568498706 Trust: A Shield For Family's Financial Certainty If business is what you intend to do one day, then, set up a Trust to shield your family away from your business risks. You will have to do it now because it will be too late when your family needs its protection. You may have heard that Trust is a better alternative for Will. It protects the beneficiary from foolishly spending away huge inheritance. But I guess you have never heard that Trust is false