Anderson AdvisorsLearn from the best in business, whether you want to protect your existing assets, decrease your tax return or prepare for retirement, our Advisors can help with advice that fits your lifestyle. We can help you keep more of your income, no matter how you earn it.
Anderson AdvisorsLearn from the best in business, whether you want to protect your existing assets, decrease your tax return or prepare for retirement, our Advisors can help with advice that fits your lifestyle. We can help you keep more of your income, no matter how you earn it.
Is There Really Such a Thing as a “Friendly Lien”? Yes, there is! Surprised? If you’re not familiar with this term, it refers to a lien against property you own, held by a party who’s friendly to you. Typically, this “friendly party” is a corporation or an LLC you’ve created in a jurisdiction (such as Nevada or Wyoming) that allows the use of nominees to mask your involvement with the business. This friendly lien discourages potential predators — e.g., creditors — from pursuing the property because of a lack of equity. In other words, the property is encumbered; hence, it’s under an obligation that makes it less attractive. Let’s face it: predatory lawyers consider any lawsuit a numbers game, and their decisions to pursue litigation aren’t just legal decisions; they’re economic scenarios as well. If the numbers don’t “crunch” well, creditors are less likely to want to go after a property; they figure they won’t get enough out of it, in that they’ll have to accept less for a settlement. The friendly lien is one instance in which you may not mind looking LESS attractive! However…there can still be tax pitfalls for the unwary in these situations. Here are just …
Is There Really Such a Thing as a “Friendly Lien”? Yes, there is! Surprised? If you’re not familiar with this term, it refers to a lien against property you own, held by a party who’s friendly to you. Typically, this “friendly party” is a corporation or an LLC you’ve created in a jurisdiction (such as … Continue reading How to Make a Lien “Friendly” and Protect Your Real Estate
