Oct
30
Asset Protection In Relation To Medicaid And Bankruptcy
Filed Under Wealth Creation | Comments Off
Susan Chen
Asset Protection And Medicaid
Advocating the proper asset protection measure is of crucial importance. The asset protection from Medicaid is to be especially mentioned in this regard. The Medicaid is the health insurance system run by the state for people with low income and limited assets. Planning ahead can offer asset protection from Medicaid to a great extent.
The asset protection from Medicaid planning option will depend on whether the basic documents were in place before the person (asset owner) in question became incompetent. It is better if there were properly drafted powers of attorney and/or trusts set up beforehand in this regard.
An important point to remember in regards to asset protection with Medicaid is that certain assets are considered to be exempt. Ownership of a licensed motor vehicle is one such exempt item. The home is also usually considered to be an exempt asset. So, normally a home asset protection from Medicare shield is available as per legal provisions.
Asset Protection And Bankruptcy
Just as there is asset protection from Medicaid, similarly there is also the consideration of bankruptcy and asset protection issue. It is a fact that bankruptcy can actually protect your asset in many ways. In a Chapter 7 liquidation case it is the norm for creditors to take all non-exempt assets for the creditors’ benefit, yet, at times the non-exempt assets can actually be converted into exempt ones before filing. There may be variation in the rules between states in this regard and also between judges of the same state. So, as regards bankruptcy and asset protection it is better to consult a local attorney to clear all doubts and get to learn all possibilities and safeguards to be taken in advance.
A judgment creditor may obtain a lien on a property. Yet, if that lien impairs any exemption to which the debtor is entitled under the Bankruptcy Code then the lien can be simply avoided. Thus, the lien holder cannot seize the property in question and satisfy the debts.
It should be noted regarding bankruptcy and asset protection that some states have homestead laws offering protection from subsequent creditors. So, a bankruptcy filing in such a state even on the day just before the bankruptcy will allow usage of the state homestead exemption for obtaining state homestead exemption against all creditors.
Again, in case of Chapter 13 bankruptcy, bankruptcy and asset protection plans advocated can allow paying off of arrears on mortgage or car loan or some other loan taken. This will thus help to avoid foreclosure or repossession.
Asset Protection And Medicaid
Advocating the proper asset protection measure is of crucial importance. The asset protection from Medicaid is to be especially mentioned in this regard. The Medicaid is the health insurance system run by the state for people with low income and limited assets. Planning ahead can offer asset protection from Medicaid to a great extent.
The asset protection from Medicaid planning option will depend on whether the basic documents were in place before the person (asset owner) in question became incompetent. It is better if there were properly drafted powers of attorney and/or trusts set up beforehand in this regard.
An important point to remember in regards to asset protection with Medicaid is that certain assets are considered to be exempt. Ownership of a licensed motor vehicle is one such exempt item. The home is also usually considered to be an exempt asset. So, normally a home asset protection from Medicare shield is available as per legal provisions.
Asset Protection And Bankruptcy
Just as there is asset protection from Medicaid, similarly there is also the consideration of bankruptcy and asset protection issue. It is a fact that bankruptcy can actually protect your asset in many ways. In a Chapter 7 liquidation case it is the norm for creditors to take all non-exempt assets for the creditors’ benefit, yet, at times the non-exempt assets can actually be converted into exempt ones before filing. There may be variation in the rules between states in this regard and also between judges of the same state. So, as regards bankruptcy and asset protection it is better to consult a local attorney to clear all doubts and get to learn all possibilities and safeguards to be taken in advance.
A judgment creditor may obtain a lien on a property. Yet, if that lien impairs any exemption to which the debtor is entitled under the Bankruptcy Code then the lien can be simply avoided. Thus, the lien holder cannot seize the property in question and satisfy the debts.
It should be noted regarding bankruptcy and asset protection that some states have homestead laws offering protection from subsequent creditors. So, a bankruptcy filing in such a state even on the day just before the bankruptcy will allow usage of the state homestead exemption for obtaining state homestead exemption against all creditors.
Again, in case of Chapter 13 bankruptcy, bankruptcy and asset protection plans advocated can allow paying off of arrears on mortgage or car loan or some other loan taken. This will thus help to avoid foreclosure or repossession.
Oct
26
Can a credit card company get a judgement against you and take the funds from your business account?
Filed Under Wealth Creation | 5 Comments
rlacy916
I would like to know about collection laws in California. If my girlfriend had a dispute with a credit card company and didn’t pay the $5000.00 balance, can they get a judgement against her and take that money out of our business account?
I would like to know about collection laws in California. If my girlfriend had a dispute with a credit card company and didn’t pay the $5000.00 balance, can they get a judgement against her and take that money out of our business account?
Can they take the money out of a trust if she is the beneficiary?
We need asset protection advice!
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Oct
24
Eyes On The Right Wealth Creation Prize
Filed Under Wealth Creation | Comments Off
Sean Rasmussen
Successful wealth creating depends on a balance between mindset and financial strategy. Understanding and accepting this determines the success of an individual’s efforts at wealth creation; to determine whether you have the right mindset to succeed and create wealth, take this simple test, devised by Jamie McIntyre of the 21st Century Academy:
- Suppose you were given a choice between being given $1 million dollars, and being given a wealth creation education. Which would you choose?
It seems fairly obvious that the majority of people would instantly choose the $1 million in cold, hard cash. And that majority would also think that all their financial problems were solved. Really, you could do a lot with a cool, easy million.
Would A Million Dollars Really Solve Your Financial Problems?
Honestly, you could do a lot with a million dollars. If you knew what to do with it to make that million last a lifetime. But really, how long does a million dollars last these days? How many years would it take you to spend a million dollars, assuming no investments and no change to your current lifestyle, if you were given a million dollars cash free and clear? How much of that million would go right to paying off your debt? How much would you be left with?
Even if you took that million dollars and did nothing but pay the bills you have, you’d be out of money in a matter of years; long before the end of your life. Chances are you’d even find yourself worse off in the end than you are today.
Sound unrealistic? Consider this
- A study of Australian lottery winners showed that of those who win a million dollars, most are worse off in a period of three to seven years.
Why? Because they have nothing but a lifetime of financial reaction to guide them. They have no money skills, and no mindset to guide their efforts at spending and investing, no commitment to financial success!
Now, given a wealth creation education, people are far more likely to succeed. Had that million dollars been paired with the knowledge and mindset to succeed financially, that money could have been invested and turned into more money, money virtually out of thin air!
The point of this exercise is to show that the solution to financial struggle is not money in and of itself. The solution to financial struggle is an effective financial education, a wealth creation education.
What Is A Wealth Creation Education
A wealth creation education consists of two parts.
1. Lessons in developing the mindset for financial success
2. Lessons in financial strategy, how to make money work to make more money
Together, these two parts make up 100% of the whole necessary to achieve financial freedom for life.
To go back to the original exercise, let’s suppose that this education were chosen over the million dollars. What then?
In that instance (assuming a true commitment to wealth creation), the outcome is far different. Even starting with seemingly nothing, the individual learns to create wealth by utilizing the various money systems and financial strategies of the world. In three to seven years, the wealth creation student is retired (or working only because he or she wants to). In three to seven years, when the lottery winner is struggling more than ever financially, the wealth creation student is letting his/her money work for him, rather than the forcing himself to work for more and more money.
The Wealth Creation Prize
Faced with these realities, it becomes obvious that the real wealth creation prize is the wealth creation education. With a wealth creation education, the possibilities are limitless, and wealth continues to build.
Money comes and goes, as the wealth creation student understands; where one income stream ends, another can surely begin; and while a million dollars can only get you so far, a million and a wealth creation education can take you on for life.
Successful wealth creating depends on a balance between mindset and financial strategy. Understanding and accepting this determines the success of an individual’s efforts at wealth creation; to determine whether you have the right mindset to succeed and create wealth, take this simple test, devised by Jamie McIntyre of the 21st Century Academy:
- Suppose you were given a choice between being given $1 million dollars, and being given a wealth creation education. Which would you choose?
It seems fairly obvious that the majority of people would instantly choose the $1 million in cold, hard cash. And that majority would also think that all their financial problems were solved. Really, you could do a lot with a cool, easy million.
Would A Million Dollars Really Solve Your Financial Problems?
Honestly, you could do a lot with a million dollars. If you knew what to do with it to make that million last a lifetime. But really, how long does a million dollars last these days? How many years would it take you to spend a million dollars, assuming no investments and no change to your current lifestyle, if you were given a million dollars cash free and clear? How much of that million would go right to paying off your debt? How much would you be left with?
Even if you took that million dollars and did nothing but pay the bills you have, you’d be out of money in a matter of years; long before the end of your life. Chances are you’d even find yourself worse off in the end than you are today.
Sound unrealistic? Consider this
- A study of Australian lottery winners showed that of those who win a million dollars, most are worse off in a period of three to seven years.
Why? Because they have nothing but a lifetime of financial reaction to guide them. They have no money skills, and no mindset to guide their efforts at spending and investing, no commitment to financial success!
Now, given a wealth creation education, people are far more likely to succeed. Had that million dollars been paired with the knowledge and mindset to succeed financially, that money could have been invested and turned into more money, money virtually out of thin air!
The point of this exercise is to show that the solution to financial struggle is not money in and of itself. The solution to financial struggle is an effective financial education, a wealth creation education.
What Is A Wealth Creation Education
A wealth creation education consists of two parts.
1. Lessons in developing the mindset for financial success
2. Lessons in financial strategy, how to make money work to make more money
Together, these two parts make up 100% of the whole necessary to achieve financial freedom for life.
To go back to the original exercise, let’s suppose that this education were chosen over the million dollars. What then?
In that instance (assuming a true commitment to wealth creation), the outcome is far different. Even starting with seemingly nothing, the individual learns to create wealth by utilizing the various money systems and financial strategies of the world. In three to seven years, the wealth creation student is retired (or working only because he or she wants to). In three to seven years, when the lottery winner is struggling more than ever financially, the wealth creation student is letting his/her money work for him, rather than the forcing himself to work for more and more money.
The Wealth Creation Prize
Faced with these realities, it becomes obvious that the real wealth creation prize is the wealth creation education. With a wealth creation education, the possibilities are limitless, and wealth continues to build.
Money comes and goes, as the wealth creation student understands; where one income stream ends, another can surely begin; and while a million dollars can only get you so far, a million and a wealth creation education can take you on for life.
Oct
22
What is the fastest and the most easist way of making money?
Filed Under Wealth Creation | 6 Comments
www.simplytopuk.com
What is the fastest way of making big sum of money the most easist way? Any body know, let me know.
What is the fastest way of making big sum of money the most easist way? Any body know, let me know.
No dodgy information, no online survey or signing up forms. Just pure way of makeing money.
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Oct
11
Asset Protection Plans
Filed Under Wealth Creation | Comments Off
Groshan Fabiola
The redistribution of wealth from the more fortunate to the less fortunate is facilitated by the progressive tax system in the United States. It is also made by the judicial system through litigation, therefore many of entrepreneurs, business owners, retirees and others who have cumulated significant amount of wealth are often financially devastated by the U.S. judicial system. That’s why every wealthy person, even the ones with an average amount of property, need asset protection plans to prevent the risk of claims from the unknown future judgment creditors, particularly the frivolous claims, or even the employment- related claims that cannot be covered by most insurance policies, among many other exceptions to liability insurance coverage.
The best solution is to implement asset protection plans correlated with your estate plan. This way, providing additional assurance for your financial future and the means to make gifts of interests in protective assets to family members, far away from the view of your future creditors and from all of the creditors of your family members, your asset protection plan will intensify your estate plan, because the objective of legitimate offshore asset protection planning is to avoid litigation altogether. To do this, it uses a structure linking the prudent use of professional advice and foreign law. But pay attention for this is not intended to protect dishonest or incompetent persons from creditors. The asset protection plans, among legitimate tax- neutral and investment vehicle are available. Tempting investment vehicles can be represented by international variable life insurance and international variable annuities with reputable companies in secure offshore jurisdictions. Having different commission structures, they are better protected and are not subject to certain U.S. taxes.
It is also good to know that asset protection plans may incorporate the insurance against automobile accidents, which is rarely maintained at the level necessary to cover these kinds of claims. Because of the high level of coverage, it may be prohibitively expensive or even impossible to insure.
Being done with full IRS compliance and disclosure, asset protection planning and proper tax planning do not involve tax evasion or anti-IRS theories. Always keep in mind that high quality asset protection plans come with good advices, formulated on a case-by-case basis. Ignore the cheap asset protection advices posted on the Internet. Asset protection plans are not implicated in hiding money offshore or using offshore credit card accounts.
Asset protection plans provide with excellent solutions to asset protection issues. Being compliant with U.S. laws, variable life insurance policies and variable annuity contracts offer a wider range of investment opportunities at lower costs beside U.S. policies for policies with total aggregate premiums of over $100,000.
Another matter which needs your full attention is in choosing a consultant for asset protection plans. On the Internet you will find many offshore service providers who offer various offshore tax planning and asset protection schemes. You will first have to look for a consultant with extensive tax experience that is able to give you competent and comprehensive U.S. tax advice.
Asset protection plans are complex and challenging tasks in today’s environment, and need to be properly designed and implemented. Just as a living trust is of small use if it is not funded, an asset protection plan is of little use unless it is funded and the documentation is done correctly.
For more resources about Nevada corporations or even about asset protection planning and especially about asset protection please review these links.
The redistribution of wealth from the more fortunate to the less fortunate is facilitated by the progressive tax system in the United States. It is also made by the judicial system through litigation, therefore many of entrepreneurs, business owners, retirees and others who have cumulated significant amount of wealth are often financially devastated by the U.S. judicial system. That’s why every wealthy person, even the ones with an average amount of property, need asset protection plans to prevent the risk of claims from the unknown future judgment creditors, particularly the frivolous claims, or even the employment- related claims that cannot be covered by most insurance policies, among many other exceptions to liability insurance coverage.
The best solution is to implement asset protection plans correlated with your estate plan. This way, providing additional assurance for your financial future and the means to make gifts of interests in protective assets to family members, far away from the view of your future creditors and from all of the creditors of your family members, your asset protection plan will intensify your estate plan, because the objective of legitimate offshore asset protection planning is to avoid litigation altogether. To do this, it uses a structure linking the prudent use of professional advice and foreign law. But pay attention for this is not intended to protect dishonest or incompetent persons from creditors. The asset protection plans, among legitimate tax- neutral and investment vehicle are available. Tempting investment vehicles can be represented by international variable life insurance and international variable annuities with reputable companies in secure offshore jurisdictions. Having different commission structures, they are better protected and are not subject to certain U.S. taxes.
It is also good to know that asset protection plans may incorporate the insurance against automobile accidents, which is rarely maintained at the level necessary to cover these kinds of claims. Because of the high level of coverage, it may be prohibitively expensive or even impossible to insure.
Being done with full IRS compliance and disclosure, asset protection planning and proper tax planning do not involve tax evasion or anti-IRS theories. Always keep in mind that high quality asset protection plans come with good advices, formulated on a case-by-case basis. Ignore the cheap asset protection advices posted on the Internet. Asset protection plans are not implicated in hiding money offshore or using offshore credit card accounts.
Asset protection plans provide with excellent solutions to asset protection issues. Being compliant with U.S. laws, variable life insurance policies and variable annuity contracts offer a wider range of investment opportunities at lower costs beside U.S. policies for policies with total aggregate premiums of over $100,000.
Another matter which needs your full attention is in choosing a consultant for asset protection plans. On the Internet you will find many offshore service providers who offer various offshore tax planning and asset protection schemes. You will first have to look for a consultant with extensive tax experience that is able to give you competent and comprehensive U.S. tax advice.
Asset protection plans are complex and challenging tasks in today’s environment, and need to be properly designed and implemented. Just as a living trust is of small use if it is not funded, an asset protection plan is of little use unless it is funded and the documentation is done correctly.
For more resources about Nevada corporations or even about asset protection planning and especially about asset protection please review these links.
Oct
10
Travel Jobs & How to Make Money While You Travel
Filed Under Wealth Creation | Comments Off
Money For Traveling
Ever had the desire to quit your lame 9 to 5 job, tell your boss to shove it, pack up and start traveling the world?
All of us have had that desire at one point! The thing that stopped you was probably the same thing that stops most people: money.
“How will I pay for my flights, food, lodging, transportation, yada, yada, yada,” you asked yourself.
Don’t let these concerns bother you too much, because there is an underground, growing group of travelers who are utilizing some simple but hidden techniques to make significant incomes while traveling.
Here’s an overview of how we make money traveling and by landing travel jobs:
Underground Travel Income Method #1 – Traditional Travel Job - Hold a job that either a) pays for us to travel or b) is located in the place we wish to travel to. This is the lowest paying and most complicated method of all, but is the most commonplace.
Common jobs that pay for travels are for professional speakers, salespeople, package couriers, flight attendants, travel nurses/doctors, conservationists, cruise ship workers, etc.
Travel jobs located in the places we wish to go to can be any of the above, but also are specific to the location we travel to. There are some FUN jobs overseas that are looking for foreign workers!
Underground Travel Income Method #2 – Travel Writing – Travel writing jobs for magazines are more common than you may imagine. However, there are LOADS of other ways to write as you travel and make money, including blogging, picking up projects from sites like Elance and Guru, and writing travel guides, both online and offline.
Underground Travel Income Method #3 – Selling Affiliate Products – Using a simple website, you can drive online traffic to a product that will be of interest to your online followers. Don’t be intimidated by this! It can be as easy as using your very own Facebook or Myspace profile. Affiliate products typically pay 50% to 75%, so you can make a very healthy income for selling just a few objects.
Underground Travel Income Method #4 – Filming Your Adventures – If you’ve got the camera out and you’re taking pictures, why not switch it to ‘film’ mode and make money from it? You simply make a video of your destinations using iMovie or Windows Movie Maker, then use your videos to create a customer base!
Underground Travel Income Method #5 – Podcasting – If filming scares you off or intimidates you, you can make an iTunes podcast. It is easier than ever to get listed in iTunes and there’s a HUGE audience of podcast listeners. Simply talk about the places you visit two or three times a week and watch how your following grows… and how your bank account grows!
Underground Travel Income Method # 6 – Ebay – The common misconception about Ebay is that you have to sell a physical product to make money. Here’s the trick: You can set up a fulfillment house to ship your product (or hire your little sister or the neighborhood kid). All you have to do is create your Ebay post from an internet café and collect the money!
Take any one of these six ‘travel job’ methods, and there are hundreds of travelers all over the world making more money than they would at a regular ‘job…’ and they’re living it up at exotic, world-class destinations. Take your pick, and take action on the ideas here!
**Attn Ezine editors/Site owners**
Feel free to reprint this article in its entirety in your ezine or on your site as long as you leave all links in place. You may not modify the content and must include our resource box as listed above. However, you may sign up as an affiliate at MoneyForTraveling.com and insert your affiliate links to earn income for your efforts.
Ever had the desire to quit your lame 9 to 5 job, tell your boss to shove it, pack up and start traveling the world?
All of us have had that desire at one point! The thing that stopped you was probably the same thing that stops most people: money.
“How will I pay for my flights, food, lodging, transportation, yada, yada, yada,” you asked yourself.
Don’t let these concerns bother you too much, because there is an underground, growing group of travelers who are utilizing some simple but hidden techniques to make significant incomes while traveling.
Here’s an overview of how we make money traveling and by landing travel jobs:
Underground Travel Income Method #1 – Traditional Travel Job - Hold a job that either a) pays for us to travel or b) is located in the place we wish to travel to. This is the lowest paying and most complicated method of all, but is the most commonplace.
Common jobs that pay for travels are for professional speakers, salespeople, package couriers, flight attendants, travel nurses/doctors, conservationists, cruise ship workers, etc.
Travel jobs located in the places we wish to go to can be any of the above, but also are specific to the location we travel to. There are some FUN jobs overseas that are looking for foreign workers!
Underground Travel Income Method #2 – Travel Writing – Travel writing jobs for magazines are more common than you may imagine. However, there are LOADS of other ways to write as you travel and make money, including blogging, picking up projects from sites like Elance and Guru, and writing travel guides, both online and offline.
Underground Travel Income Method #3 – Selling Affiliate Products – Using a simple website, you can drive online traffic to a product that will be of interest to your online followers. Don’t be intimidated by this! It can be as easy as using your very own Facebook or Myspace profile. Affiliate products typically pay 50% to 75%, so you can make a very healthy income for selling just a few objects.
Underground Travel Income Method #4 – Filming Your Adventures – If you’ve got the camera out and you’re taking pictures, why not switch it to ‘film’ mode and make money from it? You simply make a video of your destinations using iMovie or Windows Movie Maker, then use your videos to create a customer base!
Underground Travel Income Method #5 – Podcasting – If filming scares you off or intimidates you, you can make an iTunes podcast. It is easier than ever to get listed in iTunes and there’s a HUGE audience of podcast listeners. Simply talk about the places you visit two or three times a week and watch how your following grows… and how your bank account grows!
Underground Travel Income Method # 6 – Ebay – The common misconception about Ebay is that you have to sell a physical product to make money. Here’s the trick: You can set up a fulfillment house to ship your product (or hire your little sister or the neighborhood kid). All you have to do is create your Ebay post from an internet café and collect the money!
Take any one of these six ‘travel job’ methods, and there are hundreds of travelers all over the world making more money than they would at a regular ‘job…’ and they’re living it up at exotic, world-class destinations. Take your pick, and take action on the ideas here!
**Attn Ezine editors/Site owners**
Feel free to reprint this article in its entirety in your ezine or on your site as long as you leave all links in place. You may not modify the content and must include our resource box as listed above. However, you may sign up as an affiliate at MoneyForTraveling.com and insert your affiliate links to earn income for your efforts.