ASSET PROTECTION First things first: I know that some of you worry about what would happen if your money was left to your young kids. That’s smart! Can you imagine if a 10-year-old suddenly had access to $100,000? Nope! The 10-year-old humans I know would go out and spend it on candy and games. It’s not in their best interest or yours. You want to know your kid is protected, and the best way to do that is through a trust managed by a trustee or co-trustees who you select to manage the assets inherited by your minor children until they become wise adults. When it comes to protecting assets for your spouse or children, the best asset protectionmethod is to create a trust that provides lifetime asset protection for the loved ones who will inherit your assets. The trustee of each loved one’s trust could be the person who inherits the trust’s assets or a person in whom you have faith if the beneficiary should not have control of the assets. Another advantage of a trust is that it avoids an expensive and lengthy pubic probate.
Since we work with many small businesses, our clients are concerned with how best to protect their business and other assets for their family. Once a business owner has their LLC in place, people often ask, “How do I protect my assets?” We sat down with Cody
Keyt, the KEYTLaw office dog, to learn more about what you can do to protect your most valuable assets in your business and beyond.
Hi there! Cody Keyt here, and I’m so excited to share what I’ve learned during my time as the office dog at KEYTLaw. I’ve been spending 40 hours a week in the KEYTLaw office since I was eight weeks old, so I’ve learned a few things!
As my granddad, Rick, and my dad, Ricky, say to people all the time, there are two big reasons why you need an estate plan with a trust.
To learn more about this important topic text FAP to 72000 to get a free copy of the Keyt’s estate planning book called “ Family Asset Protection. ”
1. To ensure that you, not your state of residence, determine who inherits your assets after your death.
Disclaimer: While Cody is very wise and loyal, he has not attended law school and his suggestions should not be misconstrued as legal advice. Should you have follow-up questions from this article, reach out to one of the attorneys at our firm. However, if you are looking for friendly greetings and to have mail brought to you, Cody is the best canine for the job.
2. To give lifetime asset protection for the assets inherited by your loved ones.
PEANUT BUTTER & BERRY FRENCH TOAST
TRAIN YOUR | BRAIN
INGREDIENTS
• • • • •
2 cups cornflakes
• • • • •
8 slices brioche, 1/2-inch thick 1/4 cup creamy peanut butter
2 tablespoons unsalted butter
2 cups mixed berries
2 large eggs
Powdered sugar, to sprinkle
1/8 cup heavy cream
Maple syrup, for serving
2 teaspoons pure vanilla extract
DIRECTIONS
4. In a large skillet over medium heat, melt 1 tablespoon butter. Once melted and up to temperature, add sandwiches, cooking on one side until golden and crisp, about 2–3 minutes. 5. Return sandwiches to baking sheet, add remaining butter, and repeat on other side. 6. Top sandwiches with berries, sprinkle with powdered sugar, and serve withmaple syrup. | 3
1. On a large baking sheet lined with wax paper, place 4 slices of brioche and spread 1 tablespoon of peanut butter on each. Cover with remaining slices, creating sandwiches. 2. In a pie plate, beat eggs with cream and vanilla. In another, coarsely crush the cornflakes. 3. Lightly soak sandwiches in the egg mixture, then dredge in cornflakes, pressing to adhere. Return to baking sheet.
SOLUTION
Made with FlippingBook - Online Brochure Maker