Every once in awhile, you hear a story about how one of the Kennedy's got drunk, drove home, and smashed up something or other in the process.
Apparantly the Kennedy's have assets locked up in trust, so they can get away with this sort of thing without getting sued and having a judgement take away all their money.
Is this real, or an urban legend? I've seen lawyers trying to sell asset protection trusts for $3k to $5k.
Most normal people, when assets reach a certain threshold, have umbrella insurance for liability protection. Is a trust another/better option? Any recommendations on where to learn more?
Thanks
Jeremy
Apparantly the Kennedy's have assets locked up in trust, so they can get away with this sort of thing without getting sued and having a judgement take away all their money.
Is this real, or an urban legend? I've seen lawyers trying to sell asset protection trusts for $3k to $5k.
Most normal people, when assets reach a certain threshold, have umbrella insurance for liability protection. Is a trust another/better option? Any recommendations on where to learn more?
Thanks
Jeremy