@originaldohnthornton: “I have insurance… I’m covered.”
Until the catastrophic accident happens.
A permanent injury.
A paralysis case.
A fatality.
Now the lawsuit can become far bigger than the insurance policy limits.
That’s when attorneys start looking for everything else connected to you.
Your vehicles.
Your assets.
Your businesses.
Your properties.
And if the vehicle is tied directly to you personally…
or sitting inside a publicly visible LLC / Corporation…
the exposure can become enormous.
That’s why holding vehicles inside a contract law spendthrift trust is so powerful.
It’s like adding another layer of protection beyond the insurance policy itself.
The trust provides powerful lawsuit protection, far greater privacy because it is not publicly registered with the state, and no taxable events.
Same vehicle.
Completely different level of protection (info purposes only; not a licensed tax, legal, or accounting professional) #taxdeductions #taxsavings #taxreduction #accident
