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Borrowing out equity is especially useful for real estate. ?This troublesome asset has a difficult characteristic: real estate cannot be moved. ?Therefore, it will always be subject to the jurisdiction of the local judges and juries.

A few years back, an arm of the government had received word of continuous drug activity in apartment complexes. ?Based on a telephone call, this arm of the federal government conducted raids and found illegal drugs in the apartment complexes and commenced to seize the apartment complexes, under valid drug forfeiture laws. ?The apartment complexes with heavy indebtedness were not seized, as there was no equity. ?The real travesty of the story is that most of the calls reporting drug activity were from the apartment managers and owners to the police seeking help to rid the apartment complexes of drugs. ?The lesson of the story is that third party indebtedness will be?respected.

Excerpt from The Complete Guide to Estate and Financial Planning in Turbulent Times (Collaborative Press, 2011) - Walt Dallas, Contributing Author

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Source: http://blog.estateplanning123.com/2012/10/asset-protection-planning-how-does-borrowing-out-equity-help-to-protect-my-assets-pt-2.html

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