Asset Protection - Proprietary Irrevocable Spendthrift Trust
Hi!
I recently went to a RE conference and there was a company there called Platinum Trust Group (platinumtrustgroup. com) that told us about proprietary irrevocable spendthrift trust. Basically, they're saying that this is the best and most full proof way of protecting your assets. I said I have an umbrella insurance already as well as a living trust and they said that those are still very penetrable but what they have is absolutely not penetrable mainly because it is a third party entity and not tied to your social security. And also that it has amazing tax advantages... whatever property you have in the trust, if you sell it, you don't incur capital gain tax on it and you also don't have to do 1031 exchange.
Just wondering if anyone has had experience using this trust or familiar with this company.