Comprehensive Protection Through California’s Private Retirement Trust®
The world of asset protection is complex, and often, options involve transferring ownership or making irrevocable decisions. However, California residents have access to a unique, little known, yet potent creditor exemption statute that protects a Californian’s “can’t-lose” retirement assets: The Private Retirement Trust® (PRT®). Designed specifically to leverage a long-standing California state statute, the PRT® converts vulnerable non-exempt assets into exempt retirement assets, providing robust protection and the ability to maintain/sustain your lifestyle needs through your retirement years.
Key Benefits of The Private Retirement Trust®
The PRT® offers several remarkable benefits, including:
- Unrivalled Immediate and absolute exemption protection without the need to irrevocably “give away” the underlying asset
- Self-direction of PRT® funding and investments, even including private business interests
- Continuous protection of all PRT® distributions, regardless of future planning needs
- Complete protection of plan assets from lawsuits and judgments, even in bankruptcy situations
- No requirement to cover other employees
- Absence of annual IRS filings
What The Private Retirement Trust® Does Not Do
The PRT® does not provide tax deductions as it is tax-neutral. Owners pay taxes as if they owned the asset in their own name. Also, it does not remove assets from the taxable estate. The assets are included in a client’s estate as a retirement benefit during their lifetime. However, this issue can be easily addressed with advanced planning, if necessary. The PRT® also does not invoke fraudulent conveyance by evading creditors. Instead, it simply maximizes state “creditor exemptions” available to all Californians under California law.