Promissory Note Set-Up Form: Fill & Download for Free

What I will share with you may shock you but read it carefully because once I met the company that helped me set up in this creative way 6 years ago I was able to avoid lawsuits and the few who still sued me ended up dismissing their case or settling with whatever my insurance offered:If you have a home in an llc and you have equity in that home a plaintiff can still go after whatever equity you have there by suing the llc anyway - even if you don't pay right away they can force the llc to sell and get paid if they get a charging orderSo putting each property in a separate llc asset is not necessarily the best strategy although it limits the potential loss to just that particular property in that particular llc getting suedWell the way this company structured my holding is the best way to protect your assets and it is very unconventional:1) keep each property in your name or whatever entity name you have it in currently2) set up a Wyoming LLC and draft the (operating agreement) OA to have several business purposes for the LLC existence, one of them should be asset protection (I can share with you privately the 13 business reasons in my LLC that the company set up for me because they hold up in federal court)3) capitalize the entity by placing a promissory note equal to the equity you have in each of the properties you are trying to protect (read that one again - it is not a loan it is a Promissory Note to place capital/money in your WY llc - you promise to capitalize the entity by placing C amount that you currently do not have so your attorney will draft a Promissory Note payable to the LLC and they will draft a lien)4) that lien will get recorded against each property you have (payable to the WY llc) again, for the capitalization amount you wish to place into your WY llc (which should equal your equity in each property)5) now you would have a 1st lien to some bank and the 2nd lien to your Wy llc6) anyone trying to sue you and go after any equity they will see that the property is slightly over leveraged so there is nothing to go for beyond whatever the insurance is willing to pay7) the llc is tax neutral because it is set up by the company that sets up these asset protection that way - they also set up the liens with the promissory notes in a very creative and legal way to make only one Payment a year and accrue all payment and interest for a ballon Payment 30 year later (very powerful - you ate paying yourself!)8) WY llc should be owned by your living trust (it is included in the structure)Anyone trying to sue you will see that1) you have insurance including umbrella coverage2)you have 2 liens one to the bank and one to the WY LLC hence no equity to go after3) they will end up settling with your insurance because there is nothing to go afterWhen you sell the house, you simply show the title co. That you have the certificate of ownership of the llc and can remove the lien at any time (because it was not borrowed capital it was simply an I owe you promissory note to capitalize an entity)Simple, inexpensive, powerful and you can add as many properties anywhere in the US and strip their equity in the same way with just one llc (yes one llc without transferring your current ownership out of your name or any name) so fast and so powerful (so long as you set up before the lawsuit takes placeCost if you do it on your own:Setting up a Wy LLC maybe less than $1k with the registered agent etcBut the real expense would be to draft a good OA that has the business reasons and ways to avoid the charging order etc - that would need an attorney who specializes in this kind of structures and the cost would be somewhere around $3k to $4kThen you would need an attorney who knows how to draft the promissory notes and liens in compliance with each state in a way that would be based not on a loan but on the capitalizing of the entity in Wy - with a minimum of one payment per year and deferring other payments and interest to be a ballon payment at the end of 30 years and the right clauses for cancellations etc that would cost you another $3k to $4kTotal if you do it on your own probably around $10k to $15k - still a lot less than any attorney’s package that make you transfer each of your properties into separate LLCs and then they set up anonymous corporations in NV or NM with trust accounts flowing through to some other entities etc etc a total mess that confuses your spouse and family members and can potentially tie you up to these lawyers for years with on going fees for their benefit not yoursThe WY llc structure is set up in 72 hours - it can be canceled in a day and it has zero impact on your taxes plus it is form of probate -private message me and I can give you the attorney's firm that set it up for me for less than $5k plus a fee for additional liens when I buy more properties (or sell properties)I have several properties all over the US and it not only helped me avoid lawsuits but they were forced to settle with my insurance because if they pursue a case against me and win they would be unable to enforce the charging order against me due to the charging order protection in the WY LLC code - they would get nothing out of the LLC except a K1 for winning their lawsuit the K1 will have no actual cash distribution so they would end up with a huge tax bill for phantom income, which would hurt them if they win the lawsuit. Plaintiff’s attorneys usually drop the case way before thatBest structure I have ever set upAdded answer after a few days of getting a lot of private messages: that company is KMAGB and they have an animated video that explains in good details

U.S. perspectiveThere are two reasons why the steps you are considering will not protect your business from a debtor who seeks to collect your personal debt by seizing your business assets or revenue.First, a sole proprietorship - your current form of business - is not a separate legal entity; it is merely a business that you are conducting as an individual. Consequently, your business assets and revenue are your personal assets and revenue, thus they are subject to seizure to pay your personal debts.Second, you cannot protect your business by after-the-fact legal game-playing.If you set up, then transfer assets and revenue to, a limited liability company to avoid a creditor, then that transfer will constitute a fraudulent conveyance. The creditor will be able to seize your assets and revenue, anyway. You will have invested time, energy and money into the LLC for no benefit.A sole proprietorship cannot be dissolved.

The Board of Governors of the IMF consists of one Governor and one Alternate Governor from each member country. For India, the Finance Minister is the ex-officio Governor on the Board of Governors of the IMF. Governor, RBI is India's Alternate Governor.• In July 2004, the Government of India approved IMF's proposal for setting up a joint training program at the National Institute of Bank Management, Pune. The Training Program will provide policy oriented training in economics and related operational fields to Indian officials and officials of countries in South Asia and East Africa. The first training program was held during July 2006. RBI is the nodal body to co-ordinate the training program with the IMF. The Institute caters to participants from regional countries, especially in the SAARC region.The Financial Transactions Plan of the International Monetary Fund is the mechanism through which the Fund finances its lending and repayment operations, to its members, in the General Resources Account. The members of the Fund can take loans from IMF with limitscorresponding to their quota. IMF lends to its members in both foreign exchange and SDRs. Credit extended in foreign exchange is financed from the quota resources made available to the IMF by members. The creditor gets benefited as their position gets increased. When extending credit in SDRs, the IMF transfers reserve assets directly to borrowing members by drawing on the IMF's own holdings of SDRs in the General Resources Account.In case the imf wants emergency funds India has to commit a certain amount in the form of promissory notes or securities issued by RBI on behalf of the government of India.