How do I Assign an asset to my Asset Protection Plan?

Funding your plan is the process of placing the actual assets you wish to be protected inside of one of the entities you created for your plan.  This could be an LLC, the AMLP or even the Bridge Trust itself.  For assets which have a title, like real estate or an airplane, you would actually change the name on the title of the asset itself.

For assets which do not have an title or other official record of ownership, then an assignment form is used.  An 'assignment' is a legal document which transfers ownership of an asset from one party (the "Assignor") to another party (the "Assignee").  This document is signed (physically or digitally) and may also be notarized, although notarization is not typically required.

For an assignment to be valid it must clearly state the intent to transfer ownership of an asset.  The Assignor must possess legal title to the asset.  The asset must be clearly described and identifiable, and the Assignee (Receiver of the asset) must be named.

Assets which are ideal of the use of an assignment are:

• Cryptocurrency
• Precious Metals
• Collectibles (Art, Stamps, Coins, Etc.)
• Antiques
• Firearms

There is no specific technical form the assignment can take as long as it meets the above criteria, however, we do recommend that for assigning assets to your plan you use the form we provide to you.  Two versions of this form are attached here and may be downloaded for your use.  Note that specifically for Cryptocurrency we are currently recommending that your wallets be assigned directly to your Bridge Trust. Click here for full details on Protecting Cryptocurrency.

As always if you have any questions or need support on filling out or using your assignment form please contact us directly at [e-mail]

Lodmell & Lodmell, PC is one of the nations leading Asset Protection Law Firms and the creators of The Bridge Trust®.  L&L serves clients nationwide and may be reached at [e-mail] or 602-230-2014.