You’ve built a fence to protect your assets by using an LLC, now learn how using the awesome power of Irrevocable Trusts will build you a castle.Protecting your assets is about building legal walls to keep out a litigation attorney after a successful lawsuit.

If the deceased was also the grantor of the trust, the living trust is now an irrevocable trust.  

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.History.

The sales proceeds are held in an irrevocable trust.

We try not to use CRT or Irrevocable Trusts so we can keep our clients in control of their assets and capital.We will need to know more about your specific need

The beneficiary is a WY family trust all the trusts are grantor irrevocable trusts and have EINs.  

The trust may hide the true owner, YOU, a little, but any good lawyer with a solid case against you will have no problem getting at you personally.The only trust I know of that does offer solid asset protection is an irrevocable trust, where you basically give away your property to somebody else.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

You failed to perform as a buyer and you paid compensation to the seller for the damage that you caused.A unilateral option contract requires non-refundable option consideration, because you are buying the exclusive, irrevocable, right and option to buy the property for a set price for a set period.