Asset Protection

Asset Protection

It is a common misunderstanding that only the very wealthy or those in professions with significant risk need asset protection planning. Virtually every client can benefit from some level of planning in this age of litigation. Creditors come in all shapes and sizes, from business liabilities to injured parties and even divorcing spouses.

We advise and assist with all levels of asset protection planning:

  • Marital agreements can protect anticipated inheritance and family business assets
  • Protecting the home from creditors is considered in virtually every plan
  • Clients with rental real estate assets should guard against lawsuits from injuries on their property Limited Liability Companies
  • Clients operating a business can protect personal assets from business creditors and vice versa with good planning Limited Liability Companies
  • Wealthier clients and those in high risk occupations may want to consider asset protection trusts

FYI

Divorce actions frequently drag a divorcing spouse’s parents’ financial information and estate plan into the feud. Surprisingly, courts are willing to consider evidence of a party’s anticipated wealth and overall family resources when dividing assets and deciding support orders.