Asset protection planning involves developing and applying a lawful series of techniques that protect your assets from claims of future creditors. The techniques are designed to deter potential creditors from going after you, and frustrate them if they do, generally by making it difficult or impossible for future creditors to get a hold of your assets or collect judgments against you.
Setting up an asset protection plan is a complex and challenging task. The plan not only needs to be properly designed, but it also needs to be properly implemented. Just as a Revocable Trust is of small use if it is not funded, an asset protection plan is of little use unless it is funded and the documentation is done correctly. Whether it is a limited partnership, limited liability company, trust, corporation or some other asset protection vehicle, we can assist you in structuring your plan and interrelating the various entities for maximum benefit.
In cases where significant sums are involved, asset protection planning often includes setting up a series of trusts, and/or partnerships inside or outside of California to hold legal title to your assets. As a result, a future creditor who recognizes how difficult it would be to collect on any judgment it may hold, may decide it makes little sense to pursue a claim, or be willing to settle for pennies on the dollar.
Our expertise is structuring the ownership of your assets to make it difficult, or impossible to be taken away. Creditors, divorcing spouses, unhappy business partners – all can threaten your assets. Our advanced Asset Protection Planning eliminates these threats. Our clients tell us that with their assets protected they have the freedom to live without financial worry.
It is critical to protect yourself now from unforeseen legal troubles. No matter what stage of distress you may be in, defensive legal measures can and should be taken to protect your assets. Asset protection is just like insurance — buy it before you need it, and hope you never need to use it. Protecting yourself properly will take resources, but it is one of the best possible investments you can make to protect your assets.