An asset protection attorney is a lawyer with experience in helping clients find legal ways to protect their assets when lawsuits, bankruptcy, creditor claims, or other liabilities arise. This experience allows the attorneys to discuss the advantages and disadvantages of certain asset protection tools with their clients.
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Feb 09, 2018 · Hiring an asset protection attorney will ensure that everything you do with your property is perfectly legal. Because different people have different types of assets, experienced attorneys know that they have to tailor each individual asset protection plan to specific clients. There is no specific formula or guide that can be used – asset protection planning is a highly …
An asset protection attorney is a lawyer with experience in helping clients find legal ways to protect their assets when lawsuits, bankruptcy, creditor claims, or other liabilities arise. This experience allows the attorneys to discuss the advantages and disadvantages of certain asset protection tools with their clients.
Asset Protection Attorneys Protect Your Assets Today! At The Presser Law Firm, P.A., we help our clients protect their hard-earned assets from lawyers, malpractice claims, creditors, foreclosure deficiencies, former or current spouses, children, relatives, and greedy lawsuit-obsessed citizens.
Bankruptcy Lawyer Christopher German has assisted over 1000 debtors protect their assets in Denver and other areas of Colorado. Contact us to protect your assets and file your Denver Bankruptcy. The Law Office of Christopher German, get your FREE CONSULTATION at 720-675-8070, you’ll be glad you did!
Who Can Benefit from Our Resources & Services? 1 You are wealthy or have only a few assets. 2 You are now unprotected against lawsuits or consider yourself well-protected. We'll show you how to design your first plan or improve your current protection plan. 3 You have never been sued, are in litigation, or have been sued, or want more protection before you are sued again. 4 You need to protect your own wealth or a client's wealth. 5 You need to shelter personal assets, your business, or your professional practice. 6 You are starting out and want to secure your future wealth, or want to shelter your nest egg or your children's inheritance. 7 You want to shield yourself not only against lawsuits, but also lawyers, creditors, foreclosure deficiencies, former or current spouses, children, relatives, and greedy lawsuit-obsessed citizens.
Yes, You Can Lose Everything! You may think that your wealth is safe and that you don't need protection. But don't delude yourself and accept reality — For every 60 minutes you spend making money, spend 60 seconds thinking about how to protect it!
It’s important to protect yourself before you get sued, and advanced planning can protect or even preclude the possibility of facing a threat to your liability. Don't forget that asset protection is a form of insurance — buy it before you need it.
If you have a lot of valuable assets or are financially well-off, asset protection is a very good idea. People with a lot of money are more likely to face lawsuits than those with more moderate wealth. Asset protection is essential if you are wealthy, know that you will receive a large inheritance, or are on a path to be wealthy in the future.
People in some jobs or industries are much more prone to being sued than other workers. Professionals, such as attorneys, physicians, and engineers, should have a good asset protection plan in place. Workers in health care and construction related industries might also want to investigate the possibility of developing asset protection tools.
Even if you are not in a litigious industry, people who own their own businesses should create an asset protection plan. If you don’t have the proper business structure in place, your personal assets could be fair game for those who sue your company.
Lawsuits can occur at any time. Even if you don’t fall into any of the above categories, a simple asset protection plan can be a lifesaver should a bad situation arise. If you are beginning the estate planning process, be sure to ask an experienced and qualified estate planning attorney about asset protection and whether it’s right for you.
An asset protection trust is an irrevocable, inter vivos trust. In other words, you fund the trust and place your property in it while you are living — and you typically cannot terminate or modify it.
While the attorneys at Barnes Cadwell are not financial planners — they work with a number of certified public accountants, certified financial planners, and insurance professionals who can provide a coordinated and comprehensive plan to protect your assets.
Asset protection is one of the most important things you can do. The planning is a method of preparing for any possible lawsuits in the future. It entails rearranging the ownership of your current assets so that they cannot be touched by creditors during a lawsuit. Asset protection can also act as a form of supplementary insurance. It can protect you from the various risks that can be associated with professions and businesses. Generally speaking, asset protection is used to safe-guard your assets that would be at risk. There are different degrees of asset protection. Typically, the more complex the planning is, the more effective it will be in the future. However, even though complex planning can offer you the best protection, it is also very expensive and there are more restrictions involved.
Asset protection is ethical and legal as long as the plan is put in place before a lawsuit is filed. It may be too late if there is already a claim or a lawsuit pending. Asset transfers during this time could be considered fraud. More specifically, fraudulent conveyance is where someone divests themselves of assets without fair consideration because they see a problem arising and would like to avoid paying a claim. However, a few highly sophisticated firms have ways of legally transferring assets in distressed times with a financial instrument to avoid problems with fraudulent conveyance.Please contact Estate Street Partners if you are seeking counseling to legally transfer your assets in distressed times and still avoid fraudulent conveyance. Each will be taken on a case by case basis. Estate Street Partners will never condone illegal practices and advocates transparent accounting and legal practices.
A foreign asset protection trust is essentially an offshore trust you can set up in jurisdictions outside the U.S. Domestic asset protection trusts can be set up for a singular purpose, such as asset protection for Medicaid planning or asset protection for a special needs beneficiary. If Medicaid is necessary to help pay for long-term care, ...
Trusts are just one element you may need to include in your estate plan. A last will and testament is the most basic estate planning tool you can use to specify who will inherit your assets. You may also want to include a durable power of attorney or advance health care directive to round out your plan.
Your homeowner’s insurance only covers up to a certain amount of medical expenses so the contractor sues you to recoup the remaining costs. If you have an asset protection trust in place, they would only be able to attach assets you personally own to satisfy any court judgment they might win.
Probate is a legal process in which an executor collects your assets, pays off any lingering debts and then distributes remaining assets to your heirs according to the terms of your will or state inheritance laws should you die intestate. Probate can be lengthy and costly but an asset protection trust would allow your heirs to avoid it for ...
Rebecca Lake Rebecca Lake is a retirement, investing and estate planning expert who has been writing about personal finance for a decade. Her expertise in the finance niche also extends to home buying, credit cards, banking and small business.