Asset Protection

Rottweilers make great pets for the right family, but don't tell the Rott they are a "pet." However, legal documents do a better job protecting assets. Asset protection planning involves working with an experienced attorney who will know what techniques to apply to your unique situation that will protect your hard-earned assets from claims of future creditors.

Types of Asset Protection

Some examples of techniques used by our firm include setting up a series of trusts, legal entities, and/or an asset protection trust to hold legal title to your assets. In the age of the internet, it is easy for a future creditor to do a search of a potential target before filing a lawsuit. Upon doing such a search, a future creditor discovering these trusts and entities will recognize how difficult it would be to collect on any judgment. Therefore, the creditor might decide it makes little sense to pursue a claim, or be willing to settle for pennies on the dollar.

It is Vital that All the Plans are Integrated to Prevent Conflicts

Asset protection planning is an integral part of estate planning and business planning. Estate planning and business documents should not be created separately. This means that if your documents are not properly drafted, one document could inadvertently ruin your asset protection. You could even put your personal assets at risk. Frequently, people have generic documents that do not integrate with each other. For example, a Power of Attorney document can conflict with your Living Trust. Your Living Trust may conflict with the Death of a Member clause in your Operating Agreement.

Our firm focuses on making sure that all of your documents are coordinated. We have designed proprietary documents that protect your assets.