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Asset Protection

Asset protection is a process that involves organizing an individual’s financial affairs in such a way as to protect assets from the risk of exposure. Without asset protection, an individual’s assets may be in an unprotected form of ownership. For example, they may own property that is in their name or even the name of a revocable living trust. With asset protection, the individual’s assets then become a little more hidden and not directly linked to them. This can be done through the use of certain types of trusts, limited liability companies, limited partnerships, corporations, and other such entities. Asset protection can also be a process of transferring financial affairs into exempt assets to the extent permitted by the state that the individual resides in.

Do you want to find out more about an asset protection plan? Our lawyers can help! Contact our asset protection attorneys today.

The following can lead to seizure of your assets in a lawsuit brought against you without an asset protection plan:

• Divorce
• Personal injury
• Car accidents
• Employment discrimination
• Sexual harassment
• Whistle blowing
• Wrongful termination
• Medical malpractice
• Legal malpractice
• Product liability
• Shareholder liability
• Securities fraud
• Homeowner association disagreements

Due to the types of judgments and lawsuits that exist today, a properly crafted asset protection plan can also go far in steering creditors in a different direction and causing them to look elsewhere. As a matter of fact, deterrence is a large aspect of asset protection. Usually, a plaintiff is unwilling to execute attacks against a defendant who has a strong asset protection plan.

Are you or a loved one in need of asset protection? Our attorneys can help! Contact our asset protection lawyers today.

Did you know?
Judgment creditors are cost conscious and if collection efforts wind up becoming too much of a bother, then that creditor is likely to settle for far less than the amount of the judgment or move on to a simpler target.
It’s important to keep in mind that certain creditors are not subject to state exemption when it comes to utilizing exemptions as a form of asset protection. Examples include alimony, federal tax liens, child support, state tax liens, purchase money retailers, and mechanics liens.