Proctecting Your Family & Business from Creditors & Predators
Too often a lifetime of hard work is only a blink away from being wiped out by aggressive creditors and frivilous lawsuits. In many of these cases liability insurance will either be insufficient or the insurer will deny the claim leaving you on the hook. Failure to plan only increases the likelihood that a creditor or predator will see you as an easy target.
Business owners, from those in the contruction industry to real estate investors to doctors or lawyers, face substantial financial risk through judgements related to the business or to personal accidents, future creditors, or family related events such as divorce. Fortunately, through properly structured, ethical and legal asset protection planning, the exposure of your hard earned wealth can be dramitically reduced.
Ok, I understand there are some unscrupulous characters out there, but I have not done anything wrong.
While it's always best practices to operate within the law, many times creditors and predators are only interested in obtaining your money - not receiving justice. Simply, these parties are looking for targets with deep-pockets and limited barriers between them and those pockets - they are not concerned with your innocence.
I see what you mean, what do you advise I do to protect my assets?
Comprehensive asset protection planning uses a combination of strategies to achieve optimal protection of your family and/or business assets. Some of those strategies include:
- Pre- and post-marital agreements
- Domestic asset protection trusts
- Limited liability business structures
- Exempt asset protections under state law
- Foreign situs trusts
- Proper use of life insurance, annuities, and IRAs and qualified pans
- Business purpose or gift transfers to family members or third parties
What can I do if I am currently being sued?
Generally, once a claim is made against you, the opportunity to protect your assets is gone. This is because certain laws exist to prevent the transfer of assets in ways that hinder, delay, or defraud the creditor's rights.
Protect yourself today, contact me at (714) 704-4828 for your no cost initial asset protection planning consultation.