Working to Protect Everything You Have Earned from Creditors and the Government

Sophisticated Asset Protection

Most business owners spend a large part of their life accumulating and building their wealth.  As they get older, the protection and preservation of that wealth becomes critically important.  Sadly, most never take the time to proactively protect their life’s work and this can lead to disaster.  It is well known that the United States has more lawyers per capita than any other country in the world & it is estimated that frivolous lawsuits alone cost over $200 billion a year.  For many business owners, the threats to their assets are ominous and chronic whether it be due to a lawsuit, bad business deal or divorce.

Few people realize that, depending on state law, you can lose everything from your business, to your home to your checking accounts.  Our law firm has personally witnessed numerous people that were highly successful lose everything they had due to a single mistake. It doesn’t have to be that way, BUT YOU MUST ACT PROACTIVELY.  Almost every state has laws that prevent you from doing effective asset protection planning once a lawsuit and Judgment are imminent.

If you make it a priority to plan ahead, you can fully protect all of your Assets including brokerage accounts, savings, your home and investment real estate.  For many of our clients, asset protection is one of the most important goals of estate planning. Protecting your assets from creditors and other sources of liability can be beneficial to prevent your life’s work being taken by unscrupulous creditors. It is crucial to start planning before your creditor’s start making claims against you. If you transfer your assets after a claim has been made, the transfer will likely be considered fraudulent and the courts will overturn the attempted transfers.

This impacts not only multimillionaires, but also people with $100,000 to $500,000 of liquid savings and real estate, whose life’s work can be destroyed by even a modest lawsuit in the blink of an eye.

Our Solutions

  • Maximize state and federal laws that protect some assets from creditors
  • Post nuptial marital agreements
  • Gift transactions that still allow for control
  • Transmutation agreements in community property states
  • Professional entity formation
  • Segregating liabilities by establishing separate LLCs for equipment, real estate, operations, management and other business activities
  • Domestic asset protection trusts
  • Offshore asset protection trusts
  • Hybrid asset protection trusts

Contact us today for a free consultation. Call us at 504.212.3440 or email us at info@lawealthplan.com.

 

Wealth Planning Law Group is proud to partner with the Asset Protection Council to bring you the Key Concepts of Asset Protection Series.