If you, your spouse, or a member of your family works in a profession with a higher likelihood of liability or face potential threats from creditors, judgments, or estate taxes, you may wish to structure your estate plan to minimize these risks.

Far too often, people think that a valid Will can provide asset protection. This is simply not true. Assets left through a valid Will could still be subject to taxes, debts collectors, and lawsuits meaning that proper asset protection must take place prior to your passing.

Asset Protection Trusts

It is not enough to simply understand how asset protection trusts work; steps must be taken to implement this protection. An asset protection trust is a way for your family to plan ahead for the future while protecting family assets. Asset protection trusts can be used to protect homes, automobiles, money, and other personal belongings.

Limited Liability Company (LLC)

Business owners may also protect their personal assets by setting up a limited liability company (LLC). This limits creditors to company assets to collect debts rather than the business owner’s personal assets.

Create an Asset Protection Strategy

Contact my office to learn more about creating a customized asset protection strategy.