Asset Protection Planning

Asset protection encompasses various planning and structuring alternatives that may be used to shield an individual's assets from creditors. A creditor can be anyone with a claim on your assets: your business partner, your bank, the Internal Revenue Service, and even your former spouse. Asset protection planning is a legal means of structuring your asset ownership and your business affairs to make it very difficult, and sometimes impossible, for a present or a future creditor to reach your assets. The method used must be tailored to fit the client's needs.

Some common asset protection tools we use include:

• Corporations
• Limited liability companies
• Partnerships
• Trusts (including trusts in jurisdictions affording more protection)
• Various estate planning documents such as revocable trusts, wills and power of attorney.
• Pre-marital agreements
• Gifting