Asset Protection
Asset Protection Planning refers to the adoption of advance planning techniques,
which tend to place assets beyond the reach of future potential creditors. Asset
protection planning must not involve hiding assets, committing fraud or perjury,
or engaging in fraudulent transfers. Traditionally, asset protection methods were
created to legally protect a person’s assets from creditors. The degree of control
that one has over their assets, controls whether or not creditors may reach them.
The use of sophisticated combinations of business and estate planning techniques,
if properly designed, could reduce or even alleviate altogether, any execution on
assets held by a debtor. For example, trusts serve to protect assets from a beneficiary’s
own extravagance or bankruptcy, protect assets for the benefit of the intended beneficiary
by limiting exposure to possible claims which arise in tort, in contract or by reason
of the actions of the beneficiary, and serve to preserve wealth within the intended
class of beneficiaries.
In developing your asset protection plan, and depending on the structure used, a
myriad of protective provisions would be drafted to protect your family, your business,
and your interests. The Strauss Law Firm will conduct a comprehensive review of
your assets, your needs, and all available options. Using cutting-edge techniques
in a legally sound manner, The Strauss Law Firm will design and implement the most
effective asset protection vehicle in an effort to ensure your needs are met.