• Asset Protection

    The necessity for asset protection planning involves protecting those assets you have now and providing protection for those assets you acquire int the future. The need for Asset Protection has never been stronger.

    Asset Protection is most useful before liability arises. The most prominent liabilities giving rise to potential creditors and claims against your assets arise in the following circumstances:

    • professional negligence such as a physician’s medical malpractice or errors and omissions by accountants, engineers, architects, small business owners,
    • the ownership of real property, known as “premises liability”,
    • tax or contractual obligations,
    • as a result of the imposition of criminal or civil fine or penalty,
    • divorce and other domestic relations disputes, and
    • in tort for negligent or intentional behavior.

      • There are also dangers lurking to impune liability to your exposed assets to those who are innocent victims. These situations involve either strict liability or vicarious liability, such as the liability you have when you sign for a driver’s license, allow someone to drive you vehicle or allow your employees to run errands while working.

      There are many tools, strategies and vehicles to consider when implementing Asset Protection Strategies.  Here are a few:

  • National Association of Consumer Bankruptcy Attorneys