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Asset Protection

Asset protection planning involves applying a lawful series of techniques that protect your assets from claims of future creditors. The techniques are designed to deter potential creditors from going after you--generally by making it difficult or impossible for future creditors to secure your assets or collect judgments. There is a dividing line, however, between asset protection planning, which is legal, and actions to defraud creditors, which are criminal. For that reason, it is essential to have an experienced estate planning attorney guide you through the process.

In cases where significant sums are involved, asset protection planning often includes setting up a series of trusts, partnerships and/or off-shore entities to hold legal title to your assets. A future creditor who recognizes how difficult it would be to collect on any judgment it may win, might decide it makes little sense to pursue a claim, and/or be willing to settle for a substantially lesser amount than once commanded.

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