First, let’s talk about what asset protection is NOT. Asset protection is not evading the IRS. Asset protection is not evading judgment creditors. Asset protection is not creatively making cash flow from a company with no cash. I do not represent people with unclean hands. Unclean hands means that you have a judgment against you and you want me to help you be judgment proof so that you don’t have to pay it. If you have a potential claim now, we can set aside the amount of money you would need to satisfy the judgment and protect the remainder of your assets.
Now, let’s talk about what asset protection IS. Asset protection is:
- Protecting a child from a pushy spouse who spends and wastes money;
- Protecting a business from future creditors;
- Avoiding (not evading) payment of taxes that you really do not have to pay;
- Protecting your company from liquidation at your death – creating a business succession plan;
- Protecting your business partners from having to work with your spouse;
- Protecting a home or funds for use by a special needs person;
- Creating a legacy or scholarship funds for education or to support future generations;
- Protecting assets for the benefit children in the event of divorce;
- Protecting assets for the benefit of children in the event of a death;
- Protecting against unnecessary legal / probate fees.