Asset Protection Attorney
Offering Solutions to Secure Your Wealth & Property
If you’re like a lot of people, chances are your money’s out in the open. Financial hardship or a legal judgment against you could mean taking on a lot of debt, and unprotected assets can be wiped clean by creditors during collection. While only the very wealthy have traditionally sought asset protection measures, the truth is anyone can benefit from keeping important assets out of reach.
We at Legacy Planning Group can help people like you explore your options in asset protection planning. Most people opt for an asset protection trust for third-party beneficiaries, which shield whatever is funded into them from creditors’ claims. Asset protection trusts are important when it comes to estate planning, which is why you should consider establishing one for those you love. In doing so, you can rest assured that your loved ones’ interests are protected no matter what happens to your personal financial affairs.
Schedule a consultation with our asset protection attorney to learn more. Get in touch with Legacy Planning Group today by contacting us online or calling (310) 439-3704.
Why You Need Asset Protection
You could lose everything. We don’t say that to scare clients, but because it has happened to people before and can happen again to other people who don’t guard their wealth. Asset protection can ensure that not everything can be claimed by your creditors if you took on an unexpectedly overwhelming debt, have found yourself on the wrong side of a legal judgment, or are going through a divorce.
If you lose everything, you’ll have nothing to leave behind for your children to use. Although California does not permit asset protection trusts that benefit the grantor, it does permit those that protect third parties such as children or other loved ones. Adding a third-party asset protection trust to your estate plan can provide assurance that your loved ones are protected.
Asset Protection for Your Benefit
California law doesn’t make it very easy for people to protect their wealth for their own benefit, but it’s by no means impossible. At Legacy Planning Group, we can help you explore options in other types of trusts that can work to your benefit, although most are irrevocable and come with important trade-offs.
People often consider forming business entities such as partnerships, corporations, and limited liability companies (LLCs) to protect real estate, vehicles, or other important assets. When a family vacation home or boat is owned by a company controlled by family members or other business partners, creditors are unlikely to succeed in ordering a liquidation of these assets to collect one business owner’s personal debts. Likewise, certain businesses such as corporations and LLCs offer liability protection to prevent a company’s creditors from going after business owners’ personal assets.
Schedule a consultation with Legacy Planning Group to learn more! Contact us online to tell us you are interested in taking the next step toward protecting your wealth.
Get in Touch With Legacy Planning Group Today!
“Working with Geoff and his team was an easy and stress-free experience.”- Cheri M.