While many well-intentioned business owners and professionals are concerned about the possibility of a potential lawsuit, very few have asset management plans in place, leaving them vulnerable to legal actions and often times significant losses. Advanced asset protection strategies can help protect your assets in the event that you or your business are targeted in a lawsuit, victimized by creditors, or involved in divorce proceedings.
Nobody expects to be sued. Just ask the 20 million people involved in lawsuits every year.
Asset protection should help you accomplish two primary goals: protect your assets while you are alive from predators and protect your children’s inheritance against predators and creditors after you are gone.
We recognize that the best asset protection plans are the result of collaboration with our clients, their advisors, and other professionals. We spend the time to understand your concerns and goals while working closely with your advisors to design and implement a comprehensive, customized asset protection plan.
Asset Protection Strategies
From personal injury suffered on your premises, to liabilities arising from malpractice or misconduct, business owners must be aware and prepared for all types of circumstances. While it is impossible to control the unforeseen and unfortunate, you can minimize the risk associated with the outcomes of these events.
The first step to protecting your assets is to know your options. Below are a few of the advanced strategies our attorneys utilize to help you protect your most prized possessions.
Business Entity Formation
Forming a separate and distinct legal entity reduces your personal liability, protecting your assets from creditors and litigation. From establishing proper business structure, to ongoing entity maintenance, our attorneys can help you protect what matters most.
Trust Preparation
Establishing trusts places control of your assets in your own hands and out of harm’s way. Ensure you are protected from creditors and the jurisdiction of the U.S. courts so your assets are disbursed the way you intend.
Using Leverage
There are times when it makes sense for business owners to leverage their companies in order to protect their assets from lawsuits and predation. Our attorneys will evaluate the economic circumstances surrounding your business and help you determine a course of action to insulate your assets.
Asset Protection Services in Chino
What is Asset Protection?
Asset protection is a form of wealth management, helping preserve your personal and/or business assets so that they may be distributed the way you choose to whom you choose, and out of reach from creditors, debtors and lawsuits. Talk with an experienced asset protection attorney about your long and short term financial goals to come up with an asset protection plan that will be most beneficial for you.
Mitigate Risk to Personal Liability
In order to ensure that personal assets for corporate officers, directors and business owners are not at risk, it is important to have a thorough personal liability plan in place. Some of the risk can be minimized through proper business formation; however, it may be necessary to have other plans and strategies in place in the event of a lawsuit, bankruptcy or debt collection.
Protect Yourself Against Lawsuits from Former Business Partners
Proper business formation can also help alleviate some of the risk for potential lawsuits between business owners or partners. At the formation of the business, when both parties are cordial, terms can be put into place in the event of a disagreement. However, the protection under business formation can only reach so far. Or what if the business has already been formed? Asset planning attorneys are experienced in forming plans to help mitigate the risk of lawsuits between business owners and partners.
Consult With an Experienced Asset Protection Attorney Today
When you are ready to talk to an experienced attorney about your asset protection needs, we will be here for you. Reach out to us today online or by telephone at (909) 334-1425 for a FREE CONSULTATION.
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