Asset Protection Planning
Asset Protection Planning Services For Clients Throughout Southern California
A basic legal principle most Southern California residents already know. If you lose a lawsuit and you have property that could “make whole” your judgment creditor, you will probably lose that property. If you don’t own the property, your the judgment creditor cannot get it. In the middle of this simplicity is the area of asset protection planning.
If you are a doctor or lawyer, you probably already know that your professional liability is not protected through a corporation. Even if you are not in a profession where there is professional liability is something you are personally responsible for, your assets can still be in jeopardy from a wide range of threats. What you may not know is that there is much you can do that will allow you to continue to benefit from your property while protecting it. You don’t have to give it away if you don’t want to, not to your spouse, children or anyone else. The idea is to protect your assets.
Asset protection is about leveling the playing field and getting a fairer result for yourself and protecting yourself from impoverishment if your estate has an “extinction level” event, usually a big law suit.
Often, when you are in a lawsuit or one looks likely, its too late to do as much, though talking to an Attorney won’t hurt, since some protection may still be possible without breaking the law. Taking certain actions after you are notified of a lawsuit may constitute a “fraudulent conveyance” and end up more trouble than its worth.
We asset clients with Domestic Asset Protection Trusts (DAPT), Family Limited Partnerships, Family Limited Liability Companies and other strategies that combined, work to protect families from potential future problems.
From my office in Tustin, I represent clients in Orange County, Los Angeles County and Riverside County. From wherever you are in Southern California, call toll free (866) 403-5294 or contact me by email to arrange a free initial consultation with an experienced Orange County Asset Protection Attorney.