Planning for your Asset Protection predominantly involves the review of your assets, your individual and occupational risks and the necessary financial objectives to produce a legal wall between a creditor and your money through the use of a mixture of estate planning and business tools. A well-developed asset protection plan achieves three basic functions; the actual deterrence of a lawsuit, leverage in the negotiation of settlements and most importantly, the placement of your assets outside the reach of your legal adversary. Asset protection planning is preferably done before a lawsuit; however it may be executed at any time. Every person’s situation is different, so you really should call and talk with a knowledgeable professional to assist you in understanding all the details, or you may of course confer with our asset protection specialist.
Why do you need it?
If you as an individual or family have more than $250,000 USD in assets you want to keep, then you really should look into a wealth protection plan suitable for your level of risk, assets, fears and comfort level. There are many classifications of people considered susceptible to lawsuits such as owners of a business, parents, real estate developers and owners, investors, medical physicians and other similar type professionals. Each come with an increased likelihood of being the target of a major lawsuit and therefore has a greater need to employ an asset protection plan.
Three Reasons You Won’t Even Get Sued
Financial Privacy – When set up properly, the potential legal opposition won’t even be able to find your assets. If they can’t find anything worth “winning”, they are less likely to sue in the first place.
Protection Plan – When you have everything set up legally and properly before a lawsuit begins, the opposition knows the chances of them ever collecting if they win is close to nil. This gives you massive leverage to quickly settle out of court and avoid costly litigation. With your assets protected, any potential legal opponent or creditor has to realize that you are not an easy mark and they must then make a decision on how much money, time and effort they are willing to spend in pursuing you.
Offshore Trusts are Strongest – Once you have chosen to institute an offshore asset protection plan, you will be gaining the benefit of the most favorable laws on Earth. A litigator that pursues your money will meet with virtually impossible measures. You may now take full advantage of all of the foreign jurisdiction laws that give you close to bulletproof security.
Your Asset Protection Plan
Your asset protection plan should be a proactive legal action, which guards your assets from potential litigators, creditors, lawsuits, divorce, or judgments. This plan will involve a sequence of lawful procedures that may prevent a lawsuit, supply settlement negotiation muscle and ultimately avoid the abduction of your assets should you receive a judgment.
The core of your asset protection plan is determined through the legal and professional assessment of your assets, financial situation, and risks in addition to your family or personal objectives.
For maximum benefit, your plan should be in place before it is ever needed; however, a few options are available, which may produce a much more favorable arrangement after a legal cause of action. Asset protection is considered the grandest form of monetary insurance and should ideally be executed before it is ever needed. Plans are generally perceived as more effective for debtors who have the vision to implement them prior to a lawsuit.
If you suspect (or know for sure) you are about to be sued, do not hesitate a moment longer. Look into your options at once; the sooner you take action, the more positive the result will be.
Your asset protection plan will take your entire situation into consideration. This will include the financial and legal mediums ranging from state homestead protection laws, various insurance policies, business vehicles and any estate planning tools. In more complex cases this will engage several legal jurisdictions, including foreign countries.
The concept here is to discourage a litigator from coming after you in the first place by making it complicated, if not impossible, for your assets to be seized should you lose a lawsuit resulting in a judgment. With the proper plan, your lifetime of accumulated wealth, real property, savings, investments, even future income is protected.
If you have at least $250,000US in assets and are interested in finding out how to protect it, It starts with a phone call, a free consultation, to find out your point ‘A’ and where you want to go.