Asset Protection

 
Those of you fortunate enough to have a good deal assets need a way to protect those assets from risk. Asset protection planning is a process by which you organize your assets, personal, business and/or professional --and employ legal tools to guard against risk of future creditors. Asset protection techniques are designed to deter potential creditors from going after you, and discourage them if they do, generally by making it difficult or impossible for them to take hold of your assets or collect on judgments against you.

There is a very fine line between legal asset protection planning and actions to defraud legitimate creditors, which are criminal. For that reason, it is essential to have an attorney guide you through the process. It is also a good idea to integrate asset protection into your estate and tax planning. Like a portfolio, asset protection should be diversified, don't rely on one method.