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Asset Protection

 

You have worked hard and spent your career building your business into the pride of your professional life.  Unfortunately, business owners, professionals, and property owners should be aware of the risk associated with conducting their businesses due to risks associated with lawsuits, creditors, or fraudulent predators.

We live in a litigious world. Some estimates place the number of lawsuits to be filed this year in state courts at over 15 million.  That works out to one new lawsuit every two seconds (or, one lawsuit for every 12 adults in the United States).  The risk and potential liability for business owners is not going to decline, therefore the question for business owners is how to protect their business, their family, and in many cases, their life’s work.

Limiting exposure to potential creditors is a highly advisable consideration for business owners and professionals.  Asset protection is not “hiding” assets, but rather is the implementation of ethical strategies to legally protect clients’ assets and holdings from potential creditors.  Proper asset protection planning should be in advance before issues with creditors arise. 

The Walls Law Firm has represented professionals, small business owners, and other business clients in creating asset protection strategies designing to help protect assets and preserve wealth.

As with all clients, the precise strategy implemented will vary depending upon the scope of the assets, the potential liability or exposure of the business, tax consideration, and the client’s goals.  By utilizing techniques such as domestic asset protection trusts, domestic business entity formation, and pre and post-martial agreements, we can design an asset protection plan that is effective, ethical, and legal.