The chief objective of asset protection and wealth preservation planning is to deter asset attachment by claimants and to maintain family privacy. Since the incentive to bring suit is generally motivated by financial gain, minimization or elimination of such incentive may enhance the client’s negotiating position for a favorable settlement. We also coordinate estate planning objectives with asset protection and wealth preservation techniques while maintaining control over the asset while providing for the heirs. The strategies often involve the creation of trusts and business entities, as well as the effective titling of certain assets and careful use of the beneficiary designation.
There are multiple techniques available for the protection of virtually all forms of assets: homes, investments, businesses, vehicles, and more. However, the Firm does not implement asset protection in an attempt to “hide” assets and, therefore, our representation is not suitable for families intending to defraud creditors or authorities, or to evade legitimate responsibilities. Note that these techniques generally are ineffectual when claims pre-date the inception of asset protection planning.