It’s sad, but true: In today’s litigious society, any number of people may want to take hard-earned assets away from you and your children. This is especially true if you happen to be landlords, physicians, attorneys or business owners. That’s because statistically these professions are subject to an inordinate number of lawsuits. Over 19 million new lawsuits are filed in the United states every year, many are frivolous and many are settled out of court. We don’t see the trend declining but rather growing as it has done over the past few decades. Children who have been divorced or carry a large amount of debt are also extremely vulnerable to lawsuits.
In addition to our asset protection expertise in estate tax planning, our attorneys are experts at working with clients to protect their assets against potential litigation, judgments, liens and fraud. By utilizing numerous legal techniques and strategies available we are able to preserve our clients’ wealth and safeguard their assets from the risks of divorce, litigation, and future creditors. Such techniques may include dynasty trusts, limited partnerships, childrens’ trusts, and domestic and offshore trusts established in debtor-friendly states such as Delaware and Alaska or other offshore jurisdictions.
Shielding Assets from Creditors
Our expertise includes assisting clients in arranging their finances, real property and assets in a manner that minimizes any potential litigation exposure. We carefully analyze your insurance needs, create estate plans and organize your investments and business entitities so that you are able to enjoy and practice your profession with minimal interruption. Assets owned by a properly structured trust, foundation or other entity are generally not subject to claims and also provide the additional benefits of removing those assets from the taxable estate.