Asset Protection

The goal of asset protection is to limit exposure of assets (both personal property and real estate) to the potential claims of future creditors. Asset protection strategies should not be confused with estate planning techniques or legal strategies for dealing with existing creditors.


There are a number of legitimate asset protection techniques that can be used to provide an additional level of protection against the claims of future creditors, including (but not limited to) the following:

  1. Liability Insurance

  2. Annuities and Retirement Plans

  3. Homestead Exemption

  4. Limited Liability Companies (LLCs)

  5. Irrevocable Trusts

One of the more important things to keep in mind about asset protection is that these strategies must be put in place before a creditor asserts a specific claim. An asset protection strategy that is implemented after the fact may be considered a fraudulent transfer and any potential protection will be lost. Although no asset protection strategy is guaranteed to work in every situation, different strategies, especially when used in combination, often can provide an additional level of protection from the claims of certain future creditors. Implementing an appropriate level of asset protection is something that should be done sooner rather than later.


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