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Asset Protection Strategies

Safeguard Your Finances with Our Estate Planning Lawyer

When it comes to your finances, it is always best to be proactive. You may think your assets are safe, but the truth is that you could lose your financial stability at the drop of a hat if you don’t have any defenses in place. Divorce, civil lawsuits, bankruptcy, and a host of other sudden situations could put your assets at risk. In order to protect your earnings, invest in asset protection now and use proven strategies to secure your future.

Our Estate Planning team at Mathur Law Offices, P.C. has the experience and skills necessary to help you protect your assets. Since 1999, our firm has been helping individuals and families with a variety of legal needs, and we want to help you too. We understand the value of a stable financial portfolio, and we want to help protect your assets before it is too late.

To schedule a case evaluation, call our firm at (888) 867-5191!

Strategies for Asset Protection

There are many different ways to protect your assets. Depending on your financial situation, the types of earnings and plans you have, and a host of other factors, we can work with you to determine the best tactics for your circumstances. Some strategies may include:

  • Using Federal and State Laws: There are a number of laws in place that can help you protect your assets from creditors and judgements. This includes contributions in IRAs, which are generally protected from bankruptcy. Investing in the right accounts and plans can protect you if the worst should happen.
  • Asset Protection Trusts: While this practice used to be regarded with speculation, it is perfectly legal to protect your assets by opening and maintaining an offshore account. Check with your attorney to ensure that your account abides by state laws and other applicable regulations.
  • Accounts-Receivable Financing: For business owners, borrowing against the business’s receivables and putting that money into a non-business account could help protect it from creditors.
  • Protect Your Equity: By stripping your equity and putting it into assets protected by state laws, you could protect your funds from potential lawsuits.
  • Family Limited Partnership (FLP): By transferring your assets into an FLP, you protect those assets from creditors. However, the assets will still be under your control as the partner of the FLP, and thus yours in every other respect.

Simple Protection Tactics

These tactics are a bit more advanced, but there are other ways in which you can protect your assets more simply. You could transfer assets to your spouse’s name, though this would prove the opposite of beneficial if you divorce. It would also be wise to put more of your money into retirement funds or other investments if they have unlimited protection.

If you are concerned about lawsuits, you might also consider taking out an umbrella policy to provide added protection from personal injury claims. Also, keeping your personal and business finances separate can protect you from a number of different problems.

In order to create a financial plan and employ the right protection strategies for your situation, get in touch with our attorneys. We work with financial specialists and other experts who understand what tactics work in asset protection and we can help create a custom financial plan for you.

Contact Mathur Law Offices, P.C. to get started.

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