Why Do I Need Asset Protection?

Maybe you read an article about asset protection and want to learn more. Or maybe your attorney suggested you think about asset protection strategies. You are both curious and a little resistant. It may be hard to understand why you need asset protection. Understanding Asset Protection The first thing to remember is that assets need to be protected before any claims have been made. In fact, transfers made after a Read More

Why Hire an Estate Planning Lawyer?

Malcolm decided it was time. He knew he needed a Will and was thinking about writing it himself. I mean, how hard could it be, right? His friend, Peter, talked to him about why he needed to hire an estate planning lawyer. Using the Right Asset Protection Some estates greatly benefit from estate planning strategies that maximize asset protection. This is not an easy thing to do, though. Asset protection can backfire Read More

Disadvantages of Using an Irrevocable Trust

Maura was puzzled. She and her husband were finally thinking of putting together an estate plan. They had done some online research and stumbled across articles about irrevocable and revocable trusts. The irrevocable trust seemed to offer the kind of asset protection they wanted. However, she knew there had to be disadvantages to using any estate planning tool. What is an irrevocable trust? Every trust has at least Read More

Will Creditor Claims on Property Upset My Estate Plans?

Dan D. owned several businesses, including some with high potential liability. For example, his roller skating rink had been sued several times. His boat tours of the coast were enjoyable, but there was always the possibility of property damage, injury or even death. Some of his other business concerns carried fairly high levels of debt. In fact, any time someone owns property or a business, there is the potential Read More

Best Places to Establish a Domestic Asset Protection Trust

You may wish to protect your property from divorces, civil judgments, and creditors. One possible way to accomplish this is to use a Domestic Asset Protection Trust. However, only a handful of states allow this type of trust, and their laws vary. It’s important to research the best places to establish a Domestic Asset Protection Trust before setting one up. Domestic Asset Protection Trust Trusts are sometimes used Read More