Asset Protection

Before discussing what asset protection services I can provide, it may be helpful to briefly discuss what the phrase "asset protection planning" means.

Traditional estate planning usually involves all or a combination of (1) a last will and testament, (2) a trust, (3) guardianship instruments for any dependents or minor children, and (4) powers of attorney for both healthcare and property. These estate planning documents, when properly executed and updated as needed, provide clarity as to a deceased person's last wishes. In other words, these documents are forward looking, with their greatest impact occurring in the future from their execution date.

Asset protection planning, on the other hand, concerns the present and is intended to protect assets during one's life. The goal of asset protection planning is to protect those assets from being seized or dissipated by creditors. A few examples of asset protection planning include:

• prenuptial agreements

• post-nuptial agreements

• certain trusts, like spendthrift trusts

• liability insurance

• strategic decisions concerning business structure.

Even though asset protection is all about protecting assets in the present, before engaging in any asset protection the future must be considered. ....

While asset protection planning is about protecting

What is asset protection?