Asset protection, put simply, is the art of protecting your hard-earned assets from a variety of threats. This can include protection from creditors, shielding assets from unruly or irresponsible family members, tax-planning structures and mechanisms, or other strategies designed to protect what you own, and such methods typically involve clever use of trusts and business structures. While asset protection is dynamic and constantly evolving, the strategy behind asset protection is usually the same: to increase your legal defenses, you must often relinquish some control over assets.
People often incorporate asset protection into their overarching estate plan, to help shield assets during life and ensure that they are distributed in an orderly and efficient manner upon death. Even if asset protection may not be your largest concern in your estate plan, some level of protection are an integral part of any plan for the future.
Here you will find it helps to have a competent attorney comfortable with trust and business planning to advise you on the manner in which you could best protect your property during your life and after. Zapalac Law Firm offers asset protection consultation in tandem with other estate and business planning services, as such protection concerns are evermore becoming a normal part of the planning process for the modern family.