Asset Protection Planning

Estate Planning

Asset Protection Planning

In today’s world, many people are concerned about protecting their assets from creditors. This type of planning, known as Asset Protection Planning (APP), should be considered by everyone. It is the extent of the APP that will differ among clients.

Some clients feel comfortable having a large umbrella insurance policy without doing other planning. Other clients may want to set up a California limited liability company to shield their assets from creditors. Yet other clients may want to establish a limited liability company in another state, such as Nevada, which has laws more beneficial to protecting assets from creditors than California.

Some clients are less worried about APP for themselves and are more concerned about doing APP for their children. APP for children can be done by establishing trusts for the children to own the assets
They will receive from their parents. Examples of these trusts include Heritage Trusts and Irrevocable Life Insurance Trusts.

The level of protection the client wants to achieve needs to be the goal of APP, and we assist our clients in reaching that goal.

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