Protecting Assets from Lawsuits and Creditors
As a Business Owner, Real Estate Developer or Investor, Physician, or Professional in a High Liability Field, are you concerned about lawsuits?
What is Asset Protection Planning?
Proactive asset protection planning is a systematic arrangement of your assets to minimize the possibility of creditor or predator attacks. Successful individuals are targets for lawsuits regardless of whether the lawsuit is justified. Even if a lawsuit is unjustified, you may spend substantial sums of money defending yourself. Even if a lawsuit is frivolous, a jury might disagree, subjecting your personal wealth to a court-ordered judgment against you. Because so many people are concerned about the threat of lawsuits, asset protection planning is a rapidly expanding area of the law.
We provide guidance to individuals and families who face high-risk situations and then design effective asset protection plans to guard against potential future liabilities. With years of experience in all areas of asset protection law and an extensive network of leading financial institutions and professionals world-wide, we are particularly skilled at establishing and managing asset protection trusts and LLCs. The techniques and strategies you can use include:
- Domestic business entity formation, including LLCs and corporations
- Wyoming and Delaware LLCs
- Nevada Domestic Asset Protection Trusts
- Offshore Asset Protection Trusts
- Equity stripping and asset isolation strategies designed to minimize the risks posed by potential predators and protect your privacy.
Who Benefits from Proactive Asset Protection Planning?
If you are a physician, surgeon, business owner, real estate investor or developer, attorney, CPA, or member of a profession that is subject to an unusually high number of lawsuits, you may benefit from proactive asset protection planning to minimize liability. If you would like to create an asset protection plan, it should be implemented before a potential creditor arises. Once a liability generating event occurs, it is too late, although it is possible to protect against future events. As a result, individuals in high risk professions often seek guidance early in their careers.
What Should You Expect During the Planning Process?
The first step in the planning process is to call our office at 630-871-8778 or request a call here. Our staff will ask you a few questions about your planning needs and let you know how our firm works. If you would like to schedule an initial meeting with an attorney, our staff will send you a new client information packet, which includes instructions about what type of information we will need to assess your situation.
The packet includes a Personal Information Worksheet, which will help you start the information gathering process. We request that you fill out the Worksheet and return it to our office prior to your initial meeting. Completing the Worksheet prior to the initial meeting allows you to get the most out of the meeting.
At your initial meeting, the attorney, either Bill Deitch or Kirsten Izatt, will take a hard look at the risk you face and the assets you would like to protect. If the attorney has adequate information before the meeting, the attorney will be able to address your situation and suggest possible solutions. If your case is particularly complex, you may retain us to design a personalized plan to address your asset protection issues.