Now is the Time for Asset Protection Planning
Many things in my law practice run in spurts -- just like things in our daily lives. I may go a whole year without having a client buy or sell a business, and then several clients are engaged in business sales all at once.
This past month I have a had a disproportionate number of inquiries from people across the country who are asking about asset protection options after they have had a lawsuit filed against them -- and even after a large judgment has been entered. About a week ago I spoke to someone who had lost a court case; a judgment had been entered against him; he had appealed; and then he had lost the appeal. Now he was thinking about protecting his assets. Guess what? I was not able to offer any good options for him.
There are situations in which certain legitimate asset protection alternatives could still be available to someone with a judgment against them. But your options decline drastically once you are sued.
As I have mentioned many times before, the time for asset protection planning is right now, before any problems arise.
