Asset Protection Strategies/Alternatives

There are many factors to consider in deciding whether a particular jurisdiction is or is not favorable from an asset protection standpoint.  Certain states and foreign countries are clearly better than others.  There is a constant tension between the legal rights of creditors and debtors; and each jurisdiction is to some extent more or less

A so-called umbrella policy can provide substantial insurance coverage at a modest cost.

There are many reasons you need to protect your assets.  We often focus on business and professional risks, economic problems, divorce and other catastrophic events.  But disaster frequently strikes from much more routine events — like an auto accident.

Let’s say you

It is generally estimated that more than half of all Americans have absolutely no estate planning documents.  This can potentially create a lot of hassles for your loved ones.

But even those Americans with very good estate planning documents often fail to focus on asset protection for their children and other beneficiaries.  If you simply

It is clearly better to engage in asset protection planning before you have any creditor issues.  But planning after a lawsuit has been filed — or even after a judgment has been entered against you — is frequently possible.

State fraudulent transfer statutes vary in a number of respects.  But as a general rule, a conveyance

In a recent survey of millionaire baby boomers (by U.S. Trust), less than half of the respondents said it was important to leave money to their children when they die.  That is according to an article in last Friday’s Los Angeles Times by Walter Hamilton.

But here is an important reminder:  asset protection planning (and estate planning)