Asset Protection Attorney Serving Los Angeles, Woodland Hills, Encino, Calabasas
With an estate planning attorney, you can meet all your financial goals. Asset protection is important because it is the fruit of your entire life’s hard work and the number of cons seems to be ever increasing – it doesn’t hurt to take precaution. More and more people are finding themselves the victims of such cons. In fact, these people are using the legal system against the rightful owners to deprive them of their life’s work. In fact, in the United States alone, 19 million law suits are filed every year – most of them settle for sums which are larger than their actual liability.
Business owners, large estate owners and professionals such as doctors, accountants, dentists, should make sure that they are aware of the difficulties associated with their profession and the legal implications of the laws thereof. Thus it is essential to seek the services of an experienced asset protection attorney serving Los Angeles, Woodland Hills, Encino, Calabasas, if you happen to live here.
There are loopholes within every legal system and unfortunately it will take an amendment to prevent these individuals to take the advantage. But until that is done, you must make sure that you assets are protected from any threats, which seem to have steadily risen in the last few years.
If you are a professional working with people, you should be aware of the following vulnerabilities which lead to these, such as:
- Misconduct liability
- Lawsuits filed by former business partners
- Personal injury which has been suffered on your premises
- Guarantor liability (for a debt taken by another)
- Corporate directors and officers liability
Asset protection is making sure that there are no loopholes that enable any person to pick out of your pockets. It is not about giving in to fear but to making sure that your assets and your family is protected no matter what. As an asset protection attorney serving Los Angeles, Woodland Hills, Encino, Calabasas, I will make sure that you implement some sound and proven legal strategies that help safeguard your assets.
Insurance alone cannot help you protect against liens, frauds and other such threats. An asset protection attorney is able to give tips and tricks to help keep your wealth protected and safe from such threats without having to depend on any insurance agency. You can put your money in trusts and other arrangements that help keep them safe for the long haul.
However, no two situations are alike and therefore the strategies that are implemented are different for different clients. It also depends upon the size of the assets and the profession the person is into. It also ensures that there is privacy and confidentiality in the arrangements.
Building a trust is the first step to taking advantage of an asset protection system in most cases. There are generous pay offs out of this type of arrangement. There are two ways to do this – first is to set up the trust with a foreign trustee. The trustee will be protecting the assets of the company on behalf of the company. The other method is to keep the assets in your own country under the foreign law. These two methods always work effectively.