Asset Protection Planning
An Overview of Asset Protection
Litigation in our society has reached a point where it now appears on the cover of major magazines. Not only are doctors and other professionals being sued, but business owners, real estate investors, and corporate directors and officers are at substantial risk for litigation and liability claims. With the onslaught of litigation and unpredictable judges and juries, preserving one's wealth is a major concern and should be an integral aspect of the estate planning process. Years ago, asset protection planning was a new concept that was not well understood and many attorneys viewed it with suspicion and as possibly unethical. Today, we know that is no longer the case. Over the past decade, asset protection planning has emerged as a new and challenging area of practice. The American Bar Association has even developed an Asset Protection Committee. The Florida Bar has annual seminars on asset protection techniques. An asset protection plan requires expertise in property law, domestic and international tax law, estate planning, trusts and estates, bankruptcy and debtor-creditor law. We have developed an expertise in these areas. With proper asset protection planning, your assets can be safeguarded from potential litigation and creditor claims.
Asset protection is not advisable to protect your assets from governmental obligations. For example, asset protection with respect to amounts due the Internal Revenue Service, Securities and Exchange Commission, Federal Trade Commission and other governmental agencies are beyond the scope of the asset protection services we perform.
Singer & Associates has developed an expertise in the various areas of law that are a prerequisite for conducting effective asset protection planning. Our attorneys have over 34 years of experience in this area. They will conduct a thorough analysis of each of your assets, your liabilities, status of your estate planning and overall family goals. Based on the foregoing, an effective plan can be structured.
You can get started by contacting us and requesting a professional analysis of your assets and potential liabilities.
What is Asset Protection?
Limited Partnerships / Limited Liability Companies
Offshore Asset Protection Trusts
Offshore Trusts Have no Tax Costs