HOMEFAQ'sCOMPANYLIBRARYINDUSTRY LINKSCONTACT USSITEMAP
 
 

Does an Asset Protection Plan make sense for me?

Our general rule is that an Asset Protection Trust may be appropriate where a client's net worth is $500,000 or more. Over $1 million you should definitely be looking at the benefits. Remember, houses, cash in the bank, investment portfolios, insurance policies, retirement savings (401k's, IRA's, SEP's etc.) all contribute to your net worth. Professionals such as doctors, lawyers, stock brokers, high level executives and owners of closely held businesses may find asset protection plans particularly beneficial. Estimated costs will be provided after discussing the client's specific objectives and requirements. There is no one structure that meets every client's needs. These are highly customized, technically demanding plans that require substantial knowledge and practice to implement properly.

Our office will typically provide services tailored to the client's unique requirements. These services may include: consultation with the client, preparation of a draft document for discussion, preparation of final legal documents, and identification of a reputable licensed foreign trustee. Other services may be applicable, including the fees to establish foreign or domestic entities to hold and manage trust assets.

In many instances our office can assist clients in establishing local offshore bank accounts, brokerage accounts and credit cards secured by those accounts for the trust. We can also form both domestic and offshore business entities in all major jurisdictions. The costs for these services are on a case-by-case basis.

 

What is a Trust?

What is the purpose of an Asset Protection Trust?

Do we want a Foreign or Domestic Trust?

What is a Domestic Asset Protection Trust?

What is a Foreign Asset Protection Trust?

Are my life long accumulated assets susceptible to creditor attack?

How does an Asset Protection Trust operate?

Who manages or administers the trust and the trust funds?

Does an Asset Protection Plan make sense for me?
 Image
 

Asset Protection Planning Structures

Whether your net worth places you in the wealthy, or simply comfortable categories, the fact is that you own valuable property that you want to keep. For that reason, it is well worth your time to meet with a qualified attorney to discuss protecting your assets. Not surprisingly, since everyone has different assets, there is no panacea, no "one size fits all" protection plan that will adequately safeguard your property from creditors. Rather, effective planning requires a proper fit between what you should protect and how you should protect it. The structure of an asset protection plan can be relatively simple or highly sophisticated, depending on such variables as:

  • whether you are in a high-risk profession: one that is...

    Read more