QUESTION
How can I get estate asset protection?
Asked on Oct 01st, 2013 on Estate Planning - California
12 ANSWERS
Nevada has the best asset protection trust in the country. Some other states have legislation, too. If you use a Nevada trust, you can have your assets protected two years after transferring them into the trust and still maintain control of them.
Answered on Oct 04th, 2013 at 11:08 AM
Corporate/Business Attorney serving Beachwood, OH
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Christine Sabio Socrates Attorney at Law
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That question is too general to answer. I recommend you talk to a qualified estate planning attorney who can properly evaluate your particular situation and recommend an asset protection plan for you.
Answered on Oct 02nd, 2013 at 11:17 AM
Divorce Attorney serving Bingham Farms, MI
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Gottlieb & Goren, P.C.
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From whom or what are you seeking protection?
Answered on Oct 02nd, 2013 at 10:13 AM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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A very complicated question involving substantial legal work by an expert. Here's an answer that I hope doesn't seem too flip: if you don't want to spend the legal fees to afford professional asset protection planning, then you don't have an estate large enough for asset protection to be an issue. And, protection from what? Lawsuits? For everybody other than the One Percent, the answer is, "buy insurance." Buy as much insurance as you're comfortable paying for. The more the insurance company has "on the table," the more serious they are about defending claims against you. Your regular auto and home policies, business insurance if you own a business, and a good umbrella liability policy should be as much protection as you need. If you're worried about "frivolous lawsuits" (much less common than advertised) then the feature of an insurance policy that matters to you is that the insurance company handles the cost of defending against claims. And insurance companies are really good at defending against claims. Obviously my opinion, rather than a legal opinion, but there it is.
Answered on Oct 02nd, 2013 at 4:05 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You need to talk with a local estate planning attorney. There are so many questions that need to be asked and so many issues to be addressed that it cannot be answered over the internet. It might be as simple as forming an LLC. It could be as complicated as forming a Cook Island Trust, with a bunch of LLCs. It may be that no matter what you do, you will be at risk. So talk with a local attorney.
Answered on Oct 02nd, 2013 at 3:37 AM
Business Entity Formation Attorney serving Salt Lake City, UT
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Fetzer Booth Mountain West Law
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There are several ways to protect your assets. Utah has recently revised its Asset Protection Trust statute. The revisions make the statute one of the best domestic asset protection trusts available in the US. There are other ways to try to protect your assets, such as LLCs. You should speak with an estate attorney to design an asset protection plan for your estate.
Answered on Oct 02nd, 2013 at 3:09 AM
Step one: go visit with an attorney specializing in asset protection planning.
Answered on Oct 02nd, 2013 at 3:08 AM
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I urge you to speak with an estate planning attorney about what you are trying to achieve and then you can assess your options. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Oct 02nd, 2013 at 3:03 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Obtain the assistance of an estate planning lawyer to prepare a trust for you and transfer you assets into the trust; an estate plan should include a trust, a pour over will, power of attorney, advance healthcare directive, and transfer documents into the trust.
Answered on Oct 01st, 2013 at 4:39 PM
You will need a trust fully funded with the assets of your estate.
Answered on Oct 01st, 2013 at 4:35 PM
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Much more information is needed. You need to meet with an estate planning attorney to determine what is best for you and your situation. Make an appointment to discuss your options. At James Law Group we make every effort to respond to you quickly and efficiently. This means we may be responding to you from a mobile device. As you know, responding on these devices can result in typographical errors that my otherwise not occur. In order to provide this extra service, please be aware of this and excuse any errors that may be caused by responding in this forum. The content of this message is protected by attorney-client privilege.
Answered on Oct 01st, 2013 at 4:25 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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The answer depends on what you mean by asset protection and how far you are willing to go in order to get it. Asset protection requires the assistance of an estate planning attorney. More facts are needed to go beyond this.
Answered on Oct 01st, 2013 at 4:25 PM