Definitely! In fact, a small business probably needs asset protection more than most. Too often clients make that frantic call, “can I get sued” after a business transaction has already gone bad. Anyone can sue, if they are willing to pay the filing fees. So, yes, small businesses need asset protection. Businesses can expose owners, and their assets, to risk The reality is, anyone who starts a business has exposed himself or herself to risks, both financial and legal. Of course, there are … [Read more...] about Do Small Businesses Need Asset Protection?
Asset Protection Planning
When people decide to incorporate asset protection into their comprehensive estate plans, the reason is to secure their family wealth and guard against risks to their assets. When assets are properly structured, you can be sure that your family wealth will be protected for future generations. Family wealth trusts provide asset protection in a way that is not only effective, but very flexible. What is a Trust generally? A trust is basically an agreement between three parties: the property … [Read more...] about Do Family Wealth Trusts Provide Asset Protection?
Asset protection is a very important part of estate planning. Protecting your assets from any type of creditor is crucial in preserving your estate for your heirs. Anyone who obtains a judgment against you, not only a bill collector, is considered a creditor. We need asset protection planning as a part of our overall estate plan for many reasons. Here are just a few. The purpose of asset protection Asset protection refers to analyzing your assets and arranging, or rearranging, them so that … [Read more...] about Why We Need Asset Protection Planning
Protecting business assets from lawsuits is something all business owners should consider. Asset protection simply means shielding your asset from creditors of all kinds. Selecting the most effective, and legal, methods to protect your assets is a concern for everyone, especially those who own their own business. But, remember, that creditors are not only bill collectors, but also anyone who obtains a legal judgment against you. That includes lawsuits. The best way to prepare for the … [Read more...] about Protecting Business Assets from Lawsuits
Like Benjamin Franklin said, “if you fail to plan, you are planning to fail.” If you want to be successful at most things, you must have a plan. The purpose of planning is to create the best circumstances you can for yourself, in the future. In order to see that your future goals are achieved, planning is a critical process in developing those goals. Planning generally includes both short-term and long-term goals. This is just as true in finance, as it is in other areas of your life. … [Read more...] about Long Term and Short Term Financial Goals
The purpose of asset protection planning is to evaluate your assets and arrange them in a way that they can be protected against loss. Transferring assets to various types of trusts and establishing retirement accounts are some common strategies for asset protection. However, if your protection plan is not executed correctly, you may find yourself accused of creditor fraud or tax evasion. Understanding what a fraudulent transfer is, as well as how to avoid it, is the first step to keeping your … [Read more...] about Free Report: Avoiding Fraudulent Transfers in California When Protecting Your Assets
If you want to protect your assets for your beneficiaries in the future, then having an asset protection plan is extremely important. The purpose of asset protection planning is to evaluate your assets and arrange them in a way that they can be protected against losses such as debts and legal judgments. Transferring assets to various types of trusts and establishing retirement accounts are some common strategies for asset protection. However, if your protection planning is not done right, you … [Read more...] about What are Fraudulent Transfers?
One of the first steps in starting your own business is determining the type of business entity you intend to create. There are several different business entities, and the type you choose will have an effect on the tax consequences your business will face. Possible business entities include sole proprietorships, partnerships, corporations, S corporations, and Limited Liability Companies (LLCs). If you are considering establishing a C corporation, which could possibly be treated as a “closely … [Read more...] about The Tax Implications of a Closely Held Corporation
Asset protection is an important part of general estate planning. Being able to properly shield your assets from creditors is crucial in preserving your estate for your family. Creditors include, not only bill collectors, but anyone who obtains a legal judgment against you, such as with lawsuits. Asset protection can be tricky, though. Here are a few of the most common mistakes that people make when they attempt to protect their assets. Seeking the advice of an estate planning attorney can help … [Read more...] about Free Report: Common Mistakes in California Asset Protection
A common concern for many clients is asset protection, which means shielding your assets from creditors. Not all creditors are bill collectors. If someone obtains a judgment against you, as the result of a lawsuit, your assets will also be at risk. So, if you are wondering, “how can I protect my assets from lawsuits,” asset protection planning is the way. Which of my assets are at risk? Asset protection can be a very complicated area of the law, as it is governed by both federal and state … [Read more...] about How Can I Protect My Assets from Lawsuits?