Statistics show that you and I will be sued 2 to 3 times during our lifetime. Business owners and professionals like doctors, lawyers and CEO’s have a 1 in 3 chance of being sued over the next year alone...
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Legal and Ethical Asset Protection
Asset protection is the process of lawfully, intelligently and ethically structuring the ownership, management and control of personal and business assets to safeguard them from potential risk. Asset protection is not a plan based on secrecy to hide assets, defraud creditors, launder money or to evade taxes. It is a process based upon legally establishing, coordinating and then transferring your assets into one or more properly formed, managed and controlled legal structures or entities with the goal of minimizing your exposure from creditor claims and lawsuits while at the same time, maximizing the protection of your assets. Taking into consideration local, national and international issues involving conflict of laws, full faith and credit, jurisdiction and tax, and to use concepts of layering and integration of entities to provide you, your family and business with the very best protection possible.
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What Is the Difference between Estate Planning and Asset Protection?
The two go hand in hand. A properly designed and implemented estate plan will, at the time of your death, facilitate the transfer of your wealth to your loved ones and minimize, or eliminate, estate death taxes. As indicated above, in addition to protecting your assets and providing for your beneficiaries after your death, an asset protection plan will also offer you protection of your assets while you are alive.
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