Unfortunately, we live in a highly litigious society and people today seem to sue one another over just about anything. You never really know what a jury might decide, regardless of how frivolous a lawsuit may appear. Even some of the people you love the most may need protection from themselves, such as those who suffer from drug or alcohol dependency, or who lack the maturity to handle a large inheritance on their own.
All of this helps explain why Asset Protection Planning is such a rapidly growing area of the law and why it is so important for you to have a plan expertly tailored to your specific needs. Business owners, physicians, dentists, other professionals, real estate owners, investors and other individuals of high net worth must always be concerned about the potential liability against their personal assets arising from the operation of their business or professional practice or ownership of their real estate.
There is a multitude of potential creditor claims and because of the tremendous arsenal of creditor remedies, doctors, dentists, other professionals, business owners and all persons of some wealth have to properly structure their assets so that they can be preserved and protected. The key element here is proper planning and preparation in advance, which includes not only devising and developing an Asset Protection Strategy, but also properly implementing it with the help of a skilled and experienced attorney.
At the Bernstein Law Group, PC, we provide the guidance that individuals, families and owners of closely-held companies need in understanding the risks they face. We then design creative asset protection plans to guard against potential liabilities. The techniques and strategies we can use to protect your hard won assets and legacy include:
Offshore and domestic business entity formation
Domestic trusts designed to safeguard assets from predators
Offshore trusts, placing your assets beyond the jurisdiction of U.S. Courts and out of harm’s way
Equity stripping and asset isolation strategies to minimize the risks posed by potential predators and which ensure your privacy