Asset Protection

Wednesday, August 7, 2019

Asset Protection Manifesto

Almost everyone is aware that an auto insurance policy must be purchased before you are involved in an accident – you cannot buy a policy after you cause an accident.  Nevertheless, people seldom engage in serious Asset Protection Planning before becoming involved in a lawsuit or other potential liability.  That is just a fact.

To be truly effective, an Asset Protection Plan must be implemented years before the incident that gives rise to liability occurs.  However, given the unfortunate fact above, one should not just “throw in the towel” and accept (many times wrongly) that there is no way to protect one’s assets after the occurrence of such an incident.
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Friday, January 5, 2018

When is the best Time to do Asset Protection Planning?

Many if not most potential client inquiries regarding asset protection planning are crisis-driven.  An accident has occurred or a lawsuit of some kind has been initiated against the client.  Faced with the reality that a negative judgement will wreak havoc upon his finances, the potential client seeks advice from an experienced asset protection lawyer.

Unfortunately Fraudulent Conveyance laws make transfers under such circumstances voidable against current, known creditors and subject to statute of limitations requirements, even future unknown creditors.  Therefore some potential clients are discouraged from doing asset protection planning and simply "roll the dice" with respect to the current litigation and hope to win the lawsuit to avoid the financial loss.
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Tuesday, March 29, 2016



Most people are aware that ERISA Qualified retirement plans are exempt from judgments.  The problem, of course, is that there are many rules, regulations, and limitations on ERISA plans such as 401k, 403b, etc. plans.  However, for many clients, a California Statutory Private Retirement Plan works very nicely.

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Wednesday, March 16, 2016

ARE YOU A PANTHER OR A BRONCO? (What the Super Bowl Teaches us about Asset Protection Planning)

No doubt about it, Football is America’s favorite spectator sport.  I read somewhere that the Super Bowl 50 broadcast was the most-watched television event ever, with over 160 million viewers.  And, I must admit that I love football and have watched almost all of the Super Bowls!


This year’s game started me thinking of something that relates to my profession as an Estate Planning and Asset Protection attorney.  In retrospect, it was easy to get caught up in the excitement of the 17-1 Panthers, with their great quarterback Cam Newton, and their explosive offense.  But, now that the game is over, I am again reminded of one of football’s simplest, but most important axioms – GREAT DEFENSE BEATS GREAT OFFENSE!

 So… are you making sure that you are playing great DEFENSE, namely practicing effective Asset Protection Planning? 

Are you familiar with the recent US Supreme court ruling which held that inherited IRAs are not protected from creditors?  Do you know what you can do to protect those inherited IRAs?

Do you know that a Private Retirement Plan does not have annual contribution limits, that virtually any kind of asset can be contributed to the retirement plan, and that there is no requirement to include employees or even spouses in the company’s plan?  And, best of all, a Private Retirement Plan is completely exempt from creditors and judgments, including Bankruptcy, and does not run afoul of fraudulent conveyance statutes?

Would you be able to use a Qualified Personal Residence Trust (QPRT) to protect the equity in your home? How about a domestic Self-Settled Asset Protection Trust?

These are all defensive strategies that might save you from financial ruin if faced with a serious lawsuit! 

But the thing is, timing is essential – to work best, these strategies must be put into place before a problem arises.  The next meeting you have with your financial planner, accountant, insurance agent, or estate planning lawyer, express your interest in Asset Protection!

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