Protecting Yourself and Your Family
Lacey & Lyons use asset planning protection to strategically protect your assets and wealth from creditor claims and lawsuits. Our attorneys will review all of your assets, risks and discuss your financial goals. We then analyze everything and recommend establishing companies or trusts to help create a legal barrier to protect your assets. Every asset protection plan is different, as these are designed to best suit your current and future wealth management plans.
Protecting Real Estate and Liquid Assets
In the United States, it’s best to protect your real estate investments by having each parcel of land in a separate land trust, such as a limited liability company. This prevents creditors from going after all your assets, limiting liability to one single entity.
To protect your liquid assets, we often recommend a trust. We can recommend domestic or international trusts based on your total liquid assets and overall risk factor.
Why You Need Asset Protection Planning
Regardless of your net worth, a family or individual that has assets needs to consult with an attorney and form a custom wealth protection plan. These plans assess your assets, risks, comfort level and overall fears. Additionally, some professions, such as business owners, investors, real estate owners, physicians and even parents, are at a higher risk of being involved in a major lawsuit, which is why assets must be protected. As with anything in life, people that don’t have assets usually aren’t lawsuit targets. People that have wealth and physical assets are at a substantially higher risk of encountering lawsuits.
Protecting Assets from Lawsuits
Having the proper legal tools and documents in place before a lawsuit strikes helps ensure that you are in an advantageous position, as this is usually the difference between a quick settlement and expensive litigation.
People with a lot of assets may benefit from an offshore trust, which allows you to take advantage of more favorable laws. If you have a foreign trust and someone sues you, they will face more barricades and barriers than a local trust.
Asset Protection Attorneys Working For You
An experienced asset protection attorney will work with you, analyze your situation and then propose a custom plan based on your personal needs and risks. We work with our clients to create a protection plan that is appropriate not only for you but for your family too. The benefit of working with Lacey & Lyons is that we have years of experience understanding the legal system, which means we can create a plan that works for you.
Once you establish an asset protection plan, if your situation changes, you can meet with us again to review your plan to ensure it is still in compliance with your goals. These types of plans should be reviewed and updated as needed if your financial situation changes, the legal system has updates or if your family grows.
With the rise in litigation, you must preserve your wealth and your family’s future today. Contact us to arrange a consultation.