Do you have reason to believe that you should hire an asset protection lawyer in the near future? Are you concerned that you’ve made mistakes and you need a legal professional to step in and make things right?
If you find yourself in this position, it makes good sense to consult with an asset protection lawyer. You never know what this person can do for you until you share your position, ask questions, and provide feedback on what you are trying to accomplish.
With all this in mind, you should gain a better idea of what an asset protection lawyer can do for you. You may be surprised at everything an attorney has to offer somebody in your position.
Here are a few things an asset protection lawyer can do:
- Form a Limited Liability Company. Also known as an LLC, you can work with an asset protection lawyer to form this type of business structure. When it comes to protecting your assets, while also taking advantage of tax benefits, this is one of the best things you can do.
- Create a buy-sell agreement. Are you familiar with the many benefits associated with a buy-sell agreement? With this, you will feel better about the future of your family business. If you don’t fully understand the ins and outs of this type of agreement, you’ll want to sit down with a asset protection lawyer in the near future.
- Create a family limited partnership. Are you seeking a way to gain protection from lawsuits? Are you also seeking an approach that will benefit you in regards to your estate plan? A family limited partnership is not the right strategy for everyone, but it could be perfect for you.
Lawsuits and Asset Protection
Asset protection is exactly what it sounds like. With this, you’re implementing a strategy that can help protect your assets now and in the future. For example, the thought of losing assets as the result of a lawsuit should be enough to worry you. We talk about this on our website, noting the following:
“As unfortunate as it may be, we live in a litigious world. For this reason, you must do whatever you can to protect your company from predators who will use the legal system to their advantage. If you neglect to make the right decisions, the end result could be a lawsuit that costs you a lot of money. Fortunately, there are proven strategies that can preserve your wealth while protecting your company’s assets.”
It can be difficult to make the right asset protection decisions on your own, as you may never have a clear idea of what you should and should not be doing. This is why it always makes sense to consult with a qualified legal professional.
Ask these Questions
If you’re new to asset protection planning, if you don’t know exactly what you’re trying to accomplish, ask an attorney these questions:
- What type of asset protection plan is best for somebody in my position?
- Can you review what I have done in the past to ensure that everything is in order?
- Will my asset protection plan need adjusted in the future?
By asking these questions, you can get on the same page as your attorney. From there, you can work together to ensure that everything is just how it should be in the future.
If you have overlooked the importance of asset protection planning in the past, you still have time to make things right. With our help, it won’t be long before you’re feeling better about this important detail.
Contact us to discuss your situation and receive professional advice. Although you may be concerned about what you have or haven’t done in the past, don’t let this stop you from making things better in the immediate future. It’s our goal to review your situation and do whatever it takes to put your mind at ease. Give us a chance to help you out!