Southern California Asset Protection Lawyers
Asset protection planning for our clients is an important and necessary part of estate planning and tax avoidance planning. Lawful asset protection planning may be applied to protect any type of asset, including a manufacturing company, a professional practice such as a medical, accounting or attorney practice, a single asset such as a bank account, apartment complex, or residential single-family residence.
Asset protection planning has become more well-known today because of expanding theories of legal liability, contingency fee compensation paid to plaintiff’s lawyers, juries who make decisions based more upon a desired outcome than upon the law, and extravagant high-dollar jury awards. For this reason, asset protection planning is increasingly important, and we assist our clients with all aspects of lawful asset protection planning.
Since this is a complex emerging area of law, there is no “one asset protection plan” that universally protects all of a client’s assets, and there is no “single right way” to design and form an effective and lawful asset protection plan. However, it is critically important to know what an asset protection plan may lawfully achieve, and it is equally important to know what it may not lawfully achieve. Lastly, a lawful asset protection plan will not aid a client in evading the payment of federal or state taxes, and a lawful asset protection plan is not based on secrecy, hiding assets or any method to make a fraudulent transfer.
- We are skilled at all facets of asset protection planning and we assist our clients with: Designing, forming and customizing a lawful asset protection plan
- Combining irrevocable trusts, limited liability companies and limited partnerships to form an asset protection plan
- Utilizing gifting and installment sale transaction strategies when combining limited liability companies, limited partnerships and irrevocable trusts to implement an effective and lawful asset protection plan
Specific examples of lawful asset protection plans are:
- Irrevocable Discretionary Trusts
- Irrevocable Life Insurance Trusts
- Irrevocable Children’s Trusts
- Intentionally Defective Irrevocable Trusts
- Qualified Personal Residence Trusts
- Grantor Retained Annuity Trusts
To schedule a free initial consultation to discuss asset protection strategies with one of our lawyers, call 949-442-0895 or email us. Located in Orange County, we serve clients in and around Southern California and beyond.