At its core, all estate planning has some element of asset protection.
We meet with our clients to review their assets and discuss their preference on how to have the assets preserved or distributed after their death. We help them ensure that their assets pass to (or are used for the benefit of their) intended beneficiaries and not unintended “beneficiaries” such as the Internal Revenue Service or creditors. Often, the appropriate use of a trust, a limited partnership, or a limited liability company, can mean the difference between having assets available to provide for the lifetime of a child versus making assets available to the child’s creditors. We work with all of our clients to explain their options and help them balance between outright ownership and protective structures to enhance their asset protection.
