Asset Protection
An Experienced Asset Protection Lawyer - Free Initial Consultation
Asset protection is like an onion. You create layers and layers of
protection so you are bullet-proof. There are many different ways to
protect your assets. The first is to never enter into joint ventures
without protection. You should never sign a personal guarantee for
business purposes. Family Limited Partnerships (FLP) are another great
tool.
The most valuable feature of the Family Limited Partnership
is the ability to protect and shield assets from potential
claims. The law is well-established that a creditor of a partner
of the Partnership is not permitted to seize assets of the
partnership to satisfy the debt.
Basically that means that business interests, savings, and
investments may be safely insulated from potential liabilities
in this manner.
This excellent result will not be accomplished if a creditor
is able to obtain a charging order, foreclosure or seizure of
your ownership interests in the FLP. Limited Partnership
interests should be held by children, or trusts specifically
designed for ownership purposes. This technique will preserve
and may significantly enhance the available level of asset
protection.
There are many other options available to you. If you or a member of your family needs the services of an experienced
asset protection attorney, contact Jeremy Eveland now at the The Law Offices of Jeremy D.
Eveland, PLLC. We are committed to helping you protect your wealth from
lawsuits and creditors
.
