Tag: asset protection

Today we wrap up our discussion of asset protection with a brief analysis of the fourth and fifth levels of asset protection. Level 4 Asset Protection involves the use of entities such as LLCs, LPs, FLICs, FLIPs, foreign or domestic asset protection trusts, QPERTS and other entities for protection of personally owned assets. Level Four Asset Protection would involve the use of domestic or foreign asset protection trusts. Many states now authorize the use of “self settled trusts” that can be used...

Today we continue our discussion of Asset Protection with a brief analysis of the second and third Levels of Asset Protection. Level 2 Asset Protection is basic estate planning that everyone should have. The types of entities or powers we are talking about here would include: wills, revocable living trusts, durable powers of attorney, heath care powers and special needs trusts. JGPC Law does not provide level two services but we’re happy to provide you with referrals to competent estate planners...

Yesterday we gave a brief introdution to the concept of Asset Protection. Today we will dig a little deeper by explaining the first level of Asset Protection. Level 1 Asset Protection is the use of business entities. Everyone engaged in a business or professional practice should consult an experienced business attorney to consider the formation of an Asset Protection entity, such as a corporation, LLC, LLP or LP, to help protect both the business assets placed in the entity and owner’s...

Asset Protection is a topic few people understand.  Today we begin a multi-part series on Asset Protect to help you understand this topic.  There are two rules to Asset Protection and five levels to Asset Protection that you should keep in mind.  We begin with describing these rules and reviewing the five levels. The first rule of Asset Protection is that you will be in a much stronger position if you set up the asset protection structure before you need it. If you wait until a claim has arisen...