Getting serious about your business or asset protection planning may involve some legwork, such as reevaluating your insurance policies.[Read more…] about Asset protection legwork
Effective asset protection planning works for future, unforeseen creditors. If you have signed a personal guarantee for a lease or loan, then you have an existing creditor.
Asset protection planning, to protect you from an existing creditor, is likely to fail.
Privacy and anonymity are cornerstones of an asset protection plan. Filing your own annual reports for your Wyoming LLC will publish your name on the interwebs.[Read more…] about Should you file your own Wyoming LLC annual report?
Hearing from a number of people lately who are straight up giving their assets away to family members in an attempt to hinder a pursuing creditor.
This is not a good idea. This type of transfer will be undone by a court.
Even if it were an effective strategy for asset protection, what would happen later? What if your friend/family/accomplice didn’t give you your stuff back?[Read more…] about Panic gifting (a bad asset protection strategy)
It’s best to start your asset protection plan BEFORE you need your asset protection plan. If you wait until after there is a legal threat, most if not all planning options will be off the table.[Read more…] about Start early (with asset protection)
Treat yourself right in the beginning. It’s easier than trying to fix yourself at the end.[Read more…] about Stretch it out