Asset Protection Planning Accomplishes Multiple Goals At Once

April 12, 2016

Most people are familiar with the basic idea that asset protection planning helps them accomplish the goal of shielding some or all of their assets from creditors. There are other benefits associated with going through this process, however, the biggest of which is financial privacy. Using simple legal vehicles to protect your assets is a great way to retain privacy of ownership of these assets. Many forms of wealth like real property can be owned privately, therefore reducing what others perceive as your visible net worth. This can help to minimize the chances of a predatory lawsuit going after your individual assets.shutterstock_132410183

As an example, when a lawyer reviews a case to determine potential damages, usually he or she will look through a public records search to analyze what assets are available that could be liquidated in order to satisfy a judgement. When it is difficult or impossible to find assets tied to an individual’s name, the chances of that lawyer ultimately agreeing to take on the case are much less reduced.

In this way, asset protection planning not only helps to shield your assets in the event that a lawsuit is initiated, but it also discourages predatory individuals and other attorneys from beginning cases against you. These are just a few of the benefits associated with comprehensive asset protection planning. Consulting with a knowledgeable New Jersey asset protection planning attorney can help you accomplish many of your goals.

 

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Understanding the New FinCEN Residential Real Estate Reporting Rule

What Business Owners and Property Investors Should Know Before March 1, 2026 Effective March 1, 2026, the Financial Crimes Enforcement Network (FinCEN) will implement a new residential real estate reporting rule that significantly expands ...

<p>The post Understanding the New FinCEN Residential Real Estate Reporting Rule first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Top 5 Things Employers Should Know About Their 401(k) and Employer-Sponsored Retirement Plans

Discover the top five things business owners should understand about managing a 401(k) or employer-sponsored retirement plan, including fiduciary responsibility, fees, compliance, and employee engagement. ...

<p>The post Top 5 Things Employers Should Know About Their 401(k) and Employer-Sponsored Retirement Plans first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Health Care: The Hidden Retirement Cost You Can’t Afford to Ignore

Health care is one of the most significant and often underestimated retirement expenses. Explore Medicare, long-term care, and tax planning considerations for affluent families. When most people think about retirement planning, they focus on investment ...

<p>The post Health Care: The Hidden Retirement Cost You Can’t Afford to Ignore first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>