Secure your legacy. Plan Different.
Asset Protection
What is Asset Protection Planning?
Asset Protection Planning is planning to protect your assets while you are alive as well as after death. You work hard to accumulate assets. You want to preserve your wealth and safeguard your nest egg. However, along the way to financial security, there are pitfalls that can cause tremendous financial harm.
Apart from bad investments and fruitless business ventures, you are confronted with high taxes, lawsuits, and, people who view the use of the legal system, the same way others view a lottery ticket — lets go for the big one.
Asset Protection Planning (sometimes called “Advanced Estate Planning”) takes into account your need to:
- Protect assets during your life,
- Pass assets on in such a fashion as to minimize federal and state estate tax and
- Protect assets from attack by predators of your loved ones.
So many people simply give assets via a living trust to their children when they reach a certain age. Do you know who may get those assets if those children are sued? Do you want to protect your children’s inheritance? Attention must be paid to strategically positioning wealth and embodying that strategy in well drafted documents.
Asset Protection Strategies
Asset Protection is based on transferring assets into legal structures in which your ownership interest is shielded, minimized, or turned into a control (not ownership) interest. This reduces your financial vulnerability. The protection techniques that we use are strategies which have been court approved by the legal system.
Basic Asset Protection tools include:
- Irrevocable Trusts
- Private Placement Life Insurance (PPLI)
- Private Placement Variable Annuities (PPVA)
- Revocable or "Living" Trusts
- Family Limited Partnership (FLP)
- Limited Liability Company (LLC)
To learn more about the basic asset protection tools listed above and explore some more complex solutions, please contact us to receive our eBook "Never Ever Lose Your Assets - Planning Beyond the Traditional". You can also visit our PPLI library or PPVA page to learn more about their capabilities
