Asset Protection Planning

Asset protection planning is the structuring of your estate in order to protect your accumulated wealth from future lawsuits and creditor claims. The goal is to preserve your hard-earned assets for your and your family’s use so that you don’t one day find that you have been financially destroyed by an unforeseen lawsuit. This type of planning can encompass multiple techniques including the design of:

  • Offshore Asset Protection Trusts in countries that offer more favorable protection than is available in the litigation-prone United States Domestic
  • Asset Protection Trusts which are drafted under the laws of states with more favorable laws, similar to using a Delaware corporation to take advantage of Delaware’s more favorable laws
  • More protective entities, such as limited partnerships, limited liability companies and trusts
  • Use of existing tools, such as insurance, corporations, trusts and exemptions, to secure maximum creditor protection
  • Intra-family transfers, when desirable

Asset protection planning involves a balance between maintaining control and obtaining the highest level of protection. This is an area in which Bob Gillen has served as an instructor to numerous accountants and attorneys and as an advisor to physicians, business owners and successful clients.