San Rafael, California Real Estate Attorneys Handle Asset Protection Planning
What is asset protection?
The legal armor of asset protection insulates your finances, investments and property from seizure by creditors, lawsuits and unscrupulous means. Asset protection discourages lawsuits, provides strong and valuable bargaining tools if lawsuits arise and works to successfully minimize or deter loss. The would haves, could haves, should haves of financial trauma can be avoided by utilizing the services of a skilled attorney who will help you put an asset protection plan in place now.
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Who needs asset protection?
High net worth is not the only criteria defining a need for asset protection. Asset protection is an important need of anyone whose finances may be vulnerable to the critical impact of unforeseen detrimental circumstances such as:
- Car accidents
- Foreclosures
- Job loss
- Medical crisis
- Business failure
How we can help you put on your legal armor
A skilled team of advisors is critical to the formulation of a legally solid plan. Asset protection is not a simple task to be entrusted to novice planners.
The plan we create for you can:
- Provide you with a legal advisor who understands all of the applicable laws and who specializes in the implementation and maintenance of sophisticated asset protection including the creation of domestic asset protection trusts and the correct titling of your assets in allowance for them to be moved to other entities (LLCs)
- Protect the inherited assets of your children, your grandchildren and loved ones by creating life time trusts for their benefit and assuring the assets stay in the family
- Protect your assets to allow them to grow and prevent them from being subject to waste or potential loss in divorce proceeding of your heirs
- Create an asset protection plan in an irrevocable trust that covers you with financial armor and shields you from being the target of lawsuits.
How to choose your level of need
You already may have done some basic asset protection planning if you have:
- Liability insurance, including homeowner’s, renter’s, automobile, business, professional, malpractice, long-term care, and umbrella policies
- 401(k) or IRA investments – With certain limitations, 401(k)s and IRSs (excluding inherited IRAs*) are protected from creditors in bankruptcy.
*Our law firm can help you assure your retirement plans are protected when they pass to your loved ones.
A more sophisticated level of asset protection planning is needed as assets and liabilities increase. You qualify for extended asset protection if you are in the following categories:
- Landlord
- Real estate investor
- Business owner
- Worker in a high risk profession
- Own a high dollar amount of unprotected property (accumulated or inherited)
It is all in the timing!
Now is the best time to plan ahead. Put your plan in place before the need arises; before a lawsuit or other threats to your and your family’s financial welfare are laid at your door. It is too late to seek asset protection once unfortunate circumstances arise and you are under financial attack. Our law firm specializes in helping you put on your financial armor and achieve peace of mind that you and your loved ones are at the highest level of security to protect your assets from being threatened. We invite you to call our office now to set up a complimentary, no obligation meeting to answer your planning questions and explore your need for a comprehensive asset protection plan.
Contact us for legal assistance with your asset protection planning
If you need legal assistance with your asset protection planning, call the Law Offices of J.R. Hastings today at 415-459-6635 or contact us online at https://www.jrhastingslaw.com/ to schedule a free initial consultation Our office is located in San Rafael, California, and we represent individuals and families throughout Marin, Sonoma, Contra Costa, San Francisco and adjacent Bay Area counties.