Asset protection planning involves coordinating property interests to protect assets against potential future claims. If properly designed and implemented, a well-prepared estate plan can protect assets that are most strategically important to a family's or business' security from claims incident to divorce, litigation or future creditors.
Why Asset Protection Planning is Important
Asset Protection Planning is of more importance than ever before. As our society becomes increasingly engaged in lawsuits, more hazards to the long-term preservation of wealth exist than ever before. The high incidence of divorce, and ever-expanding theories of liability for certain types of activity have increased many families' exposure to financial risk. Many professionals in traditionally low-risk occupations also have found themselves exposed to greater malpractice risks, including medical practicioners, real estate developers, accounting professionals, and officers and directors of publicly held companies.
Your Sarasota & Manatee Estate Tax Planner