Trusts viable option to protect assets

摘要

As we mentioned last month, the best way to protect assets that have accumulated over a lifetime has a great deal to do with the perceived threats. Sometimes, the techniques available to protect assets from one party are inconsistent with those needed to fend off claims from a catastrophic event from consuming all of the funds and property that a family owns. Keep in mind when reading, however, that risks vary from state to state and local statutes must be considered before instituting any actual planning. In the law, there is a huge difference between asset protection planning and hiding assets from parties legitimately entitled to look to those assets for satisfaction of a judgment. By planning in advance, properly drafted documents and ownershiptransfers can make a person's property difficult or impossible to get to.