Asset Protection Planning

The estate planning process may yield an advantage in addition to the desired distribution of assets with reduced administrative and tax-induced shrinkage. And that is asset protection: techniques designed to protect assets from loss due to creditors and legal judgments. To be clear this isn’t about efforts to avoid legitimate debts and other obligations, but rather to insulate your assets from the depredations of a litigious society—frivolous or excessive claims, in some instances arising merely because of your wealth or visibility within the community.