Can other 'firewalls,' entities or tools also shield assets?
Of course! There are literally hundreds, or even thousands, of variations on the theme. There are many more entities we could discuss, but most entities and strategies, conceptually at least, fall within one of these 'firewall' categories. For example, limited liability partnerships and limited liability limited partnerships are variations on the limited partnership. The limited liability company also works in much the same way. Of course, we can't fully discuss every possible firewall. Nor should we get too technical. We only want to discuss the fundamentals or more common tools and strategies. More advanced methodologies may combine legal and financial strategies. These invariably complex arrangements can provide financial as well as protective benefits. Nor is asset protection planning static. We professional asset protection planners constantly invent new strategies and tactics, and as rapidly the collection lawyers try to find ways to overcome our older strategies. Every field is fast changing. So is ours.