Asset protection is often mistakenly deemed fraudulent; however, Asset
Protection is in fact 100% legal, if done properly. In order to ensure
that what you are doing is actually worth your money and time, and will
hold up in a court of law, there are two key factors to keep in mind.
The first step to take when considering Asset Protection is to contact
a lawyer. In doing so, you can rest assured that you are working with
someone who is well versed in the practice of Asset Protection and is
knowledgeable on the best strategies and courses of action for your individual assets.
Second, know the law. Of course, your attorney will be your go-to when
it comes to handling the legality behind protecting your assets, however,
it is important that you, the client, are aware of what may be deemed
illegal when it comes to protecting your assets.
Asset protection is not about hiding your assets, it is about structuring
your assets in a manner that protects them from future creditors. Issues
regarding the legality of Asset Protection arise when fraudulent transfers
occur, aka when assets are hidden for the purpose of deceiving and evading
creditors and the government.
Once a claim arises, it is illegal for a debtor to purposefully retitle
assets to another individual causing the asset to no longer be in the
debtor’s name, thus making it unreachable by the debtor’s
creditors. For this exact reason, it is crucial that you are proactive
with your Asset Protection BEFORE any claims may arise.
For a complimentary consultation, contact The Presser Law Firm, P.A.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(561) 953-1050 or e-mail Info@AssetProtectionAttorneys.com