Ohio Asset Protection: Your Attorney and Other Advisors Should Work as a Team

When it comes to Ohio asset protection, attorneys and other advisors are finding they are turning more and more to advanced strategies for asset protection planning in order to fully protect clients’ assets. Additionally, they are finding that better planning and better protection results when advisors from multiple disciplines collaborate to assess a client’s needs and tailor a plan specifically to those needs.

This is especially true for businessmen and professionals who’ve amassed significant wealth. These individuals often have accumulated a wide array of assets, everything from real estate and businesses to widespread investments and insurance policies. They are also very vulnerable to lawsuits and other risks.

The best Ohio estate planning and asset protection planning involves a number of intricacies best handled by a team of advisors that includes at least three members:

  • Ohio asset protection attorney
  • Accountant
  • Insurance Agent

Our Ohio Asset Protection Attorneys Advise a Three-Meeting Approach

At our Dayton, Ohio estate planning firm, we’ve worked with a number of asset protection planning teams and have found a format that works particularly well.

We call it the three-meeting approach. This is how it works:

Meeting One: Client and all advisors involved

In this meeting the client and advisors all get to meet each other and become familiar. Goals for this meeting include setting objectives and goals and setting reasonable expectations. The advisors will also use this meeting to begin gathering information from the client and answering any questions the client has. Because of laws surrounding attorney-client privilege, the attorney and client may need to meet alone for part of this meeting.

Meeting Two: Advisor planning session

This meeting involves only the advisors. Here the advisors will brainstorm, discuss alternatives, explore different approaches and come to a consensus about the best solutions for the client.

Meeting Three: Solutions meeting with client

At the final meeting, the advisors meet with the client to present their asset protection planning solution and get the client’s feedback and, hopefully, approval. During this meeting the Ohio asset protection attorney and other advisors will explain their recommendations to the client, explain the likely results of the plan, answer client questions, estimate costs, and explain what will be required of the client and advisors to maintain the integrity of the plan.

The three-meeting approach streamlines the asset protection planning process and minimizes confusion for everyone involved. It also takes advantage of each advisor’s depth of expertise to ensure complete planning.

In Dayton, Ohio, the estate planning firm of Gudorf Law Group, LLC, can help you assemble a qualified asset protection planning team or help organize your existing advisors using the three-meeting approach. Call our Ohio asset protection attorney’s office at 1-877-483-6730 to schedule a free consultation.