Ohio Asset Protection Planning: Don't Wait Until It's Too Late
Ohio asset protection has become even more important than in the past given an increasingly litigious society and the troubled economic climate. We can work with you to develop different types of wealth preservation strategies to protect you, your family, and your business from a major financial crisis.
The central goal of asset protection planning is to use the law to guard your most valuable assets from potential liabilities. Lowering the “asset profile” of an individual or family traditionally has been done to ward off frivolous lawsuits; today, however, there are additional dangers from identity theft, phishing, and similar schemes that make separating your assets from your personal information a wise decision. By transferring assets to a business entity or trust, you ensure that assets are no longer reported in your name. Even if your identity is compromised, your assets will remain safe.
Ohio asset protection strategies vary according to the type and location of the property you own, but include:
- Domestic and Offshore asset protected trusts
- Exemption of assets under state law
- Financial workout negotiations with creditors
- Entity structuring such as limited liability companies
- Family financial planning through various types of trusts and wills
- Negotiation and preparation of pre-marital agreements
Asset protection law requires that planning take place long before there is any sign of a lawsuit. Should money be transferred out of one's name with the intent of avoiding a pending lawsuit or creditor, a court will simply order the transfer to be reversed. Don't wait until it's too late to contact one of our experienced asset protection attorneys.
Ohio Asset Protection and Estate Planning
Asset protection and estate planning are closely intertwined. Asset protection involves evaluation of your current financial position, and your short- and long-term financial goals. The team at Gudorf Law Group can use asset protection law to help you determine if your current assets are safe from potential creditors and reposition them if necessary. Once we have worked out a financial plan, we can then help you to integrate that information into a comprehensive estate plan.
Without adequate safeguards, your years of hard work and carefully accumulated wealth are at risk. Our lawyers are committed to protecting individuals and businesses from potential financial catastrophes.
You can learn details more specific to your circumstance by contacting one of our qualified asset protection attorneys for a complimentary consultation.
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When you're ready, feel free to contact us to arrange a free consultation to look at your options. Remember, all of our estate plans come with a money-back guarantee.