Manage and Protect your Wealth Properly
You’ve worked hard for what you own, and you want to keep it. Unfortunately, malpractice, lawsuits, and other liabilities can quickly devastate assets that you’ve spent a lifetime building. A comprehensive business succession and transition plan that includes an asset protection plan uses multiple legal techniques to deter would-be creditors taking your assets and the Government from forcing a tax sale. If you are a physician or surgeon, asset protection planning is especially important. A 2011 a study showed that 99{18df719afccbea81f72d2d6a6c13d9b8defef299d0de5139df0d5cd8b1ec5d82} of physicians in a high-risk specialty will have had at least one malpractice claim by the
age of 65. If you own a Business, Commercial or multi Residential properties, having the proper legal entities as owner and a well planned sale strategy in place can protect and preserve your wealth for generations. Our members and their planning Expertise and processes help insure that this will happen.
For Example, assets owned by an LLC are protected from the personal liability of any of the members. The overarching goal of any asset protection plan is to make your assets as difficult as possible to get in a liability claim. Members of the Business & Wealth Planning Network utilize a variety of ownership tools including LLC’s, family limited partnerships, holding corporations, management corporations, and irrevocable trusts to protect the assets our clients have worked hard to accumulate.