Asset Protection Strategy Attorney in Sacramento
To determine if an asset protection strategy would be helpful, ask yourself this: Is the cost of developing a plan significantly less than the value of your assets? If the answer is yes, it is never too early to start protecting your property. Waiting to protect your assets makes them vulnerable. The experienced Sacramento, CA asset protection strategy lawyers at Boyd Law can help you figure out the right asset protection strategy that best suits your individual circumstances.
In Sacramento, we have a large community of individuals with remarkably valuable assets. Proactive asset protection allows individuals to keep their earned property out of the hands of opportunity seekers. There are always two sides to every story, but you should never have to relinquish a significant portion of your assets simply because you have more.
Why Do I Need Asset Protection?
You can be the nicest, smartest, and most generous person in the world, but if you have a high net worth, you will likely face some kind of financial attack in your lifetime. Divorce, liability claims, tax claims, and creditor claims can all become financial nightmares for individuals with significant assets.
If someone does not have assets, collectors cannot continue to take actions against them – you cannot get blood from a turnip. While individuals cannot pursue collections from those who do not have assets, they can and will pursue those who do. Some of those opportunity seekers will not stop until they have tried every strategy they can think of to collect.
Considering this reality, you are not being stingy or distrustful by taking a proactive approach to asset protection. You are taking reasonable actions to minimize the risk posed to your estate. Taking action early and maintaining your strategies can protect you and your family from unfair financial attacks.
Asset Protection Goes Beyond Estate Planning
Many Sacramento, CA asset protection strategy attorneys confuse asset protection strategies with estate planning. They market themselves as asset protection strategists but only offer expertise with contracts, business planning, and estate planning. These strategies are important, but they do not extend to the type of protections high net worth individuals need.
Asset protection strategies are multi-faceted and forward facing tactics minimize the risks high net worth individuals face. A proper asset protection plan includes insurance acquisition advice, prenuptial and postnuptial agreements planning, estate planning, trusts management, and legally transferring assets as needed.
Limited Liability Companies and Trust Planning
At Boyd Law, our asset protection strategy lawyers in Sacramento, CA use a number of asset protection techniques. To safeguard our clients’ business assets, we often employ LLCs (limited liability companies), partnerships and other commercial structures to minimize the outside risk creditors often present. For instance, if an injury occurs on company property, the claimant may only file against one business structure. The formation of numerous business units protects other aspects of the enterprise from financial liability.
For personal assets, we often create trusts to discourage certain attacks. Separating personal and business assets with the appropriate protection strategies minimizes the risk of fraud allegations and similar assertions while keeping clients in control of their assets.
Finding the Right Asset Protection Attorney in Sacramento, CA
Beware attorneys who market themselves as asset protection specialists in Sacramento. Some may not have the necessary experience or diversified expertise to provide the full measure of protection. Before you hire a Sacramento asset protection lawyer, ask him or her about experience working with high net worth individuals who experience the same level of risk as you. For instance, a doctor needs a different protection strategy than a tech startup CEO. Always discuss a specific plan regarding costs, management, and protection strategies.
At Boyd Law, our Sacramento, CA family law attorneys have extensive successful experience handling asset protection strategy cases and use sophisticated financial asset management strategies to protect individuals with significant business and personal assets. We have experience creating strategies and protecting our clients’ rights during legal proceedings. Whether you have an asset protection in place or are just getting started, give us a call at our Sacramento office today.