Asset
Protection
Asset
protection (sometimes also referred to as debtor-creditor
law) refers to a set of legal techniques and
a body of statutory and common law dealing with protecting
assets of individuals and business entities from civil
money judgments, creditors such as trusts, partnerships
and international entities. Asset protection help minimizes
the risk of loss from unexpected hazards of businesses
and individuals. This law has shielded and protected
many families from business failures and lawsuits. There
are many programs available to help an individual or
business minimize or avoid tax liability. Asset protection
strategies vary depending on factors such as country
of residence and citizenship, age, or annual net income.
Lawyers are usually involved in the design and management
of an asset protection strategy. Strategies of asset
protection include, amongst others, insurance, titling,
formation of entities, trusts, privacy plans, equity
stripping, and family limited partnerships.
At
Penney and Associates, we are committed to providing
the best possible service so your law related needs
are handled with the utmost professionalism.
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