Asset protection planning is a legal method to protect assets from creditors, useful in situations like lawsuits, judgments, divorce, or business conflicts.
Common strategies include setting up an asset protection trust or a limited liability company (LLC).
Another approach is to diminish the value of property by placing debts or loans against it.
The funds obtained from these debts or loans can be secured in a safe structure.
This protection makes it more challenging for others to seize assets in a lawsuit and aids in negotiating better settlement terms.
Common strategies include setting up an asset protection trust or a limited liability company (LLC).
Another approach is to diminish the value of property by placing debts or loans against it.
The funds obtained from these debts or loans can be secured in a safe structure.
This protection makes it more challenging for others to seize assets in a lawsuit and aids in negotiating better settlement terms.
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