When an individual is looking to ensure that their assets are safe from being seized by creditors in the future, the best thing to consult with an asset protection attorney. With asset protection, a number of individuals will be in position to keep their finances secure and safe from creditors.
Asset protection is the process of using legal techniques to protect the assets of individuals and businesses from creditors. The main objective of asset protection is to keep assets insulated from creditors without committing fraud or tax evasion. Individuals looking to protect their assets will benefit by hiring a qualified estate planning attorney such as Brandon L. Campbell.
Asset Protection Trusts
There are a number of trusts that an individual or business can set up in order to protect their assets. These types of trusts include revocable and irrevocable trusts. These trusts have different asset protection advantages and are worth looking into for protection of your wealth.
A living trust is one in which is set up during a person’s lifetime and goes into effect throughout the individual’s life. As a result, an individual will be able to take advantage of preserving their assets as long as they are living. This type of trust does not protect against creditors of the settlors during their lifetime.
Trusts are either revocable or irrevocable. With a revocable trust, an individual is able to keep control of the trust assets and either change or revoke the terms at any given time. An irrevocable trust is one where the grantor does not have direct control. As a result, changes to this particular trust cannot be made unless the beneficiaries provide consent or a court authorizes such changes.
Anyone looking to establish a trust will want to consult an estate planning attorney. A trust that is used to protect you from creditors is the one that is usually an irrevocable trust. While these protect your wealth in most cases, courts can still make claims for your assets.
Benefactors of Asset Protection Trusts
There are a number of people who can and often do benefit from trusts. One of the most common people who benefit from a trust is individuals. Anyone that has a considerable amount of savings, investments, and property will benefit by getting a trust so that they can keep these things protected from creditors. The beneficiaries of these trusts are also individuals who benefit from them. Businesses may also benefit from a variety of trusts so that they can protect their company assets from lawsuits and judgments.
Asset Protection Attorneys
Whenever you have a considerable amount of assets, you have a lot at stake. As a result, you will need to make sure that you take the proper steps in safeguarding your assets from various creditors. In order to ensure that you can get your assets protected, it is best to hire an attorney such as Brandon Campbell. With his assistance, individuals will be able to learn all about the laws and regulations that pertain to protecting assets. He will also help you set up a trust and organize all of the required documents. Brandon Campbell will also be able to provide you with advice on how to best protect your assets in both the present and the future.
Contact Our Asset Protection Attorney
If you are someone who is looking to protect your wealth and assets, then you will want to contact Brandon L. Campbell. With his years of expertise as an estate planning attorney, Brandon L. Campbell has been able to help a number of individuals and businesses protect their wealth.
When you work with us, you will be in position to get assistance such as document preparation and filing, advice, consultations, and representation in court if necessary. With all of these services, anyone that is looking to ensure that they preserve their wealth will benefit by working with Brandon Campbell. Call today for an asset protection consultation with an experienced and knowledgeable asset protection attorney.