An Asset Protection lawyer specializes in helping clients protect their assets from potential legal claims or creditor judgments. These lawyers can assist individuals, families, and businesses in creating and implement strategies to safeguard their assets against potential risks.
Some of the services provided by an Asset Protection lawyer include:
Creation of Trusts: A lawyer can help set up various types of trusts, including domestic asset protection trusts (DAPTs) and foreign asset protection trusts (FAPTs), to protect assets from creditors and legal claims.
Business Entity Formation: Lawyers can help clients structure their businesses in ways that provide liability protection and reduce the risk of legal claims.
Estate Planning: An Asset Protection lawyer can help clients protect their assets for future generations by creating estate plans that provide asset protection and minimize taxes.
Contract Review: Asset Protection lawyers can review contracts and agreements to ensure that their client’s assets are protected in case of a dispute.
Litigation: If a legal dispute arises, Asset Protection lawyers can represent their clients in court and use their knowledge and experience to protect their client’s assets.
When looking for an Asset Protection lawyer, finding someone with extensive experience in this area of law is essential. You can ask for recommendations from friends, family, or other professionals, such as financial advisors or accountants. Additionally, you can search for lawyers specializing in Asset Protection law through professional associations and directories.