Asset Protection is a concept that one can shield ones assets from the multitude of perils that could threaten or jeopardize the health and strength of those assets. Such perils include: Frivolous & Exaggerated Claims, Identity & Other Frauds, Unexpected Tragedy, Changes in Family Dynamics, Cash-flow Disruptions, and even a client’s occasional Bad Judgment Call.
It is absolute myth, that there is any “be-all/end-all” technique that can provide “bullet proof” asset protection. In many cases it is infringing on legal and ethical boundaries to make such a proposition.
That said, asset protection is achievable when one, through the use of sound legal principles, intelligent forethought, and carefully drafted mechanisms, sets in place a system of processes and legal structures which function in concert to manage risks, and isolate high risk assets and liabilities from low risk assets, and sources of financial security.
Timing and Value are essential elements that factor into planning for the protection of one’s assets. If you undertake to set in place an asset protection plan, and fail to properly implement the asset protection plan, you could sustain serious financial penalties, as well as criminal liability.
The transactions and conveyances are equally important as the structures themselves. Further, it is fundamentally important that assets are protected from the risks before they are exposed to the risks.
Panagopoulos Embry can effectively assist clients in sound, proactive, lawful asset protection planning.