LAW FIRM, LLC
Non-Bankruptcy Asset Protection: Protecting Your Asset Through Risk Management Planning Before Potential Claims Arise
Asset protection is risk management planning that is designed to discourage a potential lawsuit before it begins, or to promote a settlement most favorable to the client. The risk being managed is the legal risk that the client may lose wealth in a lawsuit. It is fundamentally pre-litigation planning.
Although there are exceptions, such as statutory exemptions and spendthrift trusts, the law generally frowns upon asset protection. No one has an inherent right to protect his or her assets from creditors other than what state law or federal bankruptcy law provides, so in many respects asset protection takes advantage of legal technicalities in the same way that many tax shelters attempt to take advantage of the tax code: by exploiting the unintended effects of statutes and court rulings intended to do something else.
Non bankruptcy asset protection can be extremely helpful for consumers with assets to lose, such as liquid assets, small businesses and rental properties, and people who are not good candidates for bankruptcy.
Helping You Safeguard Your Wealth Against Creditors' Lawsuits
At Lord Law Firm, LLC, we help clients in Columbia, South Carolina, develop personalized asset protection plans that help them prepare for the worst while minimizing the potential damage.
There are many sources of liability that most people encounter no matter how cautiously or prudently they may act in their personal and professional lives. We can help you protect yourself from the loss of assets due to:
- Medical bills
- Motor vehicle accidents
- Accidents or injuries that occur on your premises
- Professional malpractice
- Business debts for which you are personally responsible
- Inability to fulfill an important contract
- Negligence as an officer or director of a corporation
- Taxes and other government claims
- Divorce and separation problems such as a claim from a former spouse
This list can go on endlessly. But, the point is, no matter how safe and secure your financial situation may appear today, you can never be absolutely certain that your hard-earned assets won't be in jeopardy tomorrow.
Don't Wait. Take Action Today.
What is unfortunate is that many families lose substantial assets when creditor claims arise. Yet any family can legally and effectively protect assets by taking timely and decisive action to fully protect its property before there is a potential claim, not after.
"Bankruptcy is a solution, not a failure."
Call 803-407-4140 today to set up a confidential appointment.
Flexible appointments and payment options available.
We are a debt relief agency.
We help people file for bankruptcy relief under the Bankruptcy Code.