Almost everyone knows someone who had a problem and lost everything. Claims can, for example, allege professional liability, responsibility for a car accident, or unpaid creditors. Whether meritorious or not, defense can be enormously costly. With our litigious society, asset protection planning has become required and desired by many considering insurance, although critically necessary, has often proven to be an inadequate degree of protection.
Asset Protection Does Not Mean Fraud
Asset protection planning is not about hiding or concealing assets and The Marshall Law Office will not assist anyone in their efforts to commit fraud. Rather, asset protection is about planning for the unexpected by using existing and valid laws to obtain the best possible level of protection for your assets. In other words, the goal is to make you a less desirable target for claimants before a dispute even arises.
A fine line exists between properly utilizing various legal methods to protect assets and taking actions to defraud creditors. This is a line you do not want to cross! Fraudulent actions are illegal and can cause extremely devastating consequences. There is a significant difference between protecting assets and hiding them from creditors.
With proper estate planning and assistance from The Marshall Law Office, your business and estate can be protected from the threats of litigation and the various risks of loss. Even if you do not feel like you have substantial wealth, there are critical measures that all must take to protect hard earned assets. For example, Nevada has a very favorable Homestead exemption. So long as you properly submit your Declaration of Homestead to the County, you can protect up to $550,000.00 of equity in your home from creditors and bankruptcy. Such a protective measure is one all Nevada homeowners should take regardless of the size of their estate.
Contact The Marshall Law Office today to schedule a consultation with a qualified attorney to ensure your estate and business are protected.