More than one million lawsuits are filed each year in the state of California, according to California Citizens Against Lawsuit Abuse. With such a high number of cases, California is one of the most litigious states in the nation. As an individual, you need to utilize methods of asset protection to ensure that your finances and property are safeguarded throughout all of life’s legal challenges. At Barth Calderon LLP, our asset protection attorneys in Orange can implement legally sound strategies to safeguard your assets and preserve your financial well-being. We represent a variety of individuals who seek to protect their wealth from people and circumstances that threaten to siphon off their assets. Our goal is to help clients insulate their wealth through the implementation of various strategies such as creating special trusts and comprehensive financial plans.
The team at Barth Calderon LLP assists people with assessing options to protect their assets; identifying potential threats they need to insulate their assets against; and determining the best plan of action for a specific individual or small business owner’s concerns. Based on this type of comprehensive evaluation, we can implement various strategies to successfully protect your assets. Our firm’s individualized approach enables us to anticipate our clients’ needs and serve their long-term interests. We can help you organize your financial affairs to safeguard your assets for situations pertaining to the following:
Spouses and Other Family Members
In the event of divorce, you will want to ensure that your assets are protected from being taken by or distributed to your current spouse. Asset protection, in this circumstance, must be accomplished prior to the start of divorce proceedings. With careful planning and consideration before marriage, you can obtain a prenuptial agreement to protect your assets. If you are already married, you can obtain a postnuptial agreement to serve the same purposes. Additionally, pre- and post-marital agreements also enable individuals to protect assets on behalf of their future beneficiaries, such as children from a previous marriage. Domestic asset protection trusts can also clearly delineate each spouse’s interests in regard to their individual finances and assets and their community property.
If you are unable to pay your debts, your creditor can get a judgment against you from the court. With such a judgment, liens can be placed against your assets. There are various ways to legally protect your assets from creditors, including the formation of a limited liability company, family limited partnership, or an asset protection trust. If you have properly established an asset protection strategy prior to being in default, you can legally insulate certain assets from creditors’ claims without committing tax evasion.
Asset protection also can help you safeguard your finances and property against lawsuits. Certain types of property can be protected in the case of a lawsuit by arranging finances, real property, and other assets in a way that reduces their vulnerability to litigation and court orders. By implementing a unique strategy, we can help ensure that you maintain your financial well-being and that your assets are not depleted by people or companies suing you.
You likely do not expect to be sued, but this is a possibility for many individuals, and therefore, you should take action to avoid financial loss in the future. By allowing us to help you prepare a sound asset protection plan for you, you can prevent loss of your personal property, inheritances, and small business assets. We can help you structure your property and finances through the creation of a financial plan, estate plan, and other tools as part of a thorough strategy to protect your individual assets.
With professional guidance from our firm, you can implement defenses against future lawsuits, divorces, and creditor actions. We can help you take advantage of techniques that are available to protect your assets and earnings. You must, however, take action at your earliest convenience to ensure that you are prepared and ready for future legal battles or other circumstances that you cannot predict. Fill out a free case evaluation form for assistance with understanding what asset protection techniques are appropriate for your situation. Contact Barth Calderon LLP today for effective guidance through this process.