What is asset protection?
Asset protection refers to applying lawful techniques to protect your personal and/or business assets from creditors and/or former spouses. It’s incredibly important to work with an experienced estate planning lawyer who can help you build a protection plan that meets your unique needs and secures all of your assets. Asset protection is a key aspect to successful estate planning, whether it’s for your personal estate or for your business. If you require asset protection services, Orange County Estate Planning Attorney Kristin L. Yokomoto can help you create a customized asset protection plan to ensure your assets are secure now and in the future.
- Real estate
- Home equity
- Savings accounts
Asset Protect Against Creditors
During the estate planning process, it’s highly important to protect your assets and income from creditors’ claims and tax collections. There are many different entities that could sue you to recover damages and/or property, including tax collectors, credit card companies, accident victims, business creditors, and more. By establishing an enforceable asset protection plan, you can shield your precious assets from future creditors and people looking to take your money, property or assets. The harder and more complicated it is for creditors to try and obtain your assets, the less likely they will pursue further legal action against you.
Asset Protection Against Former Spouses
During the divorce process your former spouse may try to hide marital assets so they cannot be divided and distributed. Your former spouse may also try to dispose or sell your marital property without your knowledge or permission. Asset protection can help protect your assets from such acts.
Types of Asset Protection
Whether you are looking to protect your assets from your former spouse or from creditors, Orange County Estate Planning Lawyer Kristin Yokomoto can help you establish a solid, lawful asset protection plan. To protect yourself and your personal and/or business assets, Kristin can use a variety of estate planning tools to help you create:
- An irrevocable trust
- Limited liability corporations/partnership/company
- Limited liability insurance
- Family limited partnerships
- Insurance policies (automobile, home, life, umbrella)
- Transferring your assets to your spouse or trust
- Declaration of Homestead
- Non-profit corporation
- Off-shore trusts
Contact Orange County Estate Planning Attorney Kristin Yokomoto
If you are in need of asset protection services, it’s important to consult an experienced estate planning lawyer, as there is a fine line between asset protection and fraud. By working a knowledgeable attorney, you can take the necessary measures to protect your assets, while at the same time feel confident that you are abiding by all state and federal laws. Whether you require asset protection services against creditors or a former spouse, Attorney Kristin Yokomoto can help you keep your assets where they belong. When you retain the services of Attorney Kristin Yokomoto, she will sit down with you to evaluate your assets, discuss your best options, and help you create an asset protection plan that is just right for you and your specific needs.
If you are interested in speaking with an experienced Orange County estate planning lawyer who can help you create a plan that will protect your assets, please contact Attorney Kristin Yokomoto today at (949) 769-3448. Kristin also provides legal services to residents of San Diego County and Los Angeles County.