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This involves a series of legal measures that can help to deter a lawsuit or help prevent the seizure of your assets after a judgment. Having a solid plan in place forces legal opponents to quickly recognize the difficulty in pursuing a claim.
That alone can cause them to potentially settle for a very small percentage.
Essentially, you have the option of employing a variety of legal techniques that are implemented to deter creditors from pursuing you, and to aggravate them if they attempt to do so. These concepts are designed to make it complicated for your assets to be taken or a judgment collected.
Asset protection services typically encompasses legal concepts, to be determined by an attorney, and asset protection strategies.
The most common assets involved in asset protection strategies include liquid cash assets, investment real estate and equity or registered securities.
Asset protection strategies may be limited to legal entities, trusts and other tax or asset protection vehicles, depending upon the asset being considered for asset protection. However, an asset protection tool can be as common as an umbrella policy or even the simple legal titling of an asset.
In closing, it is imperative that you implement asset protection techniques prior to the actions of a legal predator to gain control or possession.