Full Video Transcript
Asset protection relates to a range of tactics people use to shield their assets from loss, whether from a lawsuit or unforeseen financial problems. Asset protection can be accomplished in many ways, depending on your circumstances. For instance, certain assets may be transferred into a corporation or other business entity that enjoys limited liability protection. Assets can also be assigned to a spouse or transferred overseas. The mechanisms can be complex, and an experienced lawyer should be consulted. Don't listen to those too-good-to-be-true offers from companies claiming they can completely shelter your assets. There are many laws in place regarding legal asset protection, including tax laws and fraudulent transfer laws. For more information about asset protection, contact an experienced attorney in your area today.