As we become more successful in business and in life, protecting our hard-earned assets can become a concern. What happens if you seriously injured someone in an automobile accident? Would they be able to take everything you own, including your business?
The first thing to know is, there is no absolute guarantee that the measures you take to protect your assets will result in zero liability against you. However, these efforts may put you in a better position to negotiate a more favorable settlement. While the law allows us to arrange our affairs in a way that puts a protective barrier around our wealth, many conditions and exceptions still apply. For example, we cannot transfer ownership of our assets out of our name in hopes of protecting them if we are involved in a lawsuit or have a reasonable expectation that a legal action against us could arise in the future.
Depending on your specific needs and circumstances, liability from internal and external threats can be managed using a combination of multi-member holding companies, irrevocable trusts, limited partnerships and in rare instances, offshore domiciliation of assets. LPI’s Team of qualified asset protection planning attorneys is equipped to provide you with the information and advice you need to make fully-informed decisions about protecting your assets.
High Net Worth Individuals
High net worth individuals (HNWI) require extra care and specialized planning in order to minimize their exposure to personal liability, both internal and external. Most of us lack the professional resources we need in order to design a state-of-the-art plan designed to mitigate potential liability. LPI’s team of highly-qualified attorneys can provide you with the information and advice you need in order to plan effectively for the risks we face in everyday life.
High Risk Professionals
High-risk individuals are business owners, physicians, financial advisors, and lawyers who are open to more liability than other professionals. HRP or High-Risk Professionals need support to protect themselves and their families from risks associated with their exposure to liability.