As an extension of estate planning, our attorneys assist clients in protecting their assets from the reach of creditors, as well as ensuring that the inheritance our clients leave their heirs is protected from the claims of creditors and the claims of spouses in the event of divorce. Techniques include partition planning, utilizing homestead exemptions, and transferring assets to family limited partnerships. In addition, gift trusts and beneficiary designations for IRAs, pension plans, and other retirement plans are incorporated into the overall estate plan. Business owners with large accounts receivable can also utilize techniques that involve pledging such accounts receivable to provide protection for those assets.
We also advise businesses on ways to minimize taxes, protect the business and its owners from liability exposure, and plan for business succession at death or retirement. In the current environment, individuals are seeking the firm’s services more and more for asset protection purposes, including protecting their children’s inheritance from creditors, divorce, and taxes. Foresight and advance planning can significantly impact your ability to provide security for future generations.