623-888-6340

Wealth Preservation

Wealth preservation involves managing your assets in such a way to ensure that the value of your assets does not decrease or erode. With wealth preservation objectives, the notion of maintaining existing wealth is more important than making more money. Many issues come into play with wealth preservation such as inflation, life insurance, retirement planning, long-term care, proper asset allocation and protection against capital market risk. Wealth preservation also involves estate planning strategies that help mitigate the effects of taxes, exit and succession strategies from businesses, and tax-advantaged investments that are intended to maximize income while minimizing tax burdens.

While we are not financial planners, we will work with your financial planner to ensure that your estate remains intact and that you can get the most beneficial tax treatment available.

Asset Protection

Asset protection planning is about protecting your assets from creditors — and it is not just for the super-wealthy.

Anyone can get sued. Lawsuits can stem from car accidents, credit card debt, bank foreclosures, or unhappy customers, among many other things. If someone wins a monetary judgment against you, your family could become bankrupt trying to pay it off. To keep your assets away from creditors, you need to move them somewhere where creditors can’t reach them. Asset protection techniques include maximizing contributions to IRAs, moving funds to an irrevocable trust, retitling various assets, or using limited liability companies or family limited partnerships.

To develop an asset protection plan, you need to contact our office. We can discuss your short- and long-term financial goals and help you create a plan that will work for you.

It is important to note that asset protection planning only works if you act before you are sued. Under the law, you may not defraud current creditors. We have had people come to us after being sued, or knowing that they might be.  If you are already being sued or if you know you are going to be sued and you transfer assets so that creditors can’t reach them, the court will reverse the transfer. In California, it is considered to be a criminal offense not only for the one being sued, but for anyone who actively aids in the transfer of assets. That is why it is a good idea to put a plan into place now — before it is too late.

For more information on asset protection planning, complete the form below