Grand Blanc Asset Protection Lawyer

Helping Clients Protect Their Assets

When you are looking to protect your assets, it is important to have an experienced attorney by your side. At CFlegal, PC, our experienced asset protection lawyers can help you protect your assets during a divorce, in the event of a death, or in any other situation where assets may be at risk. We offer a free initial consultation, and we can help you determine how best to protect your assets.

Call (810) 292-3115 or contact us online to schedule your initial consultation with our Grand Blanc asset protection lawyers.

What Is Asset Protection?

Asset protection is a legal strategy that is used to protect an individual's assets from creditors, judgment creditors, or other individuals who may be seeking to obtain a financial benefit from the individual's assets. Asset protection can be used to protect an individual's assets from any type of legal claim, including claims related to divorce, bankruptcy, or criminal charges.

Asset protection can be achieved through a variety of legal structures, including trusts, limited liability companies, or corporations. It is important to choose the right structure for your specific needs, as some asset protection structures are better suited to protect assets in the event of a death, while others may be more appropriate for protecting assets during a divorce. Additionally, it is important to have an attorney who can help you decide which asset protection structure is best for you, as some structures may be more heavily regulated than others.

What Types of Assets Need to Be Protected?

There are many different types of assets that may need to be protected from a variety of different threats. Some of the most common threats to an individual's assets include:

• Divorce - In the event of a divorce, it is important to protect assets that may be at risk of being obtained by a soon-to-be ex-spouse. This includes assets like a house, a business, or a retirement account.
• Death - In the event of a death, it is important to protect assets that may be at risk of being obtained by an heir, such as a child, a spouse, or a grandchild. This includes assets like a house, a business, or a retirement account.
• Bankruptcy - In the event of bankruptcy, it is important to protect assets that may be at risk of being obtained by a creditor. This includes assets like a house, a business, or a retirement account.
• Litigation - In the event of a lawsuit, it is important to protect assets that may be at risk of being obtained by a judgment creditor. This includes assets like a house, a business, or a retirement account.

What Types of Asset Protection Structures Are Available?

There are several different types of asset protection structures that may be used to protect assets from a variety of threats. Each asset protection structure has its own benefits and drawbacks, and it is important to choose the right structure for your specific needs. Some of the most common asset protection structures include:

• Living trusts - A living trust is a legal structure that is intended to hold assets for the benefit of another individual. A living trust can be used to hold assets for the benefit of a minor, a spouse, or another individual, and assets held in a living trust are not subject to creditors' claims. However, living trusts can be costly to create and maintain, and they may not be the best option for protecting assets during a divorce.
• Trusts - A trust is a legal structure that is intended to hold assets for the benefit of another individual. Trusts can be used to hold assets for the benefit of a minor, a spouse, or another individual, and assets held in a trust are not subject to creditors' claims. Trusts are often less costly to create and maintain than living trusts, and they may be a better option for protecting assets during a divorce.
• Limited liability companies - An LLC is a legal structure that is intended to hold assets for the benefit of another individual. An LLC can be used to hold assets for the benefit of a minor, a spouse, or another individual, and assets held in an LLC are not subject to creditors' claims. However, LLCs can be costly to create and maintain, and they may not be the best option for protecting assets during a bankruptcy.
• Corporations - A corporation is a legal structure that is intended to hold assets for the benefit of another individual. A corporation can be used to hold assets for the benefit of a minor, a spouse, or another individual, and assets held in a corporation are not subject to creditors' claims. Corporations are often less costly to create and maintain than LLCs, and they may be a better option for protecting assets during bankruptcy.

Call (810) 292-3115 or contact us online to schedule your initial consultation with our Grand Blanc asset protection lawyers.