The main focus of Breglio Law Office is our Asset Protection strategies. Protecting your assets is a movie, not a photograph. It is something that must adapt and change over time and according to your particular situation. Thus, it is something you need to continually evaluate and modify. It is not something you “do” and then forget about.
Further, there is no one way to protect your assets. There are many opinions and packages, and some are better than others!
- Watch our Free Videos on Asset Protection Basics Here!
- Watch our Free Videos on Advanced Asset Protection Here!
Breglio Law Office is committed to making you successful in your professional endeavors, and therefore takes an individualized approach to helping our clients protect their assets. We always recommend whatever works best for you, your current asset situation, your goals for acquiring new assets, your risk aversion, your unique abilities, as well as your stage in life. This personal approach might take more discussion up front, but provides far better long-term results.
When thinking about protecting assets, you need to ask yourself a few questions:
- What am I protecting?There are many types of assets, from bank accounts, to stocks, to jewelry & family heirlooms, to business ownership, to rights to income streams, to real property and so forth. Some things fall in the category of business assets and others are personal assets. The way you protect an asset depends on what you are trying to protect.
- Who am I trying to protect it from?You might be worried about creditors if you have large outstanding debts, or you might be worried about lawsuits from tenants in a rental property. Maybe you’re worried about an ex-spouse. Liability comes in different forms depending on where it’s coming from.
- Where is the asset located?You could be holding large amounts in cash in your mattress, a bank or even an off-shore account. Or perhaps it’s a rental property located in a different state from where you live. Maybe you have assets sprinkled all over the place.
- When are you trying to protect it?This isn’t an obvious question one might ask, but it is important. So, are you trying to protect your assets from a future threat, or are you currently being pursued? The ramifications of the answer need to be discussed with an attorney.
- Why are you trying to protect the asset?It’s important to know your goals in seeking asset protection. Protecting an asset until such time you want to enjoy it, or sell or transfer it in the due course of business is very different than protecting the asset in order to leave it to your children.
- How do you want to protect it?This is the final question. It takes into account your risk aversion, the value of the asset, what liability you run (personal or professional or both) and what steps will make YOU comfortable.
As you see, there is no silver bullet, no one way. That’s why we don’t give you an answer here. There are too many variables in addition to your personality. Please feel free to contact us and we’ll be happy to discuss your situation and goals before we make a recommendation.
THIS INFORMATION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL ADVICE. PLEASE CONSULT AN ATTORNEY.