Asset Protection & Wealth Preservation

Design an asset protection and wealth preservation plan to protect your assets from creditors, predators, and lawsuits.

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Asset Protection Trust
(Domestic & Foreign)
Private Retirement
Plans
LLC’s, Corporations & Partnerships
Asset Protection Trust
(Domestic & Foreign)

Don’t Live in Fear of Losing Your Assets

We know, we know, you probably don’t think you could ever be sued and yet over 20 million people were subject to a lawsuit in the last year. Don’t let this be you.

Divorce, inheritance, health issues, creditors, employees, theft, changing markets, malpractice suits, sexual harassment claims, natural disasters, and disgruntled business partners are just a few issues that can result in devastating lawsuits for unprepared business owners. The highest level of risk falls on those who think it would never happen to them.

You’ve worked hard to build your wealth and achieve your financial goals. Now is the time to set up your asset protection plan to protect your loved ones.

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  • Protect your asset from creditors, predators, and lawsuit
  • Make sure your wealth is preserved for your retirement ages and beyond
  • Determine the appropriate level of asset protection planning for your unique circumstance
  • Get a customized asset protection plan that considers every aspect of your business and life
  • Rest assured knowing that your assets will be protected, both when you are alive and after you are gone

Orange County Asset Protection Attorney

You have spent your entire life building your business and acquiring assets; it is critical that you are proactive in securing them. Unexpected events—including lawsuits, divorce, or creditor claims—can suddenly wipe out your life’s savings and possessions. An Orange County asset protection attorney can help you preserve your wealth, ensuring that you have peace of mind.

What Is Asset Protection Planning?

Asset protection planning is a preventive legal strategy for safeguarding your assets against creditors, lawsuits, taxation, and other potential losses. A comprehensive plan entails a set of legal strategies that can help avoid devastating losses. Furthermore, it can protect you from losing your business entirely.

Creating a limited liability company (LLC) and/or an asset protection trust and taking advantage of state and federal exemptions are just a few options. Some plans involve overseas components in foreign jurisdictions with more protective legislation.

Asset Protection Strategies

Below are three common legal strategies for protecting your assets against lawsuits.

Incorporating LLCs

LLC laws prohibit creditors from seizing your company or its assets. A creditor maintains the right to collect money due, and a court can order a lien—known as a charging order—in which a portion of incoming funds will be paid to the creditor, similar in process to garnished wages. This allows you to pay back any owed money without fear of losing your business.

Asset Protection Trusts

This is the most beneficial option for professionals and business owners whose personal wealth makes them particularly vulnerable to lawsuits that put their assets at risk. Asset protection trusts are a type of irrevocable trust, meaning that only the beneficiaries can make changes to the trust. You serve as the trustee and benefactor of this trust, which holds assets such as property, equities, bonds, cash, valuables, and automobiles discreetly. They can be either domestic (in certain states) or established overseas. Furthermore, when shielding your assets against a marital separation, you may elect to adopt an asset protection trust rather than a prenuptial arrangement.

Umbrella Coverage

When you need comprehensive insurance, umbrella policies are your answer. Your umbrella coverage will activate after your other insurance policies have been exhausted. For example, if someone trips and falls in your building, your liability insurance will only cover so much, and then your umbrella policy will come into effect, thereby protecting your assets from being liquidated.

What Level of Protection Do You Need?

Below is a list of six levels of asset protection:

  • Insurance: Consider purchasing an umbrella policy in addition to your homeowner’s, liability, medical malpractice, and other policies.
  • Exemptions: Some assets are automatically exempt from seizure under state and federal law.
  • Estate Planning: Update your will, living trust, and powers of attorney. Ensure that these documents agree with each other so that your estate does not have to go through probate.
  • LLCs and Other Limited Liability Entities: As discussed above, an LLC protects your business and assets from being seized by creditors. Instead, any earnings due to the LLC could be garnished through a charging order.
  • Spendthrift Clause: California does not currently allow for domestic asset protection trusts (DAPTs) in its legislature. There are currently only 16 states that allow for DAPTs. However, incorporating a spendthrift clause in your irrevocable trust, which names your children as the beneficiaries, prevents your assets from being available to creditors.
  • Offshore Asset Protection Trusts: Residing outside of US court jurisdiction, assets held in offshore asset protection trusts are held in the highest level of protection.

How an Orange County Asset Protection Attorney Can Help

Being well-versed in asset protection laws is essential for efficiently safeguarding your wealth. This includes subjects like property ownership, wills, inheritance, taxation, and trusts. Your Orange County asset protection lawyer will educate you on the essentials of how you can protect your possessions against creditors and lawsuits.

As part of establishing your asset protection plan, a skilled attorney will identify your long- and short-term objectives. They will counsel you on any property-related concerns, particularly those that may arise if you pass away or become disabled. Your lawyer will also aid you in putting together an asset protection strategy that is tailored to your specific investment goals.

Finding the Best Orange County Asset Protection Attorney

As a business owner, you need to ensure that your business and assets are protected in the event that the unthinkable happens. If someone files a lawsuit, such as a premises liability claim, or a disgruntled business partner attempts to sweep the rug out from under you, it’s important to be prepared. You need an Orange County asset protection lawyer who has vast experience in asset protection strategies. Call today to book your planning session so we can address your concerns and your goals for the future.

Frequently Asked Questions

How do I protect my assets in California?

The first step is making sure that you are adequately insured and have a solid estate plan in place. Next, you should contact a law firm specializing in asset protection in order to safeguard your business and your assets.

What is the best asset protection strategy?

Each case is different, depending on your assets. A small business owner will not have the same requirements as someone who owns a large corporation. The best asset protection strategy is the one you devise with your lawyer, who may suggest ideas that you may not have otherwise considered. An expert in asset protection is a vital ally for any business owner.

Do I need a lawyer to protect my assets?

While many elements of asset protection can be established on your own, it is crucial to consult with an Orange County asset protection attorney to ensure that you are meeting all of the legal requirements and addressing any potential holes in your planning. It would be devastating to be blindsided by litigation that liquidated your assets due to an oversight in your asset protection plan. A skilled asset protection lawyer will provide you with a thorough, comprehensive asset protection strategy so that you can rest easy, knowing that your business is in safe hands.

“Working with Josh to figure out the best plan of action for my private practice business needs was an absolute lifesaver. He helped me identify items that needed to be corrected (that were set up incorrectly by a previous professional), we talked strategies for marketing upcoming projects and he warmly and confidently answered all the questions that I thought were “silly” and a little worried to ask. Josh provides you with clear and concise steps to take before you even meet which helps you arrive to your first session prepared and streamlines the process. I highly recommend working with Josh Meier for any and all of your small business needs – no matter how big or how small.”

— Robyn D., Laguna Hills, CA

1 Book a Planning Session
During our introductory meeting, we’ll discuss your unique circumstances and figure out the right protection strategy for you.
2 Determine Level of Protection
We’ll determine the appropriate level of asset protection that you need both for when you are alive and after you are gone.
3 Design & Implement Your Plan
We’ll layer customized combinations of different protection strategies depending on your needs and then implement your plan.
4 Support for Life
When you work with us, you can rest assured that you’ll be protected now and later in life. You can always turn to us for guidance and support!
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“If you’re looking for a law firm that you can trust, knows what they’re doing, simplifies everything, and are just great people you should work with Josh and Laura.  They helped us create our family trust along with our family businesses’ buy-sell agreements.  Now we come to them for any legal advice that we can think of without hesitation. Wish I had met them earlier but hey it’s never too late”

— Mackihitzu N., Gardon Grove, CA

Gain peace of mind knowing that you have a customized asset protection plan in place.

Design an asset protection plan with the Meier Law Firm today and get the protection you deserve.

Book A Planning Session
Call Us Today!