Chicago Asset Protection Lawyer
More lawsuits are filed in the United States than the rest of the world combined. While many of these suits seem frivolous, you never really know what a judge or jury will decide. This explains why Asset Protection Planning is so very important, and why you should consult with a law firm that has experience in this complicated area of the law.
Many people wonder what they need to do to protect their assets. Your plan should protect you and your spouse from predators looking to make a claim on your assets while you are alive, and protect your children’s inheritance against creditors and predators after you are gone. In the latter situation, the plan should address
issues like ensuring your child’s inheritance is safe if he or she gets divorced and/or remarried. In addition, grandchildren may need protection to make sure they receive their inheritances if your child dies and your son-in-law or daughter-in-law remarries. Unfortunately, your very own children might even need protection from their own poor decisions if they are not ready or able to handle a large inheritance, or worse, they suffer from drug or alcohol dependency.
In order to get the full benefits of any Asset Protection Plan, it must be designed and implemented before you find yourself in financial difficulty. Waiting until a lawsuit looms or creditors call will make the protection of your assets far more complicated, costly, and expose you to legal liability. Contact us today for a consultation to discuss your specific asset protection needs and goals.