Irvine Asset Protection Attorney
With over 100 years of combined legal experience, our team is highly qualified to provide legal services for your most difficult family circumstances.
Irvine Asset Protection Lawyer
DeArmey Law: Orange County Asset Protection Attorneys
When it comes to protecting the things that are important to you, you want to work with someone that you can trust. Here at DeArmey Law, our attorneys share decades of experience working not only in estate planning and asset protection but in family law as well. We understand just how difficult planning for your future can be, which is why we provide legal services to make the process easier for you. If you or someone you love is looking for help protecting your assets in Irvine, do not hesitate to see how DeArmey Law can help you.
What Is Asset Protection?
Asset protection is the process of using different legal methods to protect your assets from “civil money judgments,” for example, creditors and other possible issues. Many people with important or expensive assets decide to use asset protection strategies to help their beneficiaries avoid taxes, legal claims, and other legal obstacles that could occur when they are transferred. Asset protection services can assist in providing security for assets such as homes and other properties, inheritances, investments, and more.
Why Do You Need Asset Protection Planning?
One of the biggest reasons people choose to use asset protection strategies is to avoid losing the assets that they have worked so hard to collect over the years. Without the proper protection, situations such as divorce, tax claims, legal claims, personal injuries, and moving into a nursing home can all potentially cause your assets to become vulnerable. With asset protection strategies, such as creating irrevocable trusts, you can legally protect almost any kind of asset from extenuating circumstances. By doing so, your assets can also avoid probate, which is a lengthy process that divides your assets when you pass. Because irrevocable trusts are not subject to probate, the assets being passed on do not have to be taxed or divided.
How an Asset Protection Lawyer Can Help You
If you are looking to shield your assets when you pass, an asset protection attorney can benefit you in multiple ways, including:
Knowledge of the Law
While asset protection is legal, there are a variety of important rules and regulations that need to be followed while doing so. For example, it is illegal to specifically put something into a trust because you know a creditor is already trying to come for it. Our lawyers have extensive knowledge of the law and can help you navigate the complicated aspects of asset protection while still helping you shield them correctly. This way, you can trust that your assets are protected legally.
Create a Strategy Unique to Your Situation
The asset protection strategy that you use will depend largely on aspects such as the assets you want to protect, where those assets are, and who you are looking to pass them on to if applicable. Our Irvine asset protection attorneys can assist you in creating a strategy that fits your unique needs and protects your assets properly. For example, someone looking to protect the inheritance of their child may need a different strategy than someone who is looking to protect property investments.
Protect Assets from Outside Circumstances
An asset protection attorney can help you best shield your assets from outside circumstances. Rather than a simple estate plan with a will, our asset protection lawyers can help you create things such as irrevocable trusts to assist your beneficiaries in avoiding the probate process and other possible issues. Probate is one of the largest obstacles the process of asset division faces when a person passes, which is why putting assets in a trust can make things much easier on the beneficiaries involved. Your attorney will assist you in creating a strategy that shields your assets from situations such as divorce, personal injury, and more.
Q: How Do I Protect My Assets From a Lawsuit in California?
A: By working with an asset protection attorney, you can use a variety of different methods to keep your assets out of the hands of creditors and other parties trying to reach them in the future. These methods can include placing your assets in one of a variety of trusts, which will keep your assets safe in a variety of situations.
Q: Does California Offer Asset Protection Trusts?
A: In Irvine California, there is no specific asset protection trust. Instead, you can use strategies such as creating an irrevocable trust, like a discretionary trust, to protect your assets. This will help you keep control of your assets and determine what happens to them if you pass away or become incapacitated.
Q: How Do I Protect My Assets From Estate Planning?
A: For people looking to avoid the hassle of creating an entire estate plan, the easiest way to protect your assets and pass them down to your loved ones is by creating an irrevocable trust with the help of an attorney that you trust. They can guide you through the process so that you can make informed decisions that best suit your needs.
Q: Can a Revocable Living Trust Protect My Assets?
A: A revocable living trust does not offer the same protection of assets as an irrevocable trust because, when it is revocable, the creator of the trust is still the owner of the assets. Consulting with an asset protection attorney can help you decide which kind of trust is best suited for your specific needs.
Irvine Asset Protection Attorneys
When it is time to start thinking about your future, you do not need to do it alone. Here at DeArmey Law, we know that planning your future and protecting your assets can be difficult. That is why we are dedicated to helping individuals across Orange County create legal strategies that make them comfortable with what lies ahead. Whether you are looking to shield an inheritance or you have properties you want to protect, DeArmey Law can assist you with protecting your assets in Irvine, California. To learn more about our services, our team, or how we may be able to help you, contact us today for more information.
Trusted by the Southern California Community for More Than 40 Years
With over 40 years of combined legal experience, our team is highly qualified to provide legal services for your most difficult family circumstances.