Orange County Asset Protection Lawyer
With over 100 years of combined legal experience, our team is highly qualified to provide legal services for your most difficult family circumstances.
Orange County Asset Protection Attorney
Working hard and earning what you have is a cornerstone of the American workplace. Many people work their entire careers to provide for their families and save for the future. Though this can be an incredible source of pride, most people don’t realize how easy it isto lose so much through legal battles and bankruptcy cases.
If you have a significant amount of assets or property, you can protect them by hiring an asset protection lawyer. Asset protection is becoming increasingly popular and necessary, as laws continue to change and evolve. The more assets you have, the more important it is to remain within the confines of the law and ensure that you are doing everything correctly and legally.
Asset protection planning is similar to estate planning and trust administration. Attorneys in this realm help you to plan for the future and defend your property in court if a legal situation arises. With the help of a qualified CA asset protection attorney, you can make sure that your real estate, monetary assets, and beneficiaries are all protected from punitive legal action.
DeArmey Law: Your OC Asset Protection Attorneys
When it comes to asset protection strategies, no firm in the Orange County area has more experience than our team at DeArmey Law. With over 100 years of combined experience, our lawyers have been protecting our clients’ important achievements for a very long time.
We understand the importance of preserving your life’s work and family legacy, so we use the full extent of the law to ensure that your property is protected from potential legal action. What’s more, our services can help keep you and your family out of trouble and help you navigate the complicated world of estate planning, trust administration, and asset protection.
We believe that hard work is a vital part of our American society, and you should be able to preserve the assets that you earn. We are here to do just that and ensure that your descendants and beneficiaries have access to what is rightfully theirs when the time comes.
What Is Asset Protection?
Though asset protection is becoming increasingly necessary and powerful, many people do not understand what it means. This area of law is generally not complicated, though individual cases can become contentious under the right circumstances.
Asset protection is a facet of the legal system in which an attorney works with you to create an asset protection plan. Your assets include things such as homes and properties, high-value items, stocks and investments, savings, and more. These plans are formulated to keep these items safe and protect you from different liabilities, legal cases, creditor issues, and other problems that can arise when you own a significant amount of property.
It is easy for legal problems to occur when you own significant assets. Laws surrounding your estate are often confusing and change based on the amount and the type of assets that you possess. Asset protection helps to ensure that you are doing everything correctly and legally, allowing you to relax and enjoy the lifestyle that you have built for your family.
Why Do I Need an Asset Protection Lawyer?
Lots of people believe that they have done everything correctly when it comes to their assets, and therefore they do not need an asset protection attorney. This mindset is not accurate and can result in significant issues for you and your family.
An asset protection attorney helps to assess your assets and determine what you can do to keep them safe. We understand the intricacies of asset laws, and we are always abreast of any changes that may occur. This keeps your property safe and deters any lawsuits or suspicions that may arise surrounding your assets and their validity. If needed, we can advise you on how to restructure your assets to better protect yourself and your family from unwanted legal action.
We can also assist you in the estate planning process, meaning that you can ensure that your assets are secure after you are gone. Estate planning is complicated and highly dependent upon the types of assets that you possess and what you wish to do with them once you pass. Without estate planning or asset protection, your assets can be consumed by probate, and your beneficiaries could get less than they deserve. Without an asset protection attorney, you may miss out on key estate planning avenues that could preserve your estate and legacy.
Creating an Asset Protection Plan
A key function of an asset protection attorney is creating an asset protection plan. Every family’s assets and family dynamic are different, so it is impossible to say which asset protection strategies will work best for you.
Our attorneys will work with you to create a personalized asset protection plan that benefits your family. We will discuss the assets that you possess and what your goals are for the future of those assets. We will also talk about your family’s dynamics and the strengths and weaknesses of individuals in your family. This can help us to create an estate plan that will achieve your goals for your assets and proceed smoothly for your family as well.
Asset protection is one of the most caring actions you can take for your family’s future wellbeing. By hiring an asset protection lawyer, you are giving yourself and your loved ones the gift of peace of mind and security.
Types of Asset Protection
There are many different kinds of asset protection that may benefit you and your family. Your ultimate strategy will depend upon your unique situation and objectives. These are some different kinds of asset protection strategies that may be available to you.
Limited Liability Company (LLC)
Creating an LLC for your business is a significant way to protect your family and assets. When you have an LLC, your personal assets will not be harmed if a legal case arises against your business. If you do not have an LLC, your personal assets could be seized as part of the case, and you may lose all of your property in a legal battle. With an LLC, your personal assets remain separate from your business and cannot be harmed if legal issues occur.
Creating an LLC is easy and highly effective when done correctly. When you form an LLC with the help of our experienced asset protection attorneys, you can be sure that your LLC is strong, effective, and provides exemplary protection for your assets.
In some situations, liability insurance is beneficial for protecting your assets. This insurance can help to minimize your financial vulnerability in the event that a legal case arises. Liability insurance is a strong and easy way to protect you from potential legal action. Though this type of insurance is used less frequently than other types of insurance, it is extremely beneficial to have when a situation does arise.
Contributions to Retirement Accounts
According to ERISA laws, money that is in certain retirement accounts and pension plans cannot be affected by particular legal cases. We can help you to determine if making contributions to your retirement accounts may help to keep your money and assets safe in case of a legal issue.
We may be able to draft certain contracts or legal agreements that protect your assets from the actions of creditors. Though this is not possible in every situation, these documents can be a significant help if you become involved in a battle with creditors. We can give you more in-depth information about these contracts and agreements if they may help your situation.
Creating a trust is a significant protection for your future beneficiaries and for yourself. A trust helps to keep your assets separate so that, many times, a legal case or creditor cannot touch them. When you have a living trust, your assets remain yours but are held by a trustee. You can still access and use your assets, but if someone tries to claim ownership over these assets, they are protected by the trustee. When you pass, these items often avoid probate court because they are technically under the ownership of the trustee, not you. Therefore, the person holding the assets is still alive, and probate court laws don’t apply in the same way.
Trusts are a strong, reliable way to protect your assets and help to keep your family’s future preserved. Many people use trusts, and there are lots of resources for both you and your family if you choose to use a trust. Our attorneys are highly trained to create and manage trusts, and we can help you to integrate this tactic into your asset protection plan.
Contact DeArmey Law
With over 100 years of combined experience, our attorneys are ready to help you with any asset protection issue that may arise. Whether you have control over vast resources or have created a modest nest egg for yourself, we can help you to protect it so it may be available for generations to come.
For more information on how we can help you protect your hard work and family, contact DeArmey Law today.
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.