Do you want to protect your financial assets from potential liability and risk? There are many legal ways that you can shield your assets from potential creditors, frivolous lawsuits, and other risks. However, successfully protecting your assets requires an in-depth understanding of Nevada business and probate law.
At Taylor & Leonard Law, we have more than a decade of experience helping clients protect the assets they have worked so hard to obtain. We can help you perform a thorough assessment of your current financial situation, including any potential risks that may be looming. Using our deep understanding of the law and asset protection strategies, our Henderson estate planning attorneys can help you put a comprehensive asset protection plan in place. Call us today at (702) 982-0880 to schedule a free consultation with a Henderson asset protection attorney and let us go to work for you.
Why Choose Taylor & Leonard Law?
When your assets and livelihood are potentially at stake, you don’t need just any attorney. You need an attorney who truly cares about helping their clients achieve their goals. At Taylor & Leonard Law, we will take the time to get to know you and your personal situation. Clients in Henderson choose us because we:
- Have in-depth knowledge and experience with Nevada business and probate law
- Allow our clients to have direct access to their attorney without going through layers of assistants
- Keep our prices affordable by utilizing personalized representation strategies
When you choose us, you will get the perks of a small firm but with big firm experience. Give us a call today to let us learn more about your situation and begin to craft an asset protection plan that helps you meet all your needs.
What Is Asset Protection?
Asset protection is the legal process of structuring your wealth and assets to prevent exposure to creditors, lawsuits, and other risks. Asset protection is completely legal and is a great strategy used to provide financial peace of mind. Asset protection does not involve hiding assets, evading taxes, or other unlawful behaviors. Instead, it involves putting legal structures in place, such as proper business entities, trusts, insurance, and other tools, that can prevent your assets from being exposed to many types of potential liabilities.
Benefits of Hiring a Henderson Asset Protection Attorney
The thought of losing the things you have worked so hard for to a frivolous lawsuit or creditor may be a little unnerving. Without a comprehensive asset protection plan in place, your assets could be exposed to liabilities and risks such as these. A knowledgeable and experienced asset protection attorney can help you ensure that your assets are properly protected. An attorney can help you by:
- Reviewing your personal situation, including assets and debts, to identify your best strategy
- Advising you of your legal rights and options
- Drafting all necessary legal documents to put your asset protection plan into action
- Representing you in court should any disputes or issues arise
Trying to navigate the complex legal process of asset protection on your own might not turn out the way you had planned. When your assets may be exposed, get the help you need from an experienced attorney. Call Taylor & Leonard Law today to schedule a free consultation and let us put our experience to work for you.
Common Documents Used for Asset Protection
A proper asset protection plan can get quite complex. In most situations, there is no single document that can be used to achieve complete and holistic asset protection. Instead, an asset protection plan usually involves several different legal documents that can all work together to help you achieve your goals. Some of the most common documents used for asset protection include:
- Business formation documents: If you own a business, having the right business structure in place can be critical to protecting your personal assets from exposure. Limited liability companies (LLCs) are a common option for small business owners who wish to protect their assets.
- Last will and testament: A valid last will and testament is another common document used as part of an overall asset protection plan. Your will is used to direct how your assets will be distributed upon your death, so this can help avoid confusion and conflicts about where your assets should go.
- Irrevocable trust: Trusts are powerful legal tools that can be used to transfer wealth from one generation to the next. Specifically, irrevocable trusts can have some valuable tax advantages as well as give you the ability to shield certain assets from risks and liabilities.
- Insurance policy: An insurance policy can be a simple way to protect yourself from liability. Instead of exposing your own assets, you can simply purchase insurance to cover certain types of losses instead.
Putting together a complete and comprehensive asset protection plan starts with a thorough review of your current situation. At Taylor & Leonard Law, we are ready to help you create a personalized plan to protect your assets. The sooner you get started, the sooner you can breathe easy knowing that you have this protection in place.
What Happens if I Don’t Use an Asset Protection Plan in Nevada?
Failure to put an asset protection plan in place could have some serious consequences. For example, if you are a business owner, a business dispute could put your personal assets and finances at risk. This could cause you to lose out on long-term financial security and wealth preservation.
Asset protection can also help protect your family’s financial future. Preserving your wealth is crucial to providing for the long-term financial security of your family, and the asset protection process is one way of ensuring that your wealth stays where you want it in the future.
Call a Henderson Asset Protection Attorney Today
If you are ready to explore the details of an asset protection plan for your situation, call the experienced team at Taylor & Leonard Law today. We can help you fully understand your options and work with you to put a strategic plan in place that meets your needs and helps you attain your goals. Contact us now to schedule a free consultation with a Henderson asset protection attorney and get started.