As you acquire assets, such as property or cash, you might falsely believe that nothing can take those away from you. The truth is that unprotected assets could be exposed to risks from lawsuits, creditors, or other liabilities. If you own a business, your personal assets might even be at risk if they are not properly safeguarded.
To help ensure that your assets are protected, you likely need the help of an experienced attorney who is well-versed in both business and probate law. The Las Vegas estate planning lawyers at Taylor & Leonard Law have the experience you need on your side to make sure that your assets do not fall victim to unexpected circumstances. Give us a call today at (702) 982-0880 to let us learn more about your personal and financial situation and put together an asset protection strategy that works for you.
Why Hire Us at Taylor & Leonard Law?
The legal process of protecting your assets is a complex one. One wrong step could leave your assets exposed, and this could have dire financial consequences in the event of legal trouble. To properly protect your assets, you need an experienced attorney who will take the time to thoroughly uncover every detail of your situation and put together a comprehensive strategy to help achieve your goals. Taylor & Leonard Law is the right choice during these times because:
- We have a deep understanding of Nevada law and how to use it in your favor
- We give you a small firm feel while having the experience of a large firm
- We strive to maintain affordable pricing through efficient and personalized representation
When it comes to protecting your assets, there is no one-size-fits-all approach. Our dedicated and experienced team will take the time necessary to put together a customized approach that fits your unique situation. Call us today to learn more about how we can help.
Why You Need a Las Vegas Asset Protection Attorney
There are many legal complexities associated with asset protection. Not only can the documents required for proper asset protection get complicated, but some strategies even involve international law and the creation of offshore trusts. Putting one of these complex strategies in place requires the assistance of an experienced asset protection attorney with in-depth knowledge in this area of law. An experienced attorney can:
- Assess your current situation to determine your best options
- Create all necessary legal documents to put your asset protection plan into motion
- Recommend offshore trustee companies that can help manage your assets
- Represent you in court, should someone try to expose your assets
The team at Taylor & Leonard Law has the experience you need on your side when you need to keep your assets safe from lawsuits, creditors, and more. Call us today to let us learn more about your unique needs and get started creating your asset protection plan right away.
What is Asset Protection?
Asset protection is the process of putting legal structures in place to keep your assets safeguarded from potential liabilities. Proper asset protection does not include illegal activities, such as hiding assets or using improper methods to evade taxes. Asset protection is a fully legal process that an experienced attorney can help guide you through to provide protection for your hard-earned finances and other assets.
Common Methods Used to Provide Asset Protection
Asset protection is a comprehensive process that involves a holistic view of your finances and personal situation. In most cases, there is no single document that can provide complete protection for you. Typically, multiple documents and structures are needed to accomplish the overall protection goals that most individuals have. Some of the most common methods used for asset protection in Nevada include:
- Irrevocable trusts: A trust is a common legal tool used in estate planning, and irrevocable trusts are a specific type of trust with very specific rules. Irrevocable trusts can provide outstanding tax benefits and protection from risk, as well as give you the ability to maintain some control over your assets.
- Offshore trusts: Offshore trusts are one of the most powerful asset protection tools available, and they can be a great option for individuals who need to maintain confidentiality while minimizing their risk.
- Business entity formation: If you own a business, your personal assets could be at risk unless you have a proper and legal business entity structure in place. An LLC is a common business structure used to help individuals protect their personal assets from business liabilities.
- Last will and testament: A will is a common document used in estate planning, and it should likely be part of your overall asset protection plan as well. A valid will can help ensure that your assets are distributed according to your wishes after your death.
- Liability insurance: Liability insurance is a great way to pass your risk on to another party. In this case, the insurance company agrees to assume the risk for certain losses in exchange for the payment of regular premiums.
Call Taylor & Leonard Law today to let us help you evaluate which documents and strategies are right for your situation.
Determining the Right Asset Protection Strategy
The right asset protection strategy for you depends on your unique situation. You must first conduct an open and thorough examination of your current financial situation as well as a comprehensive assessment of your overall risk and liabilities. The strategy that works in some situations might not be the best approach for you. The experienced team at Taylor & Leonard Law can help you go through every detail to make sure you get the right strategy in place to protect all of your assets.
Schedule a Consultation With a Las Vegas Asset Protection Attorney
If you need help protecting your assets, contact the experienced team at Taylor & Leonard Law today. We will take the time to fully understand your needs and help you put the best strategy in place to preserve your wealth. Contact us today to schedule a free consultation with a Las Vegas asset protection attorney and let us put our experience to work for you.