At Falcon CPA, we have a team of professionals specializing in asset protection strategies. Assets protection is a set of legal techniques and a body of statutory and common law dealing with protecting your assets and business entities from unwanted money judgments. The goal of all asset protection planning is to insulate your assets from potential claims of creditors without concealment or tax evasion.

Assets protection consists of methods available to protect your assets from potential liabilities arising elsewhere. It should not be confused with limited liability, which concerns the ability to stop or constrain liability to the asset or activity from which it arises. Assets that are shielded from creditors by law are few (common examples include some home equity, certain retirement plans, and interests in limited liability companies (LLCs) and limited liability partnerships (LLPs). Assets that are almost always unreachable are those to which one does not hold legal title. In many cases, it is possible to vest legal title to personal assets in a trust, an agent, or a nominee while retaining all the control of the assets. The goal of asset protection is similar to bankruptcy, and the two practice areas go hand-in-hand. When a debtor has none to a few assets, the bankruptcy route is preferable. When the debtor has significant assets, asset protection may be the appropriate solution.  

Below are some of the methods available to protect your assets:

• Truly Independent Trustees
• Irrevocable Trusts
• Foreign Trusts
• Limited Liability Companies
•  Foreign Limited Liability Companies
•  International Business Companies
• Limited Partnerships
• Corporations under Chapter C
• Corporation under Subchapter S

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