Whether you are a real estate investor or business owner, if you have assets, they are worth protecting. You owe it to yourself and your beneficiaries to implement an asset protection plan that will safeguard your assets in the event that something goes wrong. When considering how to best protect your assets, you should be aware of some of the most popular asset protection planning tools available to you.
Cardon Law is a Pleasant Grove real estate and business law firm with more than a decade of experience helping clients better protect their assets. When choosing asset protection planning tools, it can be overwhelming to identify what option will work best for your unique needs. Attorney Jeffrey Cardon provides dedicated legal counsel to help you understand your choices and make the best decision for your unique situation.
What Are Popular Asset Protection Planning Tools?
There are numerous reasons to have an asset protection plan in place. If you do not have an asset protection plan, your wealth is more at risk than you may realize. In order to better protect your assets and give you more peace of mind, consider an asset protection planning tool. Some of the most popular asset protection planning tools include the following:
- Limited liability companies: An LLC is a legal entity that exists apart and separate from the business owner. An LLC shields the business entity’s assets from the owner’s personal debts and, in turn, the owner’s personal assets are shielded from the LLC’s liabilities. An LLC is a legal entity that exists apart and separate from the business owner. An LLC shields the business entity’s assets from the owner’s personal debts and, in turn, the owner’s personal assets are shielded from the LLC’s liabilities.
- Asset protection trusts: Trusts are often critical components of a comprehensive asset protection strategy.
- Prenuptial agreements: This tool is a popular way for couples to protect their separate assets before marriage, in the event of a divorce.
- Postnuptial agreements: Similar to a prenuptial agreement, this tool will protect an already married couple’s personal assets in the event of a divorce.
- Insurance: Auto liability, errors and omissions, malpractice, business, and other insurance policies are all options that may help protect your assets against claims or litigation in the future.
If you are unsure what asset protection planning tool may best suit your specific needs, consult an experienced Pleasant Grove attorney so you may decide what your next steps should be.
How Can a Lawyer Help You?
When making any decision concerning the protection of your assets, having a trusted legal professional on your side to ensure your interests are protected is vital to your overall success and financial well being. When you work with a trusted lawyer in Utah, you may experience the following benefits:
- Answers to any legal questions or concerns you may have
- Legal assistance whether you are launching, growing, or exiting a business
- Trusted representation
To get help with any concerns you may have in regard to the protection of your assets, contact a knowledgeable attorney as soon as possible.
Get Help From a Pleasant Grove Real Estate and Business Lawyer Today
At Cardon Law, our clients have access to the resources and legal advice from a knowledgeable and dependable Utah legal representative. Jeffrey Cardon has first-hand entrepreneur know-how and more than 15 years of experience representing business owners, investors, and executives. You can count on our legal team to represent you and your company in business matters.
Whether you are in need of guidance in choosing the right asset protection tool or have other legal needs, do not hesitate to contact us. Talk with our team and find out how we can help you grow your business by calling (801) 225-6700 or filling out our contact form.