Planning for asset protection and wealth preservation is important and necessary for business owners, corporate officers, professionals and anyone with substantial property or income. Few situations are more difficult than being sued, even if the claim is frivolous. One can also be responsible for acts of an employee, partner, subcontractor or agent. Liability may arise from:
- Officer/director liability
- Employment relationships
- Professional malpractice
- Use of automobile or ownership of real estate
- Trusts and estates
The only time to evaluate risk and plan for asset protection is long before any such claims arise. Bingham Greenebaum Doll LLP is prepared to advise you regarding protection of your assets through careful planning of your business and financial affairs, including insurance and risk management. Arrangements involving insurance, trusts, limited liability companies, and the use of statutory exemptions may also be appropriate. Whatever the situation, our attorneys offer a depth and breadth of legal services to help you meet your needs.
Planning of this sort does not mean hiding assets from creditors, the IRS or acts that constitute illegal behavior. Rather, the use of insurance and other legitimate methods customized to particular needs may reduce the likelihood of being sued and increase your ability to protect your assets if suit does occur.