Most of Wealth (or Asset) Protection
Planning is aimed at shielding a client’s assets from the reach
of creditors. There are a variety of ways to
accomplish doing this protection, but often the best planning
utilizes a number of methods in the same plan.
These ways include the following:
Trusts (Generally Irrevocable Trusts)
Certain Types of Investments
College Savings Plans
The whole concept of Wealth
Protection Planning is to create legal barriers that will not
allow creditors to collect on a judgment or at least make it
unattractive – time consuming and expensive for a creditor to
pursue an asset.
Those persons who are ideal
candidates are members of professions, such as doctors, and
those who have a wide variety of types of assets, including
businesses, multiple real properties, and metals.