Hackensack, New Jersey Asset Protection Planning Lawyer
Timing and compliance with legal requirements are everything when you seek to protect your assets against circumstances involving lawsuits, creditors, divorce, and judgments. There is a wide range of techniques one can employ with asset protection planning, but the list of tactics that may apply to your specific situation is probably quite short. Plus, you need to make absolutely sure to steer clear of any issues that could amount to fraud or criminal contempt.
The asset protection planning legal team at Giro & Associates, LLP has extensive experience assisting Bergen County, Hackensack, New Jersey clients with safeguarding their financial futures. We know that a custom-tailored approach is critical, so our strategy starts with assessing assets, risk, comfort level, and individual needs. Our lawyers have the knowledge to provide you with asset protection planning options, while ensuring that you avoid negative legal implications.
Safeguard Your Interests in Property with Wise Planning
Our attorneys represent clients with asset protection planning in a variety of situations, but we understand that the need often arises in the context of professional liability. Lawsuits based upon dissatisfaction are common against medical providers, real estate investors, and similar occupations. However, it is smart to work with a lawyer under any circumstances that carry the potential for litigation.
You are in a better position to fully protect your property if you take action well before the threat of a lawsuit, as fraudulent transfer laws can thwart asset protection planning. Transferring items once another party already makes or perfects a claim can lead to serious consequences, such as a court setting aside a transaction. Note that asset protection planning is not a substitute for proper insurance, but should be considered as a supplement to coverage you do carry.
Asset Protection Structures
After reviewing your situation and applying relevant legal principles, we can advise you on your options for asset protection planning. Some of the more common, most effective tools include:
- Land Trusts: If real estate is among your most valuable assets, you could benefit from employing a land trust to protect it. A land trust eliminates the risk by acting as a privacy shield that holds confidential title to your real estate. Through the arrangement, you are not an owner discoverable through asset searches.
- Limited Liability Business Entities: Creditors that have claims against an individual stakeholder in a limited liability entity cannot take property owned by the company, so an LLC or corporation properly organized under Hackensack, New Jerseylaw may be an effective asset protection tool. However, it is necessary to watch out for corporate veil scenarios.
- Offshore Trusts: This type of asset protection planning tool uses a foreign trustee to manage assets. This individual, as a non-citizen of the US, is not bound by the jurisdiction of US courts.
Schedule a Consultation with a Hackensack, New Jersey Asset Protection Planning Attorney Today
If you would like to explore asset protection planning options, please contact Giro & Associates, LLP in Hackensack, NJ. We can set up a consultation to review your circumstances and explain your legal alternatives.