Learn how to protect your assets from lawsuits.
Is it possible to protect your assets from lawsuits? With the right planning and asset protection plan overseen by our law firm — Piervincenti & Tarantino Law, PLLC – this is more than possible. Most often, asset protection plans involve taking assets subject to creditor claims (referred to as nonexempt assets) and repositioning them so they are no longer within the reach of creditor claims (referred to as exempt assets).
The asset protection process typically starts by reviewing your short- and long-term financial goals. After analyzing your current and future sources of income, as well as how much capital you need to retire, you can then create a detailed financial plan. Once this financial plan is in place, we can help you review your assets to determine whether they are exempt from creditors. Using your financial plan, we can help you position assets you intend to obtain in the future, so they are not within the reach of potential creditors.
It is always better to be proactive about asset protection and begin the process now instead of waiting until a lawsuit is filed against you. Even if a case has not been officially filed, you must complete this process well in advance, or it may be viewed as a countermeasure by a judge or jury.
When you need reliable, compassionate help with asset protection planning in Mooresville, North Carolina, we are here for you. To find out more details about this process, please give our office a call today.