Asset Protection Orange County, CA

Asset Protection Definition: Asset protection is a type of planning that legally protects wealth and assets from creditor claims.

Why does Katz Financial emphasize timing when it comes to asset protection?

Safeguard Your Own

Individuals and business entities use asset protection techniques to limit creditors’ access to certain valuable assets while operating within the bounds of debtor-creditor law.

However, asset protection planning should not be a substitute for liability and professional insurance. Rather, it should supplement insurance since it can help a debtor survive a claim a fraudulent transfer claim.

Be Prepared

Katz Financial is in the business of protecting you and your business.

In asset protection, timing is everything. There are many things you can do to effectively before a claim or liability arises but very few things will afterwards. That’s because what you do after a claim arises could be undone by “fraudulent transfer” law.

 

 

Asset Protection Help Orange County

Items to be addressed for business asset protection are:

The Corporate Shield or business entity. Make sure your company has one such as an LLC, C or S Corporation. You can do it on line, but I always recommend paying and attorney to set up your entity and make recommendations after explaining the pluses and minuses of each entity.

Should there be distinct businesses operating by one company, the business owner should ask if it is smart to create more than one business entity to get the protection needed. ( Example, Company Manufacturers product – one business – same company also lease the equipment it manufactures – another business. That business owner needs to ask the client if it would be wise to have two separate entities so that the problems of one business do not destroy the other business.

Attorneys should also review all business agreements and employee manuals.