Asset Protection Strategies

Asset Protection Strategies

Generally, we believe there are six ways you can protect your assets and privacy. Depending on the value of your personal and business assets, it may be appropriate to employ more of these strategies than just an LLC and liability insurance.

Liability Insurance

Getting the right amount of coverage which covers the appropriate risks. We have a company we can recommend, but generally it's most convenient to work with your current insurance company to keep all your payments under one roof.

Separating Companies from Owners

Forming an LLC and observing all formalities to ensure a court does not "pierce the veil" of the entity. This helps protect your personal assets from business creditors, and your business assets from personal creditors.

Anonymity

From anonymous LLCs to anonymous asset protection trusts, we can assist you with maintaining your privacy. Making your assets difficult to find makes you less of a target. You may think of it this way,

Equity Stripping

Removing excess equity from property: one example is a "cash out refinance" of a property with significant equity, another is reducing the contributions of members to an LLC and funding the LLC with loans secured by company assets.

Separating Assets from One Another

Not holding or purchasing multiple assets in a single entity. Instead place each asset in a separate LLC and use holding companies to consolidate those interests.

Separating Ownership from Management

Assets by themselves typically create little liability, but the management of the assets does. Creating a management company LLC that is hired by the LLC's holding the assets can isolate liability in an entity with few assets.

img

Conclusion


The purpose of this page is to inform you of common asset protection strategies. The ultimate goal being to place as many barriers between your creditors and your assets as possible. Just remember, the more effort you put in the more they will need to and most creditors will prefer to go after low hanging fruit, i.e. others who have not protected themselves as well and represent an easier pay day.

Any Questions?

Give us a Call:

307-683-0983

Send us a Message:

info@cloudpeaklaw.com

Visit us:

Cloud Peak Law Group
1309 Coffeen Ave Sheridan, WY 82801