I can help ensure that your assets remain yours with asset protection.
When you have been successful enough to accumulate assets, it can be a scary thought that someone else might feel they have a claim on your assets, and then try to take them from you via legal channels! When you have worked hard for your assets, this is a very disturbing thing to think about. Whether your assets are significant or significant to you, I want to help you at James M. Snow Law with your asset protection needs.
There are many ways that you can get asset protection, and many people believe that a last will and testament should do the trick. However, this is not always the case, especially if you are in a profession that is sued often, like obstetrics, accounting or even the legal profession, ironically enough. With my experienced advice and skill in asset protection, together we can take a proactive role in protecting your assets before you should be served with a lawsuit.
James M. Snow Law: The Best Lawyer You Can Find in High Point, NC
If you need asset protection because you are concerned about what will happen after you have already been hit with a lawsuit, I can help you there, too. After being in the legal business for 42 years, I know the ins and outs of asset protection and would be happy to help you navigate this tricky maze of legal nuances.
If you are in the High Point, North Carolina area and are looking for asset protection to keep your assets safe from predatory lawsuits, I want to help you. Please contact my law office today and let’s get started on your asset protection process together.
Contact James M. Snow Law Today!
FAQs About Asset Protection
To protect your assets effectively, it’s essential that you hire a lawyer who can help you navigate the process and be as thorough as possible. I am the attorney you can trust with this task, and I have taken the liberty of answering a few frequently asked questions below so that you can better understand asset protection and what it entails. When you are ready to begin, contact my law office.
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What do assets need protection from?
Your assets need protection from many things, including lawsuits, creditors, accidents, divorce settlements, financial mistakes, business risks, and more. Asset protection involves shielding what you own by creating legal barriers.
What are some common asset protection strategies?
There are many asset protection strategies that people can use. One of the most common is establishing a limited liability company (LLC) or limited partnership for certain assets, such as real estate. This approach separates business and personal assets. Another common strategy is to set up an irrevocable trust for children who will inherit certain assets. In doing so, you give up control of the assets, but they can no longer be claimed by creditors. Other asset protection strategies include layering insurance policies, taking advantage of state and federal exemptions that protect certain items automatically, using retirement accounts, and creating prenuptial agreements.
Isn’t asset protection only necessary for wealthy people?
No, asset protection isn’t reserved for wealthy people. If you have a home, car, or savings, these are assets that are at risk if someone were to file a lawsuit against you or if an accident were to happen.
What cannot be done to protect assets after a lawsuit is filed?
After a lawsuit is filed, your asset protection options are very limited, but an attorney can help you determine whether certain steps can be taken to protect your assets legally. What you cannot do is hide, move, or sell assets, and you cannot create new trusts for them either or your actions will be treated as fraudulent conveyance.
Contact James M. Snow Law Today!
At James M. Snow Law, we provide asset protection services in High Point, Greensboro, Winston-Salem, Thomasville, Lexington, Clemmons, Asheboro, Burlington, Welcome, Hewitt, Jamestown, Wallburg, Union Cross, Trinity, Archdale, Kernersville, Randleman, Denton, and Salisbury, North Carolina.