Knowledgeable Asset Protection Lawyers in Bowling Green
Helping You Protect Your Legacy
A major part of the estate planning process is ensuring your assets are protected. However, many business owners, professionals, and other individuals must not only have a sufficient plan in place that safeguards their assets when they pass — but also during their lifetime. The asset protection lawyers at Middleton Law Offices are committed to helping clients protect their financial legacies from potential liabilities and preserve their assets for the next generation.
A Wide Range of Asset Protection Strategies
You’ve worked hard during your lifetime to build your accumulated wealth, and it’s vital to develop a plan to ensure it is shielded from liabilities. Significantly, asset protection isn’t only for high net-worth individuals. Anyone’s assets can be at risk at any time due to litigation, creditor claims, and even identity theft. A comprehensive asset protection strategy should be put into place well in advance of the commencement of a lawsuit or creditor claim — and long before any other danger is posed to your assets.
At Middleton Law Offices, our knowledgeable attorneys assist individuals and their families with implementing various asset protection strategies, including the following:
- Offshore trusts — An offshore trust can help safeguard your assets from a civil judgment in the United States since it is beyond the reach of a U.S. court.
- Domestic asset protection trusts — A domestic asset protection trust can help to protect your assets from creditors whose claims have yet to materialize.
- Creditor negotiations — Since an asset protection plan can make it impossible for a creditor to claim your assets, it can be a powerful tool when it comes to negotiations in the event of litigation.
- Business entity structuring — If you own a business, there are a number of different structures you might use to protect your personal assets, including limited partnerships, limited liability companies, and corporations.
- Financial planning through living trusts — A living trust can be used to protect your assets from creditors’ claims and allow you to retain control of the assets during your lifetime.
- Creating family limited liability companies — With a family limited liability company, you can protect your assets by transferring real estate, securities, a bank account, or an interest in a closely held business into a family limited liability company.
An asset protection strategy isn’t one-size-fits-all. It must be specifically tailored to meet your needs. At Middleton Law Offices, we take the time to carefully evaluate your circumstances and address your concerns. Skillfully identifying every area of potential liability, our attorneys will work to develop an effective asset protection plan so that you can rest assured your hard-earned assets will be secure.
Experienced Estate Planning and Asset Protection Lawyers
Asset protection and estate planning are tied closely together, and one should not be considered without the other. While asset protection specifically involves shielding your wealth by implementing specific legal strategies, estate planning concerns protecting your assets during your lifetime in order to preserve them and pass them to your loved ones when you pass away. In this regard, wills, trusts, and powers of attorney can be used to help you meet your objectives.
However, in addition to considering what will happen to your assets after your passing, you should also ensure they are safeguarded in the event you become incapacitated. This means having a structured plan that provides instructions for the management of your assets if you become ill or disabled and cannot handle your affairs. Failing to take proper estate planning measures can put your assets at risk now and in the future — it’s crucial to consider both your short-term and long-term objectives when creating an asset protection strategy.
At Middleton Law Offices, our asset protection lawyers understand how important it is for you to have peace of mind that your loved ones will be provided for in the future. We will meticulously review your situation and discuss your options. Our attorneys will advise you of all legal avenues and strategies you can pursue to shield your assets from creditors, lawsuits, and judgments in the present day and years to come.
Contact a Qualified Ohio Asset Protection Attorney
Asset protection can be complex. At Middleton Law Offices, our asset protection lawyers have extensive experience in helping individuals and families in Ohio safeguard their assets and protect their generational wealth. Our legal team is committed to providing clients with the time and attention they deserve as we skillfully advise them regarding their asset protection and estate planning matters. Contact Middleton Law Offices today at 419.548.0196 for a consultation to learn how we can help.