California Asset Protection: Don’t Suffer When You Don’t Have To

8:13 pm Uncategorized

Small business owners are so busy getting their businesses off the ground that they easily overlook ways they could protect themselves and their businesses from falling prey to circumstances that are often unavoidable.

California asset protection can safeguard your personal and business assets – but if you don’t have an asset protection plan in place, creating one after the fact will do you no good.

What to have in place:

First, don’t try this at home. You’ll need to enlist the help of a California asset protection attorney.

Create a COMPLETE list of your business’s assets. This inventory list should include every single item that is owned by your business. If you’re serious about staying protected, you’ll update this list of assets any chance you get. In most instances, a small business owner should do this quarterly – every other quarter at the least.

Hire a California Asset Protection Lawyer who stays on top of changes in federal law. Trying to stay up-to-date with laws that concern asset protection, exemptions, and protective trusts is not something you’ll have time to do if you’re a business owner. Your lawyer should be experienced enough to stay on top of changes in federal law that could affect your assets, both personal and business. He should alert you of changes and let  you know how the game plan will change to keep you protected.

Talk to your Newport Beach Asset Protection Lawyer about protection through insurance. If you run a small to medium-sized enterprise, chances are, there’s a way for creditors or dissatisfied clients to come after your personal and business assets. Damages insurance, property insurance, and personal injury insurance should all be part-and-parcel of your asset protection plan. Bring this up with your attorney and let him know you want it!

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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