Protecting Your Assets in California: A Fine Line

9:02 am Uncategorized

Protecting your assets is one of the best things you can do to ensure a good future for what you own, especially liquid assets, real property, and intellectual property. You may want to protect your assets for a number of reasons, but probably the top two most common reasons are to protect them from creditors or a spouse in the event of a divorce.

Asset protection in California is a great tool – but it’s a serious tool, and should not be used in a cavalier or careless manner. Those who try to use asset protection after a judgment or divorce papers have already been served are walking a fine line… a line that could be deemed fraud. Once this line has been crossed, the consequences are severe and things will not pan out in your favor.

The proper and responsible thing to do is sit down with a California asset protection attorney BEFORE you experience a life change that could affect your assets. Speak to your attorney about protecting what is rightfully yours before a divorce, before going into a new business , or before entering into any agreement that will mean you owe money to a creditor, including purchasing a new home or car.

So what’s the final word? Use asset protection a) before any major life changes, and b) with the help and guidance of a California asset protection lawyer.

If you have any questions or any uncertainties regarding when you should use asset protection, contact your Newport Beach asset protection lawyer today.

Your California legal and financial planning experts are at your service; Contact us today.

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