If you’re a small business owner, you probably know that operating and owning a business can be filled with pitfalls and risks.
When tough times arise, one thing is unfortunately clear: litigation’s popularity increases.
Due to the financial stresses caused by the coronavirus, we anticipate that people and businesses will be much quicker to resort to litigation to recoup monies owed or avoid taking financial losses.
The last thing you want is to be an easy target during this time.
Asset protection is the answer to our increasingly litigious society. While asset protection can sometimes be a complex practice, it is a very simple concept . . . get all of your significant assets out of potential creditor reach.
The goal is to prevent or significantly reduce risk by insulating your business and personal assets from the claims of creditors.
Unfortunately, most small-business owners are unaware of all the potential risks that can harm their business and the options available to protect themselves.
An asset-protection plan designed BEFORE a lawsuit or claim arises can deter a potential claimant or help prevent the seizure of your assets after a judgment.
We urge you to be proactive about protecting both your personal and business assets before creditors arise.
The Bottom Line
Protecting your business is both allowed and encouraged, using honest, legal strategies where appropriate. If you haven’t already put your asset-protection plan in place, please contact us today and let’s develop a plan that works best for you.
- Special Needs Trusts for Children with Down Syndrome - March 2, 2021
- Medicaid Changes Make Pre-Planning Essential - February 27, 2021
- We Welcome You to “Get Your Legal Affairs in Order. Now!” - February 25, 2021
