People seem to sue each other for just about anything these days. No matter how frivolous the suit may appear, you just don’t know what a judge or jury will decide. This helps explain why asset protection planning is such a rapidly growing area of the law, and why most families need an asset protection plan of their own.
Your plan must accomplish two primary goals. First, it must protect you and your spouse from creditors, predators, and others who want to seize a portion of your assets while you are alive. Second, your plan must protect your loved ones’ inheritances against a variety of threats after you pass away. The latter can involve ensuring your children’s inheritances are protected if they get divorced. Your grandchildren may need protection to ensure they receive their inheritances if your child passes away and your daughter-in-law or son-in-law remarries. Your children may even need protection from themselves and their own poor decisions if they are not mature enough to handle an inheritance on their own.
We can help you design a plan to protect your assets for your enjoyment today and that of your loved ones after you are gone. Remember: asset protection planning is only effective if it is carried out before a lawsuit or other threat materializes.
Contact us at your earliest convenience to schedule a consultation with one of our Honolulu asset protection attorneys.