asset protection
Preserving owned valuables
Asset protection refers to legal strategies for shielding wealth from creditors, lawsuits, or judgments.
Techniques include transferring assets to trusts, LLCs, or family members, or moving them to jurisdictions with favorable laws.
The practice ranges from legitimate estate planning to borderline fraudulent transfers designed to frustrate those with valid claims: He restructured his holdings for asset protection before the lawsuit was filed.
- liability insuranceCoverage for harm caused
- insurance policiesContracts transferring financial risk
- trustsBelieves in reliability
- living trustsModifiable estate planning instruments
- prenuptial agreementsPre-wedding asset arrangements
retirement accounts · fraud prevention · umbrella insurance · safe harbor · risk assessment · wills · offshore accounts · fiduciary duty · power of attorney · estate planning · annuities · rainy day fund · corporate veil · shell company · beneficiary · creditor · contingency planning · liability
- financial planningfinancial planning, budget, financial plan, retirement plan, financial goals
- estate planningexecutor, trust, beneficiary, will, probate
- financial safeguardsinsurance, savings, collateral, escrow, hedging
- Loss Preventionshrinkage, shoplifting, shoplifter, store detective, security camera
- corporate securitysecurity guard, security camera, CCTV, access control, badge system
- bankruptcybankruptcy, bankruptcy court, Chapter 11, Chapter 7, bankruptcy petition
asset protectionasset forfeiture
Legal property seizure
asset seizure · asset stripping · liquidation · divestiture · debt collection
asset protectiondebt collection
Pursuing owed payments
asset recovery · garnishment · levy · attachment · clawback
asset protectionfinancial ruin
Complete loss of wealth
bankruptcy · insolvency · squandering · profligacy · impoverishment