Asset Protection Attorney Orange County
ASSET PROTECTION ATTORNEY Orange County
Most businesses face some form of legal issues as they grow. The bigger your company is, the more likely it is for people and other organizations to sue. This is especially true in professional fields like medicine, as well as in real estate-related endeavors. If you own a business, it is prudent to implement various legal strategies to help protect your assets from the inevitable frivolous litigation that eventually crosses every entrepreneur’s path. That’s where an asset protection attorney Orange County can help.
What is Asset Protection?
Asset protection is a strategically formed game plan to protect your wealth from potential seizing by creditors or claimants. This is a fancy way of saying that, “asset protection allows you to keep your house, car, stocks, cash, bonds, real estate, and business property safe from people or organizations looking to take what you’ve built.”
For example, if you own a real estate property where someone gets injured, you could be held liable for their medical bills, emotional damage, and even out-of-work compensation. This is why it’s vital you hire an asset protection attorney Orange County to help you figure out the best path forward for keeping your assets safe, and beyond the reach of financial predators.
There is no asset protection plan that can 100% guarantee that your assets cannot be reached by claimants; however, there are various steps you can take to deter future lawsuits and help prevent your property from being seized. At Bagla Law Firm, our asset protection attorney Orange County specializes in providing individuals and businesses with top-tier legal counsel on protecting their assets. With our thorough understanding of California and federal laws, we can help you put in place a well-rounded asset protection plan that prioritizes your unique objectives.
Asset Protection Strategies
There are actually a large variety of ways to protect your assets and what works for one client may not work for another. That’s why working with an experienced asset protection attorney Orange County can help you nail down the options that are right for you. Generally, a good asset protection strategy involves a combination of financial and investment instruments that are uniquely combined for the benefit of an individual (or business). Depending on the types of assets you’re looking to protect, the strategy could change. An asset protection attorney Orange County can guide you through the process.
One way to protect your business upfront is to choose the right business entity. For example, choosing to start a business as a sole proprietorship or general partnership can put your personal assets at risk should you ever face legal trouble. This is because these two options do not separate your personal assets from your business assets. Instead, you’ll want to set up your business as a corporation, LLC, or limited partnership, depending on your business goals. An asset protection attorney Orange County can help you figure out the best business entity for your business and walk you through the business formation process from the very beginning.>/span>
This is just the very first step towards protecting your assets. In order to keep your property and investments safe from creditors, you’ll also need to use proper contracts and agreements, get liability insurance, consider your investment plans, and possibly set up another LLC or a Trust to separate your assets from your personal control. An asset protection attorney Orange County can walk you through the process of setting up these different strategies to ensure they comply with the law and provide you with the most thorough protection.
Your asset protection attorney Orange County may even advise you to set up an offshore asset protection strategy whereby your assets are placed in a jurisdiction outside of the U.S. This limits the ability of a United States judge to request access to those assets because they do not hold the same power in a foreign nation.
Remember that not all of these strategies are necessary for every case as each person and business has their own unique needs that ought to be considered. The best way to find out what strategy will best accomplish your goals is to contact an asset protection attorney Orange County to discuss your options.
Kelly Bagla, Esq.
High Net Worth Business Attorney, Kelly Bagla is an international award-winning corporate lawyer and entrepreneur. Affectionately known by her clients as, “Queen of Business Law®,” Kelly protects high net-worth individuals and business owners through custom legal strategies.
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