Frequently Asked Questions – Asset Protection

What is Asset-Protection Planning?
Asset-protection planning is about organizing your affairs so that the risks of possible future claims by third parties are properly managed and minimized. By organizing one’s affairs thoughtfully, a client can significantly reduce exposure to catastrophic claims.
Who is a typical asset protection client?
The typical asset protection client is a relatively high net-worth individual—oftentimes a business owner or physician—the nature of whose business or profession exposes them to significant, if rare, claims.
Will Asset Protection Planning protect me from claims of existing creditors?
Generally speaking, no.   You cannot shelter assets from the claims of existing creditors and, indeed, transfers to thwart creditor claims can be undone by the courts. (In the context of a bankruptcy filing, however, the Ohio exemptions …

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