Asset Protection Attorney
Christians seeking an asset protection attorney should first seek God's counsel. That is the safest way for Christians who wish to shield their property from creditors and civil judgments to proceed. Individuals have many options available to them, including consultants, when setting up an asset protection plan. But a lawyer may be the best person for the job. A legitimate protection plan uses legal techniques to safeguard property. However, a legal expert can only provide so much safety. Christians should always look toward the Lord for complete safety, protection, and guidance. The Almighty Lord is the armor and strength, and ultimate counselor. And the Bible is quite clear on where trust should be placed. "For his God doth instruct him to discretion, and doth teach. For the fitches are not threshed with a threshing instrument, neither is a cart wheel turned about upon the cummin; but the fitches are beaten out with a staff, and the cummin with a rod. Bread corn is bruised; because he will not ever be threshing it, nor break it with the wheel of his cart, nor bruise it with his horsemen. This also cometh forth from the Lord of hosts, which is wonderful in counsel, and excellent in working." (Isaiah 28:26-29) Seek out God's counsel and place trust in Him. He alone can guide people through difficult times and offer adequate protection. Take refuge in God not in another person.
A person in need of an asset protection attorney believes he or she needs the services of one. Issues and concerns have already arisen that warrant hiring a lawyer. But, before beginning the search, remember what Ephesians says. Get rid of all bitterness, rage, anger, and any other type of malice. If nothing else, doing all that will clear a person's head and allow them to conduct a search based on reason. A competent asset protection attorney will skillfully guide their client through the intimidating and sometimes confusing legal system. This is important because asset protection is a serious legal issue, with heavy repercussions if the process is botched. There is a fine line between legitimate shielding and fraudulent actions. Some laws permit protection of assets to protect individuals and businesses from devastating loss. So, hiring the right lawyer goes a long way in reducing anxiety associated with the experience.
Develop a plan before beginning a search of attorneys to hire by learning about shield laws. Finding an asset protection attorney with years of experience is the best option in most cases. However, experience doesn't necessarily make good legal counsel. Begin by talking with people who have been involved in the legal system before. Legal experts agree that there are some definite do's and don'ts when hiring a lawyer. Knowing bout shielding laws will help make choosing the right lawyer easier. Don't forget that the Lord never leaves a person on his or her own. Seek the Lord's help. And, as the Bible says, the Lord will see that a person can rest in peace and safety. There is some debate about where to begin looking for an asset protection attorney. Word of mouth is best. Online legal sites are good as well. Once one or more attorneys have been targeted, begin by looking at the attorney's biographical information. Find out as much as possible about the lawyers and their firms.
Review the lawyer's experience with asset protection planning. Surf the web for pertinent information. Find other people who can comment on the attorney's competence and trustworthiness. Also, make an inquiry at the state bar association. It's possible that this may be done online. Be sure the lawyer is in good standing. Check to see if the attorney is listed as a member of any associations. Although the telephone directory and television ads may not be the best place to start a search, they can provide a lot of information about the lawyer. If the attorney does advertise, the ad should be tasteful and informative. A good asset protection attorney will be busy and will depend on his or her staff to do some of the work. So, assess the way the staff works too. Look for professional and courteous behavior. Get references before hiring an attorney. Carefully read a lawyer's retainer agreement and have it explained before hiring. An asset protection attorney will probably not work on a contingency fee.
Beware when working with an asset protection attorney. There is a fine line between asset protection and fraudulent transfers of property. Federal and state law prohibits fraudulent transfers. Although most lawyers are trustworthy, there may be some who fall on the wrong side of the line. Even if the transfer of assets is properly done, there might still be legal implications. Legitimate creditors may have a legal right to the shielded property. According to several online legal sites, there are no clear lines between what is permissible and what is not. But a fraudulent transfer occurs when property is shielded in an effort to stop a legitimate creditor from taking the assets. If a person knows of the existence, or potential existence, of a legitimate creditor a transfer may be illegal. Such a transfer could be undone. Individuals found guilty of fraudulent transfers could be charged with a crime and fined, ordered to pay restitution, receive probation, or imprisoned. The Bible says not to take pride in stolen goods, even if a person's riches increase. Fraudulent transfers are stolen goods.
Asset Protection CorporationAn asset protection corporation does exactly what the name implies. This is a business that protects the assets of clients or customers. Assets include both tangible and intangible items of value. For example, tangible assets include a person's possessions or a company's furniture and equipment. Intangible assets are items that have value, but that aren't physical objects. An author, for instance, owns the copyright to the novels she has written. Depending on the author's popularity, the copyright could be very valuable. A business may own patents and/or trademarks. Termed intellectual property, these are types of intangible assets. Additionally, when a business is sold, the purchase price often includes an amount known as goodwill. This is another type of intangible asset that can be assigned a value and basically refers to the business's customer base. Of course, a business itself is a thing of value to its owners. In protecting both tangible and intangible value, an asset protection corporation may offer security systems to the client's property, estate and tax planning assistance for the client's wealth, or legal strategies regarding the client's business structure, tax procedures, and/or possible professional liability.
Security companies often offer their services to both residential and business customers. For a person's home, a company might provide motion detectors, alarms that are activated by the opening of a door or window, or a combination of these types of strategies. The homeowner can turn the system on and off by entering a code into a keypad. The keypad often comes with a one-touch feature that summons either law enforcement or emergency medical assistance by pushing the appropriate button. As part of the security system provided by an asset protection corporation, other buttons may be placed strategically throughout the home to summon law enforcement when the alarm system itself is turned off. For example, an emergency button may be placed in the kitchen. If someone breaks in while the family is home, hopefully a family member could access this button and trigger the alarm. Many small businesses often use similar types of security systems to protect their employees. Large corporations and government agencies often hire an asset protection firm to evaluate, design, and implement a customized security system. This may include hiring guards, utilizing metal detectors, or the use of employee badges. The firm may also provide video monitoring and a sprinkler system in case of fire.
Another type of asset protection corporation specializes in estate and tax planning. Even individuals with a small net worth may want to seek legal advice when preparing a will to be sure that the instrument is properly written, witnessed, and executed. Those with a large net worth most certainly need legal assistance to ensure that the heirs, not the state, are the beneficiaries of the estate upon the person's death. A reputable and knowledgeable firm can help individuals plan the best way to protect the assets they have worked so hard to accumulate. A plan can be created that benefits the individual throughout the rest of his life, provides financial security for a surviving spouse, and reduces tax liabilities. Of course, paying taxes is a certainty of life. The Pharisees once sent their disciples to Jesus and asked about the lawfulness of paying taxes to Caesar. Jesus knew the wicked motive behind the seemingly innocent question and asked them whose image was on the tribute money. As recorded by tax collector turned apostle, "They say unto him, Caesar's. Then saith he unto them, Render therefore unto Caesar the things which are Caesar's; and unto God the things that are God's" (Matthew 22:21). Taxes need to be paid but no more than necessary. An asset protection corporation can advise legitimate legal strategies for protecting as much of one's net worth as possible.
Finally, an entrepreneur may need legal assistance in protecting her business. Structuring a company in a certain way may reduce taxes on one's profits and protect the owner's personal assets in case of litigation. Entrepreneurs often start out as sole proprietorships. There is little cost to starting a company with this type of structure which makes it a popular choice. However, the individual's personal assets are at risk if the sole proprietorship is sued. By forming the business as an LLC (limited liability company) or corporation, the owner(s) are not personally responsible for the business's debts. The LLC or corporation is, according to the law, a separate entity. An asset protection corporation can help an entrepreneur or management team to structure the company in such a way to reduce taxes and lessen liability. However, owners and managers need to be careful that the asset protection firm is providing legitimate and reputable options. Some of these firms advise strategies that may lead to audits by the Internal Revenue Service. Others are outrageous scams. An entrepreneur or management team should only hire an asset protection corporation that has sterling credentials and a strong reputation in the industry.
Additionally, professionals such as those in the medical profession may seek specialized advice for protecting assets in the case of medical malpractice suits. Other professionals, such as attorneys and accountants, may also benefit from specialized strategies in the event an unhappy client files a lawsuit. Such individuals often have practices to protect in addition to personal assets. A reputable firm should provide assistance in how to structure both the business and personal aspects of the professional's assets to provide as much financial protection as possible. Again, the professional will want to investigate an asset protection corporation before accepting its services to ensure that the firm specializes in solutions and not in scams.