WHAT IS ASSET PROTECTION?
Family heritage and goods that may enter family disputes may be in danger in different scenarios of our lives, but there are ways to protect it. Nowadays it is more popular to go on courts in search of solutions to interpersonal problems. We live in a society where every day the differences between neighbours or relatives seem less likely to be solved. If you are looking for proper asset protection to ensure your family will be stable in the future, contact us.
There is not only one single way to ensure asset protection and preservation of your goods, there are several different strategies that can be used to successfully cover this issue. A talented team of professionals will look for the most suitable one that cuts out extra expenses and allows you to find a definite solution to your problems.
Divorces and separations may compromise your assets and liabilities, so it is important to study the options you have to protect your belongings before and during your marriage.
Many people in view of the protection of the home, protect their money by investing in improvements and repairs in their homes. A common case is married couples investing all they have before being sued, they invest money in some improvements in their home and when they sued them, and the court issued the judgment, the plaintiff was not able to collect against the defendants. Care must be taken when doing this, since a judge may grant permission to a plaintiff to collect the money invested in the home under the doctrine of fraudulent transfer.
There are several exceptions regarding home and assets protection. Exceptions include federal tax debts, mortgage debts on the home, liens filed for noncompliance for any construction work at home and municipal taxes on the property. In other words, if you owe money to the federal or municipal government for not paying taxes, said government agencies could seize your real property, even if it is your home.