Future lawsuits, divorce, and many other things can cause a person to think seriously about creating a Philadelphia asset protection trust. This will protect your assets from creditors and other individuals so you can make sure they are still around when you retire or so you can pass them onto your loved ones.
Our law offices can help you establish a Philadelphia asset protection trust. Instead of trying to figure out asset laws on your own, allow us to assist you and provide you with information about common mistakes pertaining to protecting your assets. One of which is transferring a lot of your assets to your spouse or children. Many people feel that by transferring their assets from their name, it causes them to be safe. Unfortunately there are loopholes and the courts can take these assets away as they originally belonged to you. Creditors that are trying to collect their money do their research and they will find out where you are trying to hide your money if you owe them a large amount of money.
The Philadelphia asset protection trust deals mostly with offshore accounts and other protection accounts. This way your assets are not touchable by lawsuits as they are governed by another country so the lawsuits cannot legally claim them. Since there are a number of problems with fraud and offshore accounts, you need a good attorney at your side. We can guide you through the process of protecting your assets and we will make sure that we are not violating any transfer rules and that your assets will be safe.
When you establish a Philadelphia asset protection trust you will need to designate a trustee for the assets. This person is responsible for managing your assets and making sure they are properly distributed to your beneficiaries. Choose carefully when you are deciding on a trustee as you need someone that understands your wishes and has a desire to properly carry them out. Trust laws are complex, especially when you add in asset protection and overseas accounts. Allow us to manage your accounts and provide you with all the help you need to make sure your assets are safe and your loved ones will be able to acquire the benefits according to your wishes.