A major concern of business owners and professionals is how to protect their assets from creditors. At Max Alavi, Attorney at Law, APC, we help small businesses and professionals alike protect their assets by implementing strategic asset protection plans to fit the needs of our clients. Our knowledge of state exemptions and estate planning methods will shield your assets from creditors and ensure that you and your loved ones are protected while at the same time minimizing the taxes owed on your assets.
Asset Protection is the lawful transfer of assets, or the establishment of a structure primarily for estate planning or business reasons, but with due consideration given to protection against claims
of creditors. Essentially, Asset Protection Planning is the practice of using a variety of estate planning and business planning techniques and strategies that collaterally conserve or protect accumulated and future wealth from involuntary transfers to “others”.
Below are just some of the methods and strategies used at Max Alavi, Attorney at Law, APC to help protect our client’s assets.
- Irrevocable spendthrift trusts
- A spendthrift trust is a trust that allows the trustee full authority to decide how trust funds may be spent for the benefit of the beneficiary
- Various Grantor Type trusts.
Use of Legal entities
- Series LLCs
- A Series Limited Liability Company is a form of limited liability company (LLC) that provides liability protection across multiple “series,” each of which is protected from liabilities arising from the other series in the overall structure.
- Self-settled Trusts and Nevada or Delaware LLCs
- A self-settled trust is a type of trust where the creator of the trust (the Settlor) is also the beneficiary of the trust and is in line to reap the benefits of the trust under the terms as administered by an independent individual or corporate trustee. Combined with LLCs from certain jurisdictions, a self-settled trust is the perfect solution for forward looking asset protection.