Western Michigan Asset Protection Lawyers
Asset protection services have recently gone from a tax avoidance tool for the exceptionally wealthy to a mainstream necessity for business owners and investors who are seeking wealth preservation. Prevalent use of personal guaranties by banks and creditors has created overwhelming personal exposure for most business owners and investors. The constricting credit market and aggressive tactics employed by banks and creditors have converged to underscore the value of proper asset protection planning.
A proper asset protection analysis will evaluate present solvency issues and identify the best allocation of resources among different classes of assets and investments. Unfortunately, there are common misperceptions, among individuals and creditors alike, about the security of home equity, 401ks, IRAs, 529 plans, insurance/annuity products, trusts, joint checking accounts and various other assets and investment vehicles. It is also critical to evaluate and understand the impact and risks associated with transferring assets and other asset management techniques.
While it is important to consider what assets can be placed beyond the reach of creditors, it is also crucial to understand what assets and how much of their value can be preserved if it becomes necessary to seek bankruptcy protection. We invite you to contact Todd Almassian at 616-364-2100 if you would like to discuss the firm's asset protection services.
You may contact one of our Grand Rapids attorneys at 616-364-2100 or by e-mail.