Beautyman Associates, P.C.
Asset Protection

To protect your assets from creditors, consider the following approaches:

  • Own property as "tenants by entireties" with your spouse, provided your spouse will not be a debtor to the same creditor, your spouse is not involved in your practice, and you are not planning on getting a divorce.
  • Make gifts to family members or others, but retain no control over the property.
  • Set up Dynasty Trusts for you children and grandchildren.
  • Create a family limited partnership. Where minors are involved, create a limited partnership interest owned by a domestic trust or foreign corporation.
  • Create a family limited partnership coupled with an asset protection trust with either a domestic (Alaska, Delaware) or foreign situs, but you should not serve as trustee of the trust.
  • Use foreign situs or offshore trust under the laws of the Cook Islands or Belize. 

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