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Gevurtz Menashe

PDX 503.227.1515
WA 360.823.0410

Asset Protection Planning

Estate Planning
‚ÄčThe estate planning attorneys at Gevurtz Menashe have a deep understanding of asset protection law and planning. As part of the initial planning phase, we can help structure your estate to best suit the long term interests of yourself and your family. Give us a call at (503) 227-1515, or contact us online to discuss your asset planning or protection needs.

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Asset protection planning attorneys

‚ÄčAsset protection planning involves structuring assets to reduce exposure to a creditor attack. This can include the use of irrevocable trusts, retitling assets, contributions to retirement accounts, and family limited liability companies or limited partnerships. In developing an estate plan, our attorneys will identify and implement strategies to help maximize protection from creditors.

How Does It Work?

Asset protection planning should begin well before a major event such as a lawsuit or divorce— if you hesitate, it may be too late to protect your assets. Proper asset protection requires long-term planning and Gevurtz Menashe’s estate planning attorneys have the experience to take you through the asset protection planning process, from start to finish.

There are numerous strategies for asset protection, some more effective than others. Depending on your particular reason for protecting your assets— whether you are a landlord, business owner, professional with malpractice exposure or an individual wanting to protect against the property division in a high asset divorce— there are various ways we help clients protect their assets.

Creating A Business Entity

Creating a separate business entity, if structured properly, can operate to shield your personal money and other assets from liabilities of your business.

A Limited Liability Companies (LLC), corporation or Family Limited Partnership (FLP) may not only offer asset protection benefits but can also be utilized to help reduce estate taxes. An experienced Gevurtz Menashe attorney can help structure your family’s assets to reduce your estate's liability and protect your assets both while you are living and after you have passed.

Irrevocable Trusts

An irrevocable trust is one that cannot be changed or revoked once it is established. Upon establishing an irrevocable trust, the trust creator (or the “grantor”) transfers assets to the trust. A well-structured irrevocable trust can help protect the grantor from creditors because, once assets are contributed to an irrevocable trust, they are no longer in the possession of the trust grantor. Without legal ownership of an asset, it can be difficult for creditors to reach that asset when they try to collect. All transfers must be made in good faith, as a court can act on the behalf of a creditor to undo an asset transfer if that transaction was found to be fraudulent.

A trust attorney can work with you to make sure that an irrevocable trust is satisfactorily structured from conception. You want to ensure your wishes for the trust are clear and will best serve its beneficiaries when they come into control of the assets. If you want the trust to be used for educational purposes or to care for a person with special needs, a trust attorney can structure the trust with those special considerations in mind. It takes an attorney with deep knowledge of trust law to ensure that these matters are handled effectively.

Need asset protection planning help? Give us a call.

Gevurtz Menashe is dedicated to family law and estate planning. Our team has over 30 years of experience protecting family and individual assets throughout Oregon and Washington. Our estate planning attorneys take great pride in helping clients create a life-long financial structure and plan to ensure their assets are protected.

Want to learn more? Give us a call at (503) 227-1515 in Portland, Vancouver at 360-823-0410, or schedule a consultation online. We look forward to working with you. 
 

Call our Portland, OR offices at: 503-227-1515
and our Vancouver, WA office at 360-823-0410
or contact us to request a consultation.