Asset Protection and Business Planning

In addition to Estate Planning, Lisa can implement a variety of other asset protection strategies designed to protect those with high incomes, such as doctors, or those who own high-risk investments, like owners of rental properties, from losing their assets to creditors. Strategies include setting up entities such as ``Limited Liability Companies” or ``Family Limited Partnerships” as the legal owners of assets so that creditors will have a difficult if not impossible time getting their hands on those assets. Aside from creditor protection, a Family Limited Partnership or Family Limited Liability Company can also save your family up to 50 percent in estate and gift taxes.

Strategies such as “Buy-Sell Agreements” should be implemented to protect those who own properties or businesses with more than one person. If attorney Rice’s grandmother had a Buy-Sell Agreement, her family would have avoided four years of litigation, a huge family fight and the loss of the family ranch.

In addition, Lisa can help multiple and single owner businesses with strategies that will allow them to sell their businesses for more, while minimizing taxes. These plans are ideally put in place 5-10 years prior to the time the owner anticipates leaving the business.

Lisa will be happy to explain these strategies to you and to set up the ones from which you are most likely to benefit.