What Is Asset Protection?

Asset protection refers to the legal strategies used to shield your property, money, and other assets from potential claims by creditors, lawsuits, or other legal threats. The goal is to preserve your wealth and limit your legal liability.

Why You Might Need Asset Protection:

• To Guard Against Lawsuits
• If you're a doctor, business owner, landlord, or in any high-risk profession, you’re more likely to face legal claims. Asset protection can keep your personal assets separate from potential business liabilities.
• To Protect Against Creditors
• If you owe debts or are worried about future financial hardship, certain structures can legally protect your home, savings, or investments.
• To Plan for the Future
• Asset protection is a key part of estate planning. You can preserve wealth for your children, avoid probate, and manage how assets are distributed.
• In Divorce Situations
• Pre-marital and post-marital agreements, trusts, and other planning tools can help protect family or inherited assets from being divided.
• To Shield Assets from Nursing Homes / Medicaid Recovery
• With proper planning (often involving trusts), families can avoid losing their home or savings to long-term care costs.