Protecting Your Property from Creditor Claims in Indiana
Experienced representation to preserve what’s yours when liabilities arise
Asset protection planning involves protecting and preserving your property from the claims of creditors. At its simplest, this planning begins with adequate insurance, married couples' ownership of their homes in tenancy by the entirety (as opposed to joint tenancy) and basic exemption planning by the preferential structuring of assets to avoid liens, seizures and other collection methods. The Law Offices Of Michael T. Sawyier offers asset protection planning in Indiana, Illinois and Michigan and may be able to assist you in avoiding losing your possessions to creditors.
Protecting and preserving your hard-earned assets
An asset protection plan protects your personal assets from the claims of potential creditors. This planning includes the cost-effective use of LLCs and trusts. As one of our firm’s core practices, we bring more than 40 years of experience in structuring asset protection plans again debt stemming from liability.
At its most complex, this planning also involves the use of irrevocable offshore and domestic asset protection trusts with trust protector provisions. However, even an ordinary revocable grantor trust, if fully funded, confers a measure of asset protection after the grantor's death.
When do you need to protect assets?
The best property protection planning is done before you’re liable for the debt. However, the sooner you implement an asset protection plan, the sooner you have protection against unforeseen liabilities. The Law Offices Of Michael T. Sawyier, in Chesterton, IN, guides you through the process and helps you avoid creditors, judgments and potential bankruptcy. An experienced attorney can help you exempt assets from creditors, ensure you have adequate insurance, and limit your liability through the use of legal entities. We support your asset protection plans in numerous ways:
- Draft wills and trust documents that limit property available to creditors
- Explain "spend down" approaches for retirement planning
- Help you obtain liability insurance, life insurance, annuities and IRAs
- Create protected legal structures, such as limited partnerships, LLCs and corporations
- Convert nonexempt assets into exempt assets
- Work within the bankruptcy exemptions, such as homestead exemptions, clothing, and other items you are allowed to keep under the law
Proactive asset protection planning prepares for unknown futures
Asset protection in the larger sense, like estate planning, extends to the judicious selection and diversification of investments in accordance with an overall financial plan. Our firm is pleased to work closely with certified professional financial planners and other highly qualified insurance, investment and accounting professionals as part of an overall professional team working together to further our clients’ interests.
The Law Offices Of Michael T. Sawyier seeks to protect client assets in the most cost-effective way possible. Mr. Sawyier's experience in bankruptcy law and creditors' rights, as well as the firm's expertise in trusts and limited liability entities, enables us to provide this assistance to clients at a reasonable cost. Contact us today online to learn more about our asset protection services or call us at 855-402-5961.
We serve clients throughout Indiana, Illinois and Michigan.