Life is full of risk.  It can arise from mundane activities such as driving a car and cutting the grass, to owning a swimming pool or a pet.  It is also a characteristic of many professions, not just the healing arts.  Owning a business, acting as a director or officer of a company, providing financial guidance, investing in real estate or construction projects, driving a truck or operating heavy machinery, all provide third parties with opportunities to sue.  Even amorous relationships, hobbies and avocational pursuits, especially fast ones, like cars, boats, airplanes and other toys, can expose your assets to risk.

However, you can take action to shield your wealth from outside risks by proactively implementing an asset protection plan.  Since this type of planning should ideally be in effect before there is a known exposure or lawsuit against you, it is important to take action sooner rather than later. Also, it does take some time to design, construct and implement a strategy that will withstand aggressive efforts to reach your wealth.

To get the best results, an asset protection plan should be tailored to your specific needs. The attorneys at Buckley Fine understand the nuances and have the experience to address your wealth protection goals.

Our attorneys will carefully assess your activities, the variety and classification of your assets, and the circumstances driving you to consider enhanced estate planning and wealth protection. We will clearly and succinctly describe the options available, including the protective strengths and weaknesses of each. Also, since we have experience with dometic and international multi-jurisictional planning, we can choose the best jurisdiction to suit your wealth protection needs.

Trusts

Trusts come in a wide variety of designs. The design of a trust for protection of wealth may differ in many respects from a trust designed for estate planning. Accomplishing the protection desired will entail the removal of direct control and access.

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Entities

Traditionally, entities have been used to shield personal assets from the liability developed from an ongoing business concern. However, a properly structured entity can also shield personal assets from the liability generated from personal vocational or avocational activities.

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Jurisdictional Selection

  • Several of the United States that Sanction Asset Protection Trusts; such as Delaware, Nevada, South Dakota and Ohio
  • Offshore Haven Jurisdictions that Sanction Self Settled Spendthrift Trusts. For example Cook Islands, Nevis, St. Lucia, Anguilla.

At Buckley Fine, our experienced attorneys work closely with clients and their families to assess options and goals, and to consider identifiable, and sometimes unidentifiable, risks. Our goal is to help you prepare for the unexpected in a way that provides peace of mind and security. We want our clients to focus on what really matters: the protection of their estate for the benefit of their loved ones. To learn more about protecting your assets, contact one of our experienced asset protection attorneys serving the Northwest suburbs of Chicago.

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