Use of Trusts in Asset Protection
In today’s society, lawsuits are increasingly being used as a way to accumulate wealth. If you want to protect your assets from creditors, a trust may be a beneficial layer of protection for you.
Seasoned Colorado lawyers can structure a domestic or offshore trust that will help you protect your assets and meet your unique financial goals. Our firm has served the Greater Denver, JeffCo and Front Range areas for more than 21 years, and we are dedicated to creating long-term relationships with our clients.
Like other methods of asset protection, a trust must be in place before a lawsuit is even threatened in order to protect you. To discuss using a trust as a way to protect your assets, contact our firm online or call us toll free at 888-806-7304.
How Can a Trust Help Me Protect My Assets?
A trust is a legal tool that allows you to separate high liability assets and transfer ownership of them to another party. The philosophy of a trust is that creditors cannot take from you what you do not own, thus if you are sued, the assets in a trust will be out of reach to creditors.
Offshore trusts are considered the most protective of all because they are formed under the laws of another country’s jurisdiction. This makes your assets difficult to find and prevents U.S. creditors or courts from gaining access to the assets in the trust because they are governed by the country where the trust is held.
Before recommending a trust, we will spend time learning about your assets and discussing what is important to you to determine if a trust is the right strategy for you. We will discuss all of your options in detail so you can be sure you are making the best decision for you. Additionally, we will make you aware of other layers of asset protection that might be beneficial to you.
The best time to discuss your asset protection strategy is before you are faced with a threat; however, if you are in the midst of a lawsuit, we can help you determine ways to protect your assets in the future.