Asset Protection Planning in Colorado | Boulder Asset Protection Lawyer
As a Boulder asset protection attorney James Newell routinely helps clients with asset protection planning. Generally speaking, asset protection planning should be combined with estate planning, as the more seamless the estate/asset protection plan, and the longer it is in place, the more likely it will stand up to the greatest of attempted legal attacks.
If you’re unfamiliar with asset protection planning, it would be natural to ask “why is an asset protection structure necessary in the first place?” What necessitates the creation of a potentially complicated legal structure, requiring continual administration and a long-term monetary and time commitment? What benefit is worth such costs?
While the reasons why my clients seek assistance with asset protection planning vary from person to person, from the 10,000’ level, the overarching reasons for asset protection planning can be summarized within this quote from author Joan Didion: “… the secret point of money and power in America is neither the things that money can buy nor power for power’s sake … but absolute personal freedom, mobility, privacy.” My asset protection clients seek freedom, mobility and privacy. That is, maximum financial freedom and mobility, which can be afforded with asset protection trusts. The potential of freedom from the total loss of one’s personal assets, in the event a worst-case scenario lawsuit. And privacy, which can be afforded, to varying extents, through the use of various asset protection planning structures. The freedom, mobility and privacy afforded by asset protection planning is, for many, well worth the costs.
Those goals often achieved in different ways for different people. For most people, overseas asset protection trusts are overkill. Most people don’t want or need a metaphorical Fort Knox to protect their assets (i.e., an overseas asset protection trust). Instead, what most people need is a very secure and strong safe located within their own home. Depending on your needs, we can do one or both. Each asset protection plan is unique so, if you are interested in asset protection planning, please reach out to me to schedule a consultation and we can work together to determine a way forward on a plan that will be well suited to your needs.
If you are looking for a Boulder Asset Protection Attorney with a results oriented approach tailored to your matter’s specific needs, contact the Newell Law. We have the experience and knowledge to ensure you are well informed and protected when it comes to asset protection planning.