Selecting Asset Protection Attorney — Fast Guide
As practice shows, wealth can be vulnerable. As long as you have valuable property, there’ll always be someone who’d like to have a piece of it. That’s when an asset attorney could help.
Asset Attorney: Why Do You Need One?
As we can learn from Debtstoppers.com, an asset attorney is a legal specialist whose function is simple — protecting your property. You may need on under various scenarios, though.
For example, imagine you got into debt. It may happen due to a massive loan that you’ve taken, an unexpected lawsuit, your filing for bankruptcy, and so forth. Naturally, it will put your possessions — real estate, cars, investments, bank accounts — in danger.
If you think such a situation can be possible, you should get an asset attorney in advance. Otherwise, the court may classify your conduct as “criminal” and incriminate you asset concealing, contempt of court, and other offenses.
What You Should Know
But before you can protect your property in advance, you should make some inquiries. Let’s see the top questions that you want to ask your asset attorney.
Learn how many clients the attorney has done asset protection planning for previously. Only actual cases count: sometimes, a solo attorney’s or a legal firm’s website can claim that they have successfully solved hundreds of cases. In reality, it turns out to be an artistic exaggeration.
- More Info About Clientele
Learn about the average net worth of their clients. Here’s the reason why: liquidity needs vary from one client to another. A firm/solo attorney should work with people whose overall estate is more or less equal to yours — this way, they’ll help your needs efficiently.
The firm you’re contacting should allow all communications — calls, e-correspondence — to be attorney-privileged. Otherwise, your financial state and plans for your property can be discovered with a single subpoena.
It’s best to have a firm that covers the entirety of the US. Here’s why. You can have a property in different states: a vacation house in Orlando, a costly apartment in Pittsburgh, a business entity in Texas, etc.
The firm should be qualified to protect your assets in various jurisdictions as laws differ from state to state. Besides, they must be able to legally “accompany” you, should you move to a new place.
Though asset protection is highly restrictive about every client’s privacy, they must deliver a portfolio with successful cases.
It’s also a favorable sign if their website offers a stash of educational materials related to asset protection: articles, video tutorials, guidelines, law references, and so on.
Moreover, they should be able to explain which strategies they used to help you and how they could possibly affect your professional life, wealth, legal status, and so on. If a firm fails to do that, then you’re dealing with amateurs/fraudsters.
You also want to know their protection plan: steps, costs, time schedule, and, if possible, the chance for success. This plan will both demonstrate their level of expertise and help you avoid extra expenses.
Inquire in which law fields the firm’s attorney specializes in. It’s best if their professional scope is narrowed to one specific specialty. Also, it wouldn’t hurt to know where they earned their diplomas, where they’d had internships, and other previous practical experience.
Delays Are Dangerous
If you realize that your asset may be at stake, the time to act is now. Follow our guide, consult Debtstoppers.com, and have your estate firmly secured.