Our experienced attorneys who focus on Asset Protection believe that it is more achievable than many other legal outcomes. We generally recommend:
Avoid risk-oriented activities unless you have adequately determined that suitable insurance coverage is in place, or that the risk/benefit is satisfactory for taking the risk;
Consult with a qualified insurance agent and attorney skilled in insurance law to be sure you know what is, and equally important what is not, insured;
Own assets that are most likely to be exempt from the claim of your creditors;
Title your assets in an appropriate manner, utilizing business entities, trusts, or contractual arrangements which are appropriate to the circumstances; and
After addressing (1) through (4) above, if you fear that financial difficulties may be ahead, consult with an attorney as soon as possible who is familiar with federal bankruptcy laws and appropriate risk mitigation options.