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Bay Area Attorney for Asset Protection

Berkeley asset protection law firm

Estate Planning Lawyer Helping Clients Protect Assets in San Francisco County

One important goal of an estate plan is to ensure that your assets are passed along to your family, heirs, and other beneficiaries after your death. However, it is also important to consider measures during your lifetime to protect your assets from potential creditors, both for your own personal use and to make sure you have something to bestow in your estate.

Asset protection is important if you have a larger estate, but certain strategies can be useful regardless of your estate's value. At the Law Office of Martin Alperen, we serve clients with estates of all shapes and sizes, and we can advise you on the best asset protection strategies for your financial situation and estate planning goals.

Asset Protection Options in San Francisco

It is important to start planning for asset protection early in your life so that you are prepared if the unexpected happens. Some useful strategies and measures for protecting your assets include:

  • Liability insurance: Car and homeowner insurance policies include liability coverage in case someone is injured on your property or in an accident for which you were at fault.
  • Revocable living trusts: Trusts are a valuable estate planning tool for protecting and distributing assets. A living trust allows you to maintain access to your property during your lifetime and to pass it to your chosen beneficiaries without going through probate. Some forms of revocable trusts also protect the assets from creditors at least until they are distributed to the beneficiaries.
  • Irrevocable trusts: An irrevocable trust offers even more protection by removing assets from your estate entirely. Though you will not be able to access these assets after establishing the trust, they also will be protected from creditors and lawsuits. Assets in an irrevocable trust can also be distributed to beneficiaries without going through probate, and they can help you avoid federal estate taxes by lowering the value of your estate below the necessary threshold.
  • Business formation and succession planning: If you are a business owner, you should take care to establish the business as a Limited Liability Company (LLC) or another similar entity, which protects your personal assets from lawsuits and claims against your business. You can also establish a succession plan to ensure your business is in good hands in the event of your death or incapacitation.
  • Prenuptial and postnuptial agreements: If you have significant assets before your marriage or you acquire them during your marriage, you may wish to create a prenuptial or postnuptial agreement with your spouse that protects them in case of a divorce. This may be especially important for a second marriage in which you already have children whom you want to provide for after your death.
  • Probate homestead: You can designate your home as a probate homestead so that after your death, it is protected from any outstanding debts or liability, and your spouse and minor children can continue to live there.

Contact a Bay Area Attorney for Asset Protection

All of the available asset protection options can be overwhelming, but when you work with an experienced attorney, we can help you understand the benefits that each of them provides and guide you through the legal processes to put them in place. We can accommodate your busy lifestyle by meeting you at a time and place of your choosing, and we offer free initial consultations to remove obstacles to starting your estate and asset protection plan as soon as possible. Contact us today at 415-534-1200. We serve clients in San Francisco County, Marin County, Alameda County, the East Bay, the North Bay, the Peninsula, and throughout the Bay Area.

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