Having adequate insurance is always the first line of defense when it comes to protecting your assets. Be sure your coverage is sufficient for the value of your holdings.
An Asset Protection plan should be put into place before you have a problem. Moving assets out of reach of a creditor after you learn of a problem may be considered a fraudulent conveyance. It is important to plan ahead.
Yes it does. Certain states’ statutes are better than others. If possible you want to choose a state with a charging order statute and case law. It is important that the statute be incorporated in the Operating Agreement. The attorneys at DBL can advise you.
No. It is important to maintain separate accounts and keep all monies strictly separated. Never co-mingle the funds! This is critical so that it is clear to a creditor – and a judge – that your LLC is a legitimate entity.
Contact us using the form on the right, or call our office today if you have other questions.