Calabasas Asset Protection Lawyer

Having high assets, many assets, or a diverse portfolio is laudable, but when you have a lot of high-worth assets, you also have a lot to lose. No one wants to lose their hard-earned holdings, businesses, and property due to liability, creditors, or divorce. A Calabasas asset protection lawyer can help devise a strategy for protecting your assets from nearly any eventuality.

Asset protection in Calabasas is never a cookie-cutter protection process but instead requires a unique plan tailored to protect each client’s individualized holdings. Contact the Calabasas asset protection law firm of Fernandez & Karney today to set up your free consultation to learn what we can do to safeguard all that you’ve worked for.

Why Choose Us for Your Asset Protection Attorneys in Calabasas?

It’s always best to put protections in place for your businesses, investments, and other holdings before there is a threat. Once a plaintiff files a lawsuit, it’s too late to safeguard your assets. When you need a proactive plan to keep your assets safe from loss, the experienced asset protection lawyers at Fernandez & Karney are ready to prioritize a strategy that suits your goals without negative impacts on your businesses, properties, or taxes. We’ll tailor a plan to protect your assets from lawsuits and other threats by doing the following:

• Helping you know your options and guiding you through the appropriate steps
• Make accurate assessments and relevant recommendations that include more than just setting up LLCs to separate business assets from personal ones
• Legally build a protective shield around your personal holdings
• Help you preserve your hard-won wealth and protect your home, accounts, retirement, and personal property
• Put protective structures in place to safeguard your assets from liability, bankruptcy, creditors, and ex-spouses
• Protect assets in the event of your death or incapacity
• Plan ahead for potential risk events and their financial consequences

It’s never too soon to safeguard your assets and provide for greater peace of mind. If you have enough assets to be concerned about losing them, then it’s time to act. The Calabasas asset protection lawyers at Fernandez and Karney are ready to help.

Understanding Asset Risks

Unfortunately, the more wealth you hold as you grow your businesses and investments, the higher the risk of becoming a target for lawsuits on top of the other vulnerabilities asset holders face daily in their financial lives. Common risks to asset holders include the following:

• Liability for professional malpractice
• Personal liability for corporate directors and other officers
• Personal liability for car accidents or injuries occurring on your premises
• Lawsuits from former business partnerships
• Liability as the guarantor of another party’s debts
• Asset deterioration due to lack of monitoring
• The division of assets during a divorce
• Creditors making claims against your estate after your death

It only takes a single lawsuit to destroy everything you’ve worked so hard to achieve and accumulate. An experienced asset protection attorney in Calabasas can assess your risks and vulnerabilities and help you put effective strategies in place for your protection. We represent clients with large corporations, small businesses, property owners, and professionals.

What Asset Protections Can We Put in Place For Your Financial Holdings?

At Fernandez & Karney, we understand that leaving your hard-won holdings at risk can keep you up at night. You’ll sleep better once we provide the legal counsel you need to protect your assets. Our Calabasas asset protection attorneys are ready to navigate the legal system to implement strategies such as:

• Forming Limited Liability Companies (LLCs) and Family Limited Partnerships
• Shielding your personal property from professional liability: simple mistakes or oversights in your business can expose you to the loss of your personal funds if protections aren’t in place
• Drafting prenuptial and postnuptial agreements: this dictates the division of assets in the event of a divorce
• Safeguards to avoid commingling separate assets with a spouse
• Protecting assets during divorce
• Forming trusts, including irrevocable trusts
• Drafting business succession plans
• Forming conservatorships and guardianships
• Protecting assets from family members with potential problems such as gambling, drug dependency, or financial problems
• Medicaid asset and VA protection funds
• Protecting assets for heirs during second marriages
• Protection against litigation scams: some opportunistic parties target those with high assets or diverse business holdings for frivolous lawsuits

It’s critical to be proactive rather than reactive when it comes to asset protection in Calabasas or elsewhere in California. We’ll put multiple strategies for wealth preservation in place to ensure your assets remain yours and pass on to your children.

What Assets Are Not at Risk?

Your asset protection lawyer from Fernandez & Karney will ensure the protection of any at-risk assets and also advise you on what assets you hold that aren’t at risk. For example, some assets are not at risk of forfeiture even in legal liability disputes or to creditors including:

• Retirement plans for teachers and public employees
• Private pensions
• Your home equity
• Luxury vehicles and cars
• Any professional tools of your trade

When making any movement or disbursement of funds, it’s always important to carefully consider the tax implications, which may be substantial. Your asset protection lawyer from Fernandez & Karney is skilled at developing plans to minimize the tax burden through proactive tax planning for all asset protection strategies.

Why Proactive Asset Protection in Calabasas is Crucial

Asset protection plans have limitations, such as the vulnerabilities that arise when you move assets or disburse them. It’s important to have a skilled asset protection lawyer in Calabasas to advise you before you make these financial moves so we can continue to devise legal strategies to guard assets from creditors and litigation. Once a creditor claims an asset it’s illegal to attempt to move, disburse, or hide it. If a legal dispute arises, it’s essential to have your assets legally untouchable.

No one anticipates a lawsuit, but California asset holders face around one million lawsuits each year, making it one of the country’s most litigious states. Jury awards tend to be extravagant and sometimes based on feelings rather than the law. It’s important to protect your hard-earned assets to safeguard against any lawsuits that could arise as well as other potential losses.

Call the Calabasas Asset Protection Lawyers at Fernandez & Karney Today

There is no simple, universal asset plan that protects all asset holders from loss. Instead, you need skilled legal counsel to devise a plan of action for all your diverse holdings. The Calabasas asset protection lawyers at Fernandez & Karney are ready to assist you with all facets of your financial protection planning. Call our Calabasas law office today (310) 622-9434 for a free consultation.