Asset Protection
Asset protection is the process of safeguarding your wealth by lessening the risk that future claimants may attach your assets. We offer diverse solutions for protecting your property including:
- Formation of LLCs to own a specific asset or class of assets
- Spendthrift provisions in trusts to protect beneficiaries
- Domestic asset protection trusts
- Offshore trusts
Asset protection planning has a centuries old tradition in the common law of trusts. However, US citizens are subject to worldwide income taxation and various reporting requirements, and asset protection planning is not suitable for all clients.
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication is not intended or written to be used for the purpose of avoiding tax-related obligations or penalties under the Internal Revenue Code.
Please call us at 312-427-9150 or contact us online for further information.