Asset Protection

 

At MarkSetGo Law, we offer a range of advanced asset protection strategies tailored to safeguard your wealth from potential risks like creditors, lawsuits, and excessive taxation. Our goal is to preserve your financial legacy through comprehensive legal structures, including business trusts, holding companies, and LLCs.

Business Trusts

Business trusts are powerful tools for protecting and managing assets while maintaining operational flexibility. We can help you create a revocable or irrevocable trust, depending on your needs. Here’s how these trusts work:

Revocable Trusts: These allow you to retain control over assets and make changes during your lifetime. While revocable trusts offer flexibility, they do not fully protect against creditors since assets can still be claimed in legal disputes.

Irrevocable Trusts: These trusts remove assets from your control, placing them beyond the reach of creditors. Once established, irrevocable trusts cannot be changed, providing enhanced protection but requiring careful planning.

We help you customize trust agreements, ensuring your assets are protected while addressing estate planning, tax mitigation, and family legacy needs.

Holding Companies

 

 

Setting up a holding company is an effective strategy for protecting assets and streamlining business operations. A holding company can own multiple LLCs or corporations, shielding your personal wealth from business liabilities. Here are some ways we implement holding companies:

Real Estate Holding Companies: Protect your real estate investments by placing them under a holding company, separating personal and business assets. This structure limits exposure to litigation arising from property ownership, such as tenant disputes.

General Holding Companies: By placing different business ventures under a holding company, you reduce liability risks and centralize management, making your business operations more efficient. A holding company also allows you to lease assets to subsidiary companies, creating tax advantages.

LLCs and Layered Protection

 

 

We also specialize in setting up Limited Liability Companies (LLCs) as part of your asset protection plan. LLCs provide personal liability protection by separating your personal assets from business risks. By using a layered approach, we can form multiple LLCs or series LLCs, further dividing assets to limit exposure in the event of legal action.

Charging Order Protection: In states like Wyoming, LLCs provide enhanced protection through charging orders, which limit creditors to a share of the LLC’s profits without granting ownership or control of the business.

Combining Strategies for Optimal Protection

 

 

For maximum protection, we often combine trusts, LLCs, and holding companies into a cohesive strategy:

Trust and Holding Company Structures: For example, we may place a business trust as the owner of a holding company, with multiple LLCs beneath it. This structure layers protection and provides flexibility for managing different business ventures or assets under a single entity.

Offshore Trusts: In certain cases, we may recommend offshore asset protection trusts, which are established in jurisdictions with stronger asset protection laws. These trusts provide an additional layer of security, making it difficult for creditors to access assets.

Risk Management and Tax Efficiency

 

 

In addition to protecting your assets, we help you develop strategies that optimize tax efficiency. By structuring your business operations within trusts and holding companies, we can help reduce your tax liability and ensure compliance with IRS regulations. These strategies may include:

S-Corp or LLC Elections: We advise on the best tax election for your LLCs to ensure maximum tax savings while maintaining liability protection.

Every client’s financial situation is unique, which is why we tailor our asset protection plans to meet your specific needs. Whether you’re a business owner with multiple ventures or an individual with real estate investments, we provide a customized approach that shields your assets from risk while preserving your wealth for future generations.

At MarkSetGo Law, we offer the legal expertise and strategic guidance needed to implement a robust asset protection plan. Contact us today to learn more about how we can protect your financial legacy.

 

Let’s Work Together