Asset Protection for Your Personal Finances During and After Divorce
Corporate Formation and Estate Planning Services for Individuals and Families
In Family law matters, creditors are an important consideration. With more than 20 years' experience with business law, I have significant experience with startups and business formation and counseling. At my firm, we counsel corporate clients in a number of fields and have helped numerous businesses plan and start new enterprises. Asset protection is important to deal with creditors, attachment due to business, as opposed to personal liabilities, and other factors, such as tax planning or transfer of wealth upon death. We assist clients in the following areas:
- C-Corp Formation
- S-Corp Formation
- Professional Corp's for Lawyers, Doctors and CPA's
- LLC Formation
- Estate Planning such as Trusts
YOU MUST NOT DISTURB A CREDITOR WHO HAS ALREADY PERFECTED A CLAIM. IF YOUR ASSETS HAVE BEEN ATTACHED, YOU CANNOT TAKE ADVANTAGE OF ANY OF THESE SERVICES. THAT WOULD BE ILLEGAL AND YOU ARE ENCOURAGED TO CONSIDER THESE ISSUES PRIOR TO MARRIAGE OR HAVING CHILDREN IF YOU ARE NOT MARRIED.
Benefits of Forming a Business Entity
There are many reasons to form a legal entity to transact business. It is important that creditors of your business are not able to seek personal ssets if there is a business dispute. This is the main reason to keep personal and business interest separate. Common examples of financial items to keep separate are:
- Leases to Real Property
- Purchases and Leases to equipment
- Employee and Labor issues
- Tax and EDD issues
- Health Insurance
- Retirement Accounts
- Assets and Debts
For years, my firm has counseled clients on the selection of business entities, drafting prospectuses and assisting with business plans and operations. We advise on employee and independent contractor issues, licensing, permits and all related business management issues. Let our 20+ years of corporate knowledge help you through starting a business. We can help with contracts, transactions and business litigation matters in California.
Personal Assets v. Business Assets
For individuals attempting to protect personal assets, the correct way is to form a Trust or an Estate Plan. For Businesses, it is important to keep business assets separate from personal assets. This prevents creditors from piercing the corporate veil or pursuing an alter-ego theory of liability to reach personal assets held by a corporation. These planning steps may work against each other since, gifts are common in estate planning. Gifts given to Family members or heirs for estate planning purposes, are at risk for being set aside as being a fraudulent transfer, if considered asset protection. It is imperative to fully discuss these options with Estate Planning Counsel.
Plan Now before your assets are at risk
With business savvy, you are no doubt well-informed with corporate and business law. However, there is no substitute for a family lawyer with unique business law experience on your side to help protect you from making costly mistakes. Call 310-246-3900 or send an email to Bradley@sandlerlawfirm.com to schedule a meeting at my Beverly Hills Law Office.