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Asset Protection Basics

Your hard-earned assets can be put in jeopardy in any number of ways. No matter what they are, Klueger & Stein, LLP's asset protection planning can help preserve them.

Here are some reasons you might need protection:

You are faced with a lawsuit.

Do not be fooled — even if you are innocent, that does not mean the courts are on your side. Jurors often side with the plaintiff who appears to need the funds in question rather than the defendant who they assume has money to spare.

Even a judge's own personal feelings can put you in jeopardy.

Many of our clients believe that once a lawsuit has been filed against them, it is too late to shield assets from plaintiffs. They are happy to learn that usually there is still a lot they can do to protect their assets.

As long as I am allowed to redistribute wealth from out-of-state companies to injured in-state plaintiffs, I shall continue to do so. Not only is my sleep enhanced when I give someone else's money away, but so is my job security, because in-state plaintiffs, their families and their friends will re-elect me.
-West Virginia Supreme Court justice

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You are in a high-risk business.

Many businesses and professions carry extraordinary financial risks that insurance alone can't protect against. Medicine is a good example. Malpractice premiums are often barely affordable. Insurance does not cover many claims. Similarly impacted are real estate developers and builders and small business owners.

Over the past decade, our attorneys have represented hundreds of physicians, real estate developers, corporate directors and officers and small business owners. We know and understand the risks your business faces, and how to best shield your assets from these risks.

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You have been in an accident.

Even if an auto accident is minor, claims against you can be substantial. You can be sued for emotional damages, physical pain or a spurious claim like whiplash. There are approximately 150,000 practicing attorneys in California. Many of them look to your assets to make a living.

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You are getting divorced.

Divorces can be rending, emotionally and financially. Community property laws and the often unpredictable vagaries of judges can make the process even more painful and costly. At BK&S, we can help plan ahead to reduce both the pain and the costs of a divorce.

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You are being pursued by a federal or state agency.

No creditor is more powerful and determined to use their power than a government agency. But in terms of debtor-creditor law, they often stand in the same position as most other creditors. With proper advanced planning, your assets can be protected against potential claims and investigations of the government.

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