Let Bryce Law Offices Find a Proactive Way to Shield Your Wealth
Peace of mind comes from knowing that you have planned for the unexpected. We already plan for the unexpected when it comes to caring for our loved ones by getting life insurance. We plan for the unexpected when it comes to illness by getting health insurance. So, why not plan for the unexpected when it comes to a divorce, or an auto accident? The way to guard your wealth from potential creditors is to find an experienced asset protection attorney to design a protection plan to suit your life.
What is Asset Protection Planning?
Asset protection planning is simply creating a way in which to guard your assets from potential claims by creditors. Both individuals and businesses use asset protection to limit the assets available to creditors should creditors have a cause to come after those assets.
For Businesses and Business Owners
If you own a business, asset protection planning is vital. Indeed, dealing with lawsuits can be a common part of any business venture and the larger the business, the better chance there is for a lawsuit.
Specifically, businesses face employment discrimination lawsuits, malpractice claims, trademark infringement suits, breach of contract claims, and workers’ compensation claims. All of those types of disputes create a potential for substantial liability exposure. Accordingly, you would be wise to consult with an attorney to keep any assets, business or personal, outside the reach of potential creditors.
Even if you do not own a business, personal asset protection is still a smart move. Asset protection is not just for the wealthiest 1% in the country. People with modest assets – such as a home, stock investments, or valuable antiques – would be well served by creating an asset protection plan with a qualified attorney.
You may think that you would not need to worry about lawsuits in your personal life. Think again! Divorces, auto accidents, guests getting injured in your home, unforeseen medical issues, and home foreclosures all could lead to a disruptive, and possibly life-changing, lawsuit. Why not consult an attorney to explore how to minimize the impact such a lawsuit would have on your hard-earned nest egg.
Can’t I Just Protect My Assets Once a Lawsuit is Filed?
The short answer to that question is a resounding “No.” The lynchpin to an effective asset protection plan is to design a way to protect your important assets in advance of any claim of liability. Simply stated, asset protection should occur before any lawsuit is even on the horizon.
Once a claim is made against you or your business, or once liability is established, it is too late to try to protect certain assets. In fact, any move you make to shield assets after a claim is made will be viewed as a fraudulent transfer, which is illegal. At that point, a court would simply undo whatever asset protection transaction you attempted, and then sanction you for making the attempt. All the time, people try to hide assets through concealment, contempt, tax evasion, or bankruptcy fraud when creditors come knocking. All of those activities are illegal.
Avoid all of those problems by employing the help of a seasoned asset protection attorney now.
Why Use Phil Bryce to Help Protect My Assets?
Simply put, Philip J. Bryce is the best in the business when it comes to asset protection planning. Recently named a Cityview Top Attorney, Phil has represented clients in the Knoxville, TN region for over 30 years. Moreover, as a CPA, Phil adds an accounting discipline to his law practice that other lawyers cannot provide.
Over his impressive career, Phil has established a reputation for legal excellence in his field while working tirelessly for each and every one of his clients. Phil makes a point to understand all aspects of a client’s portfolio to ensure that he provides a protection plan that is effective, efficient, and reflects precisely what the client wants.
By using asset protection tools like business entities, insurance, retirement accounts, and trusts, Phil has a proven track record of success in designing iron-clad asset protection plans over the years. Moreover, as an expert in the field of asset protection, Phil has frequently been invited to lecture on the subject.
Accordingly, the reason to work with Phil on protecting your most important assets is because he will provide you with a winning combination of (i) sound legal advice, (ii) technical know-how, and (iii) a protection plan suited to your needs. Call Bryce Law Offices today at (865) 690-5566 for a free consultation.