Asset protection is a crucial and fundamental step for every business. It is important to enlist the help of a lawyer to lay out a unique plan and devise appropriate strategies that help protect your commercial assets. Business owners should consult a corporate asset protection lawyer who can work with them to develop solutions and implement a plan to safeguard their resources.
Choosing Strategies that Work for YouThe particular strategies that might work best for you depend upon what type of transactions and issues you are dealing with. Whether you are trying to protect funds from creditors or mapping out a new business, our firm has the tools and wherewithal to help.
Some commercial asset protection strategies include:
- property titling;
- corporations, LLC, C-corps, S-corps, consolidations;
- assignments for the benefit of creditors;
- implementing the appropriate business structure (e.g., limited liability corporations);
- devising joint ownership arrangements;
- avoiding piercing the corporate veil;
- lien prevention;
- utilizing existing and completed transactions for lien priority;
- lien priority verifications;
- extinguishing liens;
- business succession plans;
- real estate liability planning; and
- preventing and/or identifying fraudulent transactions.
Without the right plan and corporate strategies, your business and personal assets may be at risk and susceptible to creditors.
Hiring a Commercial Asset Protection Attorney
Whatever your corporate legal needs may be, it’s important to select an attorney who works specifically with asset protection issues for businesses and corporations. Find a lawyer who can navigate financial corporate law efficiently and has a good track record of successful cases and satisfied clients.
A good corporate attorney is one who will:
- patiently explain your rights and duties;
- make sure your rights are upheld;
- be familiar with the Fraudulent Transfer Act and how to avoid breaking it;
- draft appropriate documents for your business that are error free and in your best interests;
- inform you of which business structures and planning strategies will best protect your assets;
- determine if and how to safeguard your funds from creditors;
- advise you on how to make sure your business is compliant with the laws (such as avoiding comingling and shareholder misrepresentations); and
- be able to construct a solid case and represent you in court if need be.
Acting Swiftly to Procure Your Assets
It’s important to get on the ball as soon as possible, whether you’re a small business or a large corporation. Asset protect is most effective when done before issue arise, not after storms are brewing. Forbes warned business owners: “The issue of asset protection is meant to be prophylactic, not curative. If you’re worried that you may have a claim against your business or personal assets someday, now is the time to consider protection strategies.”
Our Corporate Firm in Chicago Can Help Devise an Asset Protection Plan
Regardless of what stage of business planning you are in and what your corporate legal needs may be, our asset protection team at EV Has, LLC in Chicago can help. Click Here to email us at email@example.com or call us at (312) 775-0980 today for a free evaluation.