Asset Protection

We help individuals and families pursue their ideal retirements.

Asset Protection Strategies in Montgomery County, PA

Earning a living is only part of the path to financial freedom. You also need significant money management strategies and solutions to make the most of your money. Many people are great at their jobs and at earning money, but most lack the experience and skills to achieve real financial independence. That’s where a good wealth management professional and an independent financial services firm can help.
At Preservation Wealth Management, we provide asset protection strategies that combine both legal protection and financial plans to prevent your assets from seizure in a lawsuit. We take a look at each client’s personal assets and determine the best plan to protect each. Because every situation is different, the plans for each client are specifically designed by our experts.

Asset Protection Planning

While pre-planning is best, there are ways that you can protect yourself even after a lawsuit is filed. There are five common ways that financial planners can help with asset protection strategies.
  • Creating LLCs. These Limited Liability Companies prevent creditors from taking assets owned by the LLC. LLCs are an integral part of tax planning services, as they can also help reduce the taxes you’d pay.
  • Creating an asset protection trust. These can be either foreign or domestic and are the only kind of asset protection that can still protect you after a lawsuit is filed.
  • Not personally owning anything. While you should have your own possessions, if you’re the legal owner of certain non-exempt assets, then these can be included as part of a lawsuit settlement. Instead, many savvy financial protection experts recommend that your sizable assets be held in trust.
  • Using distinct legal tools, separate from financial planning. This can include holding investment real estate in an LLC instead of having it in your name. If you’re sued, you could lose potentially all of it, versus the protection that an LLC affords.
  • Avoiding making yourself a target. Don’t flaunt your wealth or put on displays that may make you a target for frivolous lawsuits.

Asset Protection Trust

An asset protection trust is probably the most comprehensive of our asset protection strategies, and one that needs to be set up professionally in order to ensure that it’s protected in a court of law. In fact, asset protection trusts are the most powerful when they’re established offshore, which prevents courts in King of Prussia, Montgomery County, Chester County, Delaware County, Bucks County, and Lehigh County, PA, from having jurisdiction over your assets.
Offshore trusts are one of the few asset protection strategies that can still work after a lawsuit is filed. When these are constructed properly, the funds or physical assets are protected from creditors, while still allowing the owner to have access to the asset. Asset protection trusts can also protect from income taxes and even protect the bulk of the asset from an heir that might not manage the funds responsibly. Or, you can use an asset trust as part of your retirement planning, avoiding excess tax.

Book Your Asset Protection Planning Strategy Today!

Preservation Wealth Management is a team of financial experts dedicated to helping our clients grow their investments, engage in tax minimization strategies, and develop a robust portfolio of investments to grow their wealth. We create custom investment plans to address your financial goals and help with education along the way, giving you greater insight into different investment plans.
Give us a call today to schedule your first financial planning session and analysis of your life insurance services and see how our asset protection strategies can help you protect your wealth and hard work. We represent clients in King of Prussia, Montgomery County, Chester County, Delaware County, Bucks County, and Lehigh County, PA. Contact us today for more information!
We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.
Neither the firm nor its agents may give tax advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation.
Investment advisory services provided by Steven A. Suib as an investment advisor representative of Preservation Wealth Management.
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.
Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured.
The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.