The area of “Asset Protection” may involve creation of business entities such as limited partnerships, limited liability companies or corporations or the creation of what have come to be known as “Alaska” or “Offshore” Trusts. Estate plans can be used to create a means of protecting assets for the benefit of the deceased’s loved one instead of their “predators” and creditors. The scope of asset protection planning usually explores the relationship between control of the asset compared to the loss of control required to afford protection of the asset from creditors or predators.
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