Asset Protection Law Firm
An Experienced Asset Protection Law Firm
Securing your Financial Future in California
You have devoted your profession to building your monetary well-being. Absence of vital estate planning and asset protection can put your hard-earned resources in danger.
Gallagher Krich, APC, has helped people throughout California with making powerful asset protection plans for over a decade. Our law firm will empower you to protect the rewards of your hard work by protecting your finances and property to the utmost to help secure your future and your family’s prosperity.
Estate Planning Tools
Our estate planning attorneys and staff can direct you on choosing the correct instruments — including certified financial planner (CFP), accountants and trusts — that will enable you to protect your property for you and your family.
The property you move into a trust, limited partnership, LLC or corporation may assist your accountant or tax preparer to minimum tax liability for an individual or business.
Corporate Formation Options
Our firm can advise you on selecting the best type of corporate entity for your business. Certain corporate structures separate your own property from that of by your business. Individuals who go into business without a business entity are running a sole proprietorship by default in the State of California, a partnership, without more does not give you or your partner the benefit of limited liability.
If you run a small to mid-sized private company, you might be putting your own property at unnecessary risk by commingling your personal property with business assets. Our gifted lawyers instruct you on development with respect to the fitting corporate element that shields your personal assets from the liabilities incurred by your business. A limited liability company or corporation are great vehicles to avoid carrying unnecessary business risks created by only having a sole proprietorship or general partnership.
Wealthy individuals or businesses owners may want to place assets into trust, obtain insurance, and avoid anyone making a claim against you or your business from “piercing the corporate veil” in an effort to pursue your personal assets for liabilities for your business. Normally the business judgment rule will protect reasonable decisions made in good faith that you make as a corporate executive. In most cases, a claimant against your company will not be able to pursue your personal assets for a debt or liability incurred against a properly formed corporation or limited liability company.
Certain trust assets can also be passed on to your family without the need for probate with minimal inheritance tax liability or placed into spendthrift or special needs trusts to further insulate your family members with limited means from having sizeable family assets seized and thus allow them a means to sustain themselves free from levy, foreclosure or garnishment of family trust assets.
Become familiar with how we can give better you better security and peace of mind. Give us a call at (858) 926-5797 to get started today.