For both businesses and individuals, asset protection offers an opportunity to plan for certain contingencies.
For the business, that can mean choosing an appropriate corporate structure and having solid agreements among stakeholders about the ownership and governance. It also can mean having meticulously drafted contracts, service agreements, and policies. And it can answer the question of what happens when a key person is unavailable.
For individuals and families, it can involve having an estate plan, a healthcare plan, and a financial plan. And for the entrepreneurs and business owners, it can provide mechanisms for someone to step in during an emergency.
State law provides some default answers to these types of questions, but they are not necessarily the ones that are best for a particular business or individual, and are not necessarily the quickest or easiest to implement. You can choose to make these decisions yourself, and manage the uncertainty of the future. Give us a call today and choose a more defined path.