ASSET PROTECTION FOR ALABAMA BUSINESS OWNERS

Asset Protection for Alabama Business Owners

With well-thought-out strategies, we can help provide asset protection for Alabama business owners in Alabama against various risk of loss. What type of loss might a business owner face? Both business and personal assets may be vulnerable to seizure due to lawsuits, creditors, or bankruptcies.

Some business entities in Alabama offer greater protection than others. Limited liability companies and corporations offer great risk management benefits, but have their pitfalls also. We know how to use the law to your advantage in selecting the right business entity and greatest protection of your assets.

You’ve worked hard to build your business and your wealth. Talk to us today about protecting them.

Protection Against Lawsuits

One way to safeguard your assets is to give them, or title them, to a family member.  However, in doing so, you put your assets at risk to their creditors including lawsuits, bankruptcy and divorce.  Transferring assets to an irrevocable trust is usually a much better way strategy against judgments obtained from a lawsuit. There are pros and cons to any asset protection strategy. We offer our clients the best strategies based on their circumstances.

Cayman Accounts – Offshore asset protection trusts.

Another way to protect assets is through an offshore asset protection trust or irrevocable domestic asset protection trust (DAPT). Offshore asset protection trusts are set up in countries that are friendly to trust makers and unfriendly to foreign creditors.

Alabama does not allow the use of DAPTs. While they can be set up in a state that does allow DAPTs, there’s just no guarantee at this time that an Alabama resident’s assets would truly be protected.

One Important Thing to Remember.

Transferring assets under certain circumstances can be considered fraudulent transfers. Consult with an attorney before attempting to safeguard any assets.

We Can Help Protect your Assets.

The strategies mentioned above are not the only options. At Miller Estate and Elder Law, we offer our clients a plan customized to their special needs. Call us at 256-472-1900 or use our Contact Form to let us know you’re ready to develop asset protection strategies, as well as general estate planning.

Contact Us

Testimonials

“We started with a group of lawyers and helpers and ended with new friends! Everyone was so nice and friendly, even outside the office, and you always knew us by name. You were very professional, helpful with all questions and you put things on a human level.”

Wendell & Martha

“I am very satisfied and optimistic about what will happen to my children and my assets after my death. Mr. Miller explained everything to me and gave me information to help me make these decisions. You’re outstanding and I am completely satisfied with the results of my encounter with this firm.”

Geneva

“We expected a complete estate established that protects our assets and we received that protection. Your firm did an excellent job!”

Hayward & Naldia

“Bill and Mary were very much people persons. Your firm is competent as well as personable.”

Charles & Susie

“Working with you (Miller Estate and Elder Law) has been a pleasant experience.”

Chris & Dot

“I got a firm that was caring, understanding and knowledgeable. No one can beat Miller Estate and Elder Law Attorneys!!”

Lynn

Miller Estate and Elder Law

 256-472-1900
bill@millerestateandelderlaw.com

Anniston Office

818 Leighton Ave.
Anniston, AL 36207

Birmingham Office

100 Perimeter Park S Suite 100 N
Birmingham, AL

Disclaimer

A decision on legal services is important, and should not be based solely on advertisement.

No representation is made that the quality of the legal services to be performed is greater than the quality of the legal services performed by other lawyers.

Please be aware that sending an e-mail to Miller Estate and Elder Law, does not create an attorney-client relationship and that you therefore are not entitled to have us treat the information contained in such an e-mail as confidential. An attorney-client relationship is not created until we consider potential conflicts of interest, agree to represent you, and confirm our representation in a written engagement letter to you. If you are interested in establishing an attorney-client relationship, we invite you to call or visit with us.