How Can I Protect My Liquid Assets?

by Bruce Givner on October 28, 2011

There are many ways to protect liquid assets. So, all we can do is mention a few, and recommend that we meet face-to-face to review all of your facts, and all of your goals and objectives, so that we can design the right structures for your situation. This is how we design a bulletproof asset protection plan.

Transferring liquid assets to a tax qualified retirement plan, such as a defined benefit plan or a profit sharing plan sponsored by a corporation, which covers rank and file employees, is a terrific asset protection structure. Just ask O.J. Simpson. Also, under California law, the exemption for retirement plans isn’t limited to just tax qualified plans. California law also protects what are called “private retirement plans” which, when properly structured, can protect even more liquid assets than a qualified plan.

You can transfer liquid assets to a domestic asset protection trust, such as one in Nevada or Alaska. You can transfer liquid assets to a non-U.S. asset protection trust, which is the most protected, because the assets are beyond the reach of a U.S. court. You can transfer liquid assets to a limited liability company in a state that has charging order protection, or to a California LLC in which your children’s trust has an interest and which has a carefully drafted operating agreement. These are just a few of the possibilities. To consider the full spectrum of possibilities in protecting your liquid assets and to develop a bulletproof asset protection plan we would suggest you contact an expert asset protection attorney. (310) 207-8008

{ 1 comment… read it below or add one }

Omid Mousaei October 28, 2011 at 10:12 am

Thank you for this great post. It was really helpful.


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