Denver Asset Protection Attorneys

Ask Us About How to Protect Your Assets

Your most valuable assets might not be as secure as you think. Depending on the type of asset and your overall financial situation, creditors, tax agencies, plaintiffs who file lawsuits against you, ex-spouses, and others could all try to get value out of your assets and property. With a properly created estate plan, though, you may be able to protect your assets.

The Harris Law Firm offers legal counsel and services to people across Colorado who want to use asset protection methods. Whether you own a small business or pieces of real estate, or just have concerns about your property being misused or collected by unwelcome third parties, talk to our asset protection attorneys today.

Call (303) 622-5502 or complete an online form to request more information about our estate planning team in Denver today.

Asset Protection Tools

Asset protection is the overall concept of using different estate planning tools and legal methods to put barriers between your assets and interested third parties that might have a claim to those assets in certain situations. Most of the time, asset protection is used by people who are filing for bankruptcy and want to stop creditors and banks from taking as much of their property as possible. Many other situations in which asset protection is helpful can arise, though, which is why there are many different asset protection tools and methods to consider.

To protect your assets, you might be able to utilize:

• Trusts: Colorado does not allow Domestic Asset Protection Trusts, but by placing assets in various forms of trusts, we can help protect your assets.
• LLCs: If you are a business owner, you can consider forming a limited liability company (LLC), which has built-in asset protection provisions that make it more difficult for creditors to claim your privately owned assets if your company runs into financial trouble.
• Retirement accounts: Certain retirement accounts like employee-sponsored 401(k) accounts and traditional IRA accounts allow you to place finances into an account shielded by unique federal protections and state laws in some cases.
• Transferred ownership: Any asset that you own personally could potentially be vulnerable to collections, legal liabilities, etc. Consider transferring ownership of assets that you do not need or think you can spare. For example, you can gift assets like second vehicles to relatives.

Who Should Consider Asset Protection?

You do not need to have considerable wealth or own a business to benefit from various asset protection methods. Anyone who has assets that are worth protecting should at least consider using asset protection tools in their estate plan.

Talk to Our Denver Asset Protection Lawyers

To learn more about asset protection and see if it is right for you, reach out to The Harris Law Firm in Denver. We offer asset protection services that can be personalized to your needs and estate planning goals.

Get more information about your options through asset protection. Call (303) 622-5502 now.