Colorado Asset Protection Attorneys

Ask Us About How to Protect Your Colorado 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, plaintiffs who file lawsuits against you, ex-spouses, and others can all try to get value out of your assets and property. With a properly created estate plan, 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 under Colorado law. Whether you own a small business or pieces of real estate, or simply have concerns about your property being misused or collected by unwelcome third parties, talk to our attorneys today. Estate planning is not one-size-fits-all , and the options available to you depend on your circumstances, so we would be happy to discuss what could work for you.

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 who might have a claim to those assets in certain situations. It works best when you plan before a claim or financial difficulty arises, and it can apply to many situations, including business ownership and real estate holdings. That is why there are many different asset protection tools and methods to consider.

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

• Trusts: Colorado does not allow Domestic Asset Protection Trusts, so a trust you create for your own benefit generally cannot shield your assets from your own creditors. Other forms of trusts may still help protect assets, depending on how they are structured and funded. For example, trusts created for the benefit of others, such as children or other family members, can include provisions that limit the ability of a beneficiary’s creditors to reach trust assets before they are distributed. Special needs trusts can preserve assets for a beneficiary with a disability without jeopardizing eligibility for government benefits. We can help you determine whether a trust fits your situation and goals.
• LLCs and other business structures: If you are a business owner, we can help you form and structure a limited liability company (LLC) or another appropriate business arrangement, formed with the insight of our business law attorneys. When properly formed and maintained, an LLC may make it more difficult for creditors to claim your personally owned assets if your company runs into financial trouble. We can also help you structure your business and related holdings, so your personal and business assets stay appropriately separated.

Asset Protection Timing Is Important

Asset protection usually works best when you plan well before a claim or financial difficulty appears. Courts can reverse transfers made to avoid a creditor with an existing or reasonably foreseeable claim, and a transfer that looks like an attempt to hide assets can cause more problems than it solves. Starting early gives you more time to choose tools that fit your goals and to document the legitimate reasons behind each decision.

Who Should Consider Estate Planning?

You do not need to have considerable wealth or own a business to benefit from estate planning. Anyone who has assets worth protecting should consider estate plan tools.

Talk to Our Colorado Lawyers

To learn more about estate planning and see if it is right for you, reach out to The Harris Law Firm in Denver. We offer legal services that can be personalized to your needs and estate planning goals, and we will explain what Colorado law does and does not allow so you can make decisions with accurate expectations.

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