Many asset protection pans fail to consider both inside and outside risks and liability, leaving assets exposed to creditor attacks from upstream and downstream, or forward and reverse piercing of the corporate veil. These flawed asset protection attempts are usually implemented with a lack of awareness of available legal protection techniques.
Some ill-informed asset protection plans even violate fraudulent transfer rules, voidable transaction laws, or create unintended (and very expensive) taxation consequences. Consider and discuss this list with your attorney:
Before you transfer property, encumber property, or even form a trust or company to hold property, download and review Asset Protection Considerations and discuss your situation with an asset protection attorney.