Our Asset Protection Attorneys Will Protect What Matters Most To You in Ventura

 

Bartlett & Herrington, P.C. is devoted to providing exceptional Asset Protection services to families and individuals in Ventura, California.


SCHEDULE A STRATEGY SESSION
 

Our Asset Protection Attorneys Will Protect What Matters Most To You in Ventura


Bartlett & Herrington, P.C. is devoted to providing exceptional Asset Protection services to families and individuals in Ventura, California.


SCHEDULE A COMPLIMENTARY STRATEGY SESSION

Contact Us Today

Call (805) 576-7693 to speak with our experienced Trusts & Estates attorneys.

VENTURA ASSET PROTECTION ATTORNEYS

Many families and business owners in Ventura are concerned about protecting their assets from creditors. Bartlett & Herrington has experience designing asset protection strategies for individuals, families, physicians and business owners. A revocable trust provides no asset protection for the trust maker during his or her life. Upon the death of the trust maker, however, or upon the death of the first spouse to die if it is a joint trust, the trust becomes irrevocable as to the deceased trust maker’s property and can provide asset protection for the beneficiaries, with two important caveats.

First, the assets must remain in the trust to provide ongoing asset protection. In other words, once the trustee distributes the assets to a beneficiary, those assets are no longer protected and can be attached by that beneficiary’s creditors. If the beneficiary is married, the distributed assets may also be subject to the spouse’s creditor(s), or they may be available to the former spouse upon divorce.

Trusts for the lifetime of the beneficiaries provide prolonged asset protection for the trust assets. Lifetime trusts also permit your financial advisor in Ventura to continue to invest the trust assets as you instruct, which can help ensure that trust returns are sufficient to meet your planning objectives. The second caveat follows logically from the first: the more rights the beneficiary has with respect to compelling trust distributions, the less asset protection the trust provides. Generally, a creditor ‘steps into the shoes’ of the debtor and can exercise any rights of the debtor. Thus, if a beneficiary has the right to compel a distribution from a trust, so too can a creditor compel a distribution from that trust.

If you live in Ventura, contact the experienced attorneys at Bartlett & Herrington to discuss asset protection options available to you and your family.


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“I have worked with numerous attorneys over a 10 year period in my personal and business dealings, and after hiring Neal I am confident that he will be the only attorney I will work with on any future matters. On a scale of 1 to 10, he is a 10.”

-T.C.

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Bartlett & Herrington, P.C.


4299 Carpinteria Ave., Suite 101
Carpinteria, CA 93013

Phone: (805) 576-7693
Fax: (805) 576-7697

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Bartlett & Herrington, P.C.

4299 Carpinteria Ave., Suite 101
Carpinteria, CA 93013

Phone: (805) 576-7693
Fax: (805) 576-7697

If you start talking about all the technical jargon surrounding asset protection for the wealthy, you can quickly go to depths that don’t apply to most people’s lives. That’s not a bad thing. People have what they have, and asset protection is going to be an individualized plan, no doubt about it. That doesn’t mean there aren’t some basic rules that most everyone should know.

If you’re not a regular investor or doing business dealings consistently, then you might wonder how asset protection applies to you at all. Families in Ventura, California need to realize that everyone has to start somewhere. What do you already own that needs protection? Maybe you don’t yet own a home, but everything you do own that has value is an asset. Furthermore, the whole idea behind asset protection is to get started ahead of time so that you know what to do.

You might have gathered by now that you don’t need to take on everything at once. Take it slowly, and as you get a firm grasp of certain parts of asset management and protection, you can also decide if you need to reach out to a financial planner or an accountant. It could be that you need tax help it that your finances have simply grown to the point that you need to outsource some of the details.

One thing about personal asset protection and asset protection for business owners is that creditors don’t need to be in the dark. That can be easier said than done if you get yourself into certain situations of course. Are you currently involved in any cases with creditors that are after certain assets? Do you need to be thinking about getting a lawyer? When finances take a hit and lenders start trying to come after you, there is a whole different side to asset protection.

You don’t want to be in that position, but no matter where you are at, it is time to move forward. Isn’t Ventura CA a beautiful place to live? What brought you there? As you think about your future and your family’s future, what types of asset protection measures currently need to be in place? As you can tell, there are all different kinds of things that can be done based on there being various situations.

Are you thinking that protecting your assets in other ways can help you stay away from insurance? Or maybe you are thinking that the insurance policies you take out can help keep you from having to work on certain asset protection strategies. You are going to have to strike some balance between the two.

Hopefully, you’re not looking at bankruptcy or anything similar. The reasons you are studying asset protection might have alerted you to all kinds of different things as well. Stay ahead of everything so that you don’t start causing any problems. If you do things right and all goes well, your financial situation will grow.