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ARTICLE · 16 OCTOBER 2023

Asset Protection Planning: Removing Risk From Your Rewards

Reinhart, Boerner, Van Deuren SC
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Asset protection planning can be an element of your estate plan designed to minimize economic exposure.

United StatesWealth Management
Matthew J. Ackmann
Matthew J. Ackmann
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Asset protection planning can be an element of your estate plan designed to minimize economic exposure. Individuals generally interested in this planning are professionals (such as doctors, accountants and lawyers) or business owners, as their services are open to risk from unsatisfied or harmed customers and creditors. Asset protection planning involves restricting your own access to property so it is important to fully understand its implications. Asset protection is not "hiding" assets, defrauding creditors, money laundering or tax evasion.

Asset protection planning entails balancing several factors:

  1. Asset protection techniques generally involve shifting ownership of assets to others, which results in loss of control over and access to the assets.

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