Personal Asset Protection

Personal asset protection in law involves strategies to shield an individual’s assets from lawsuits or creditors, using tools like trusts, LLCs, and insurance.

Individuals with significant assets face increasing exposure to litigation, creditor claims, and financial risks. While many understand the basic concept of protecting assets, implementing effective strategies requires sophisticated planning beyond traditional wills and insurance policies.

Trust-Based Protection Strategies

Revocable Trusts

Avoid probate costs (up to 10% of estate value)
Dictate timing and conditions of inheritance
Flexibility to modify as circumstances change
Maintain control of assets during your lifetime
Protect beneficiaries from future creditors

Irrevocable Trusts

Continued benefits for future generations
Enhanced creditor protection during your lifetime
Immediate asset protection upon formation
Secure distributions for up to 360 years
Tax advantages and probate avoidance

Beyond Basic Estate Planning

Control inheritance timing based on beneficiary responsibility
Create separate trust funds for individual beneficiaries
Maintain family wealth across generations
Protect assets from children’s spouses or creditors
Shield inheritance from bankruptcy and divorce claims

Our Approach

At Kelley Kronenberg, we develop comprehensive protection plans combining both revocable and irrevocable trusts to maximize control and protection. Our attorneys help you navigate the trade-offs between asset control and protection, ensuring your wealth remains secure while meeting your family’s needs.