Asset protection planning is a legal method to protect assets from creditors, useful in situations like lawsuits, judgments, divorce, or business conflicts.<br />Common strategies include setting up an asset protection trust or a limited liability company (LLC).<br />Another approach is to diminish the value of property by placing debts or loans against it.<br />The funds obtained from these debts or loans can be secured in a safe structure.<br />This protection makes it more challenging for others to seize assets in a lawsuit and aids in negotiating better settlement terms.
